WeWork Faces Bankruptcy as Value Plummets from $47B Peak
- WeWork nearing bankruptcy as market cap falls to $60 million from peak of $47 billion
- Missed interest payments and struggling with losses and cash needs
- Seeking to renegotiate leases and get stakeholder support to improve liquidity
- Physical occupancy down to 72% as demand softened amid economic volatility
- Has over $25 billion in lease obligations coming due over next 7 years
