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BIZARRE: 4 - What They Never Told You

WeWork files for bankruptcy after failing to recover from Covid-19 losses

Company that provides shared working spaces has been struggling with huge debts and losses incurred during the pandemic

The Independent UK

WeWork files for bankruptcy in a stunning downfall from its $47 billion heyday

With its flexible office spaces, WeWork once was seen as a Silicon Valley darling led by an eccentric and charismatic founder. Financial troubled intervened, followed by the pandemic.

WEKU

The dizzying rise, and even more vertiginous fall, of WeWork

Company sought to present itself at the heart of myriad utopian ideals, in pursuit of ‘mission’ to ‘elevate the world’s consciousness’

The Guardian - US

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WeWork, once a $47bn firm, files for bankruptcy after accruing $2.9bn debt

Company never recovered from 2019 ouster of founder Adam Neumann and remote work revolution

The Guardian - US

Stock Market Today: Stocks Enjoy Longest Winning Streak in Two Years

Markets continued to rally on hopes the Fed is done with interest rate hikes.

Kiplinger

WeWork co-founder says anticipated bankruptcy filing ‘disappointing’

Adam Neumann says seeing company struggle has been ‘challenging’ as trading of shares was suspended

The Guardian - US

WeWork set to file for bankruptcy - could this be the end at last?

Years after a frankly colossal failure to go public and now under new leadership, WeWork is still struggling with its finances.

TechRadar

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Sam Bankman-Fried makes himself out to be an absentee CEO in new testimony

The FTX cofounder tried to distance himself from the hole in FTX’s balance sheet.

Fortune

UK hosts first-ever global artificial intelligence safety summit

British Prime Minister Rishi Sunak hosts world leaders and tech executives at Bletchley Park to discuss the future of the AI industry. Also in this edition: office-sharing firm WeWork is reportedly close to filing for bankruptcy, and Greek olive oil producers face rising thefts as prices skyrocket.

France 24

WeWork shares plunge on reported plans to file for bankruptcy

The New York-based group has been struggling with a huge debt pile and mammoth losses and has already seen its share price decimated this year

Evening Standard

Afternoon Update: more interest rate rises likely; Victorian prison officers put spit hood on child; and WeWork to file for bankruptcy

The Reserve Bank looks increasingly likely to lift the cash rate as the IMF found inflation remained ‘sticky’

The Guardian - AU

WeWork gets boost in London as post-Summer office bookings rise

Flexible office provider WeWork has reported a big jump in demand for space in London in September as more staff returned to desks after the school holidays.

Evening Standard

WeWork plans to renegotiate nearly all of its leases, after warning about its future

The company, which operates several locations in Chicago, said it would also exit “unfit and underperforming locations.”

Chicago Sun-Times

Fears grow for property sector as WeWork scrambles to stay afloat

As company warns of ‘substantial doubt’ over its future, experts say consequences for commercial landlords could be dire

The Guardian - US

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The Independent UK

WeWork's future: What to know after the company sounds the alarm on its ability to stay in business

WeWork said last week there was “substantial doubt” about its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company

The Independent UK

WeWork warned of 'substantial doubt’ about its ability to stay in business. Here's what that means

WeWork said last week there was “substantial doubt” about its ability to stay in business, prompting speculation around the future of the troubled workspace-sharing company

Fortune

What happens to your coworking space if WeWork goes bankrupt?

WeWork members are not traditional tenants with leases or subleases. That means they have far fewer rights and protections in the event that WeWork goes kaput.

Fortune

Raising a first-time fund? This is the worst time to do it in 10 years

Capital from LPs is drying up—especially for newbies.

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Fortune

WeWork's 'going concern' language shows the office culture of the 2010s is dead—even if the office provider survives into the hybrid era

It’s not a “we” kind of workplace if we all want to stay home two days a week.

Fortune

WeWork is on a downward spiral that could lead to bankruptcy

After years of losses, and leadership struggles, the company warns that its days could be numbered.

The Times of India

WeWork’s ‘substantial doubt’ about its future marks a stunning fall

NEW YORK: For the past four years, WeWork Inc has been trying to deliver a turnaround story — one in which the rowdy co-working startup transforms into a stable, profitable public company. It sloughed off Adam Neumann, its rambunctious co-founder and former chief executive officer, and replaced him with an…

Kiplinger

Stock Market Today: Stocks Drop Ahead of CPI, WeWork Tanks on Bankruptcy Concerns

The major indexes closed lower for a second straight day amid a batch of disappointing earnings reports.

Fortune

From $47 billion to $270 million—WeWork, the Adam Neumann brainchild, keeps crashing after a 'going concern' warning

"Flexible workspaces have a future in the office ecosystem, but WeWork, in its current state, may not," BTIG analysts wrote Wednesday.

Chicago Sun-Times

WeWork warns there’s ‘substantial doubt’ about its ability to stay in business

The company leases buildings and divides them into office spaces to sublet to its members, which include small businesses, startups and freelancers who want to avoid paying for permanent office space.

TechRadar

WeWork reveals "substantial doubt" about its future

Coworking office space provider WeWork is burning through more cash than it can afford - and the clock is ticking.

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