WeWork Inc. is expected to file for bankruptcy as soon as next week, a move that could allow the embattled office-space provider to cherry-pick leases it wants to keep or reject, according to four restructuring experts.
A bankruptcy filing by WeWork WE, -8.25% might provide yet another shot at overhauling the former venture-capital darling, which once was valued at $47 billion and ranked as Manhattan’s largest private office tenant.
The company has been under fire since before the pandemic hit, which caused demand for office space to further freeze up. It lost an estimated $15 billion since the end of 2017, according to a New York Times tally as of September. A month earlier, WeWork reported having substantial doubt about its ability to stay in business.