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The Latest Breaking News from WeWork

WeWork co-founder Adam Neumann bids to buy it back for more than $500m

Former CEO of shared office space rental company has reportedly been in talks with investors

The Guardian - UK

Bank of England policymaker says markets pricing in too many rate cuts; Co-op Bank to cut 400 jobs –as it happened

Catherine Mann says market pricing is helping the central bank do its work in bringing borrowing rates down

The Guardian - UK

Ousted WeWork Co-founder Bids To Buy Company: Reports

Ousted WeWork co-founder Adam Neumann recently bid more than $500 million to buy back the struggling office-sharing group, according to media reports Monday.

International Business Times

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Soho House reports £92m loss despite 20% rise in membership

Chain of private members’ clubs increases debt as it continues its international expansion

The Guardian - UK

WeWork Rival IWG weighs US listing as it ramps up new sites

IWG is preparing to make a final call on pursuing a stock market listing in the US as the company seeks to persuade investors it should be valued more like tech darlings Uber Technologies Inc. or Airbnb Inc.

Evening Standard

‘It doesn’t feel special’: is Soho House a victim of its own success?

Chain of private members’ clubs under pressure as it reports full-year results this week, with some claiming rapid expansion has robbed it of its exclusivity

The Guardian - UK

WeWork poised to shut more London sites as cost-cutting continues

The number of workspaces advertised on the firm’s site has dropped from 50 to 30

Evening Standard

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Adam Neumann Makes Bold Bid to Salvage WeWork's Future

The former CEO of WeWork is leading a bid to acquire the company out of bankruptcy, with backing from investors like Third Point.

International Business Times

Adam Neumann seeks to buy WeWork back five years after his ousting as CEO

Co-founder pushed out in 2019 has been trying to meet co-working company for months to negotiate deal, lawyers say

The Guardian - US

WeWork to shut another London office after US bankruptcy

WeWork is poised to shut another London site and is in talks over lease agreements in other locations after the beleaguered workspace business seeks to scale down its office estate in a bid to cut costs following its US bankruptcy filing.

Evening Standard

WeWork's UK subsidiary owes £730 million after 'weaker than contemplated' demand

WeWork’s top UK subsidiary posted a loss of £110 million in 2022 and said it owed nearly three quarters of a billion pounds to its US parent in signs the London office market’s sluggish recovery from the coronavirus pandemic has crippled its finances.

Evening Standard

Why corporate bankruptcies were up in 2023 despite the improving economy

Hundreds of debt-saddled companies filed for bankruptcy this year, as the era of easy money caught up to corporations. High interest rates mean banks aren't extending lifelines.

WEKU

The party never stops at WeWork. Even after bankruptcy

At WeWork, company execs are refusing to let its US bankruptcy filing be a downer on the Christmas spirit.

Evening Standard

WeWork’s co-working model was supposed to fix traditional commercial real estate–but both the new idea and the centuries-old industry are failing

While billed as an inventive means to insert energy into the workplace, WeWork is built on the foundation of the age-old model that it claims to transform.

Fortune

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Evening Standard

WeWork in London: Office bookings jump seen as members look beyond the firm filing for bankruptcy in the US

When WeWork filed for bankruptcy in the US and Canada in November there were numerous property commentators ready to discuss what went so wrong for a offices giant once valued at $47 billion (£37 billion). But one month on, and while there is still plenty to do, the group's chief…

Evening Standard

Co-working offices giant WeWork points to strong booking numbers in London

WeWork may have filed for bankruptcy in the US and Canada last month but its UK business just had a strong bookings performance in London as more people head back to offices, a company executive has said.

Fortune

The Fed watcher who called the 2007 housing bubble expects interest rates to stay high for ‘much, much, much longer.’ It’s payback for the unsustainable ‘free money era’

Jim Grant of Grant's Interest Rate Observer believes it will take years to undo the kinks from a decade of ultra-low interest rates.

Fortune

Blackstone plans to double-down on its Europe real estate investments—but in London, it already has an upper-hand as WeWork locations have fallen

The private equity group, which recently hit $1 trillion in assets under management, has a number of flexible office spaces in London through The Office Group.

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The Conversation

WeWork approached physical space as if it were virtual, which led to the company's downfall

On Nov. 6, the co-working firm WeWork filed for bankruptcy. WeWork, founded by Adam Neumann and Miguel McKelvey in 2010, had a simple business model: it signed long-term leases on urban buildings, fitting them out with modern work facilities. Then, it rented out desks, offices and meeting rooms to companies…

Barchart

3 At-Risk Retail Stocks That Could Follow in WeWork's Footsteps

WeWork just filed for bankruptcy as it continued to post massive losses. Will these three loss-making retail stocks also go under?

The Independent UK

Japan's SoftBank hit with $6.2B quarterly loss as WeWork, other tech investments go sour

Japanese technology company SoftBank Group has reported it racked up a huge loss in the July-September quarter, as some of its investments soured

The Guardian - US

SoftBank paid WeWork lenders almost $1.5bn before bankruptcy filing

Court papers reveal Japanese conglomerate transferred money less than a week before office rental group filed for bankruptcy

Fortune

A former Blackstone exec wants to salvage WeWork from bankruptcy

The company has renegotiated more than 500 of its leases, and is working on doing so with another 400.

Fortune

Adam Neumann fires subtle shots at his WeWork successors

Adam Neumann, the billionaire founder of WeWork, said the company "has failed to take advantage of a product that is more relevant today than ever before" since he left.

Fortune

WeWork’s $18 billion bankruptcy is the last thing the reeling commercial real-estate sector needed

Offices now face “a potential new wave of unexpected vacancies,” Moody’s wrote. WeWork’s first move was to dump 70 leases—35 of them in New York.

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