WeWork Seeks Bankruptcy Protection, A Stunning Fall For A Firm Once Valued At Close To $50 Billion

WeWork has filed for Chapter 11 bankruptcy protection, a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world.

The company offered few specifics about the course of its restructuring, but noted in its filing that it was requesting the ability to cancel leases in particular locations that WeWork described as largely non-operational.

All affected members have received advanced notice, the company said in a late Monday announcement.

(PTI)