Reports: “WeWork“ platform on its way to declaring bankruptcy
Global press reports revealed that the “WeWork“ platform specialized in digital office works, on its way to declaring bankruptcy; Because of the great financial obstacles you face in the wake of the “Kofid 19“ pandemic.
The “WeWork“ platform was seen as the future of global office business, but in the wake of the “Kofid 19“ pandemic and for many companies resorting to work from home, financial crises began to surround the company; According to the BBC.
In 2019, the platform tried to sell a number of its shares to the public, but it was surprised by a great stumbling in the sales and the exit of its co -founder from the company.
WeWork is considering submitting an application to declare bankruptcy in New Jersey; According to many sources.
But a spokesman for “WeWork“ replied, “We do not comment on speculation“, without explicitly announcing the denial of the company‘s intention to declare bankruptcy.
Earlier, the company informed the US Financial Control Authority that it had agreed with creditors to postpone the payment of some of its debts, after its shares fell more than 40% after the trading hours in New York on Tuesday.
A week before the company confirmed the cancellation of the sale of its shares; Its founder Adam Newman stepped down as CEO.
The company said that his leadership scrutiny “has become a great distraction.“
But the company continued to work; Executive officials sold additional companies, reduced jobs, canceled or modified hundreds of rental contracts; In an attempt to stop the company‘s losses before its money runs out.
The company, which amounted to about 47 billion at its peak in early 2019, lost approximately 98% of its value in the stock market last year.
In August, “WeWork“ raised “great doubts“ about her ability to continue its operations, and then said that she faced challenges, including poor demand and the “difficult“ operating environment.
It also saw the exit of many senior executives this year; Including CEO and Chairman of the Board of Directors Sandep Maztrani.
