Office space provider WeWork files for US bankruptcy

Major office space provider WeWork has filed for bankruptcy in the US after a 98 per cent drop in shares through 2023. The company provides office and co-working spaces in locations all over the world. At its peak, WeWork was valued at more than $70 billion and continues to function at 15 locations in Australia. The office space provider released a statement saying it had entered a restructuring agreement to lower debt. Locations and franchisees outside of the US and Canada are not impacted by proceedings. Via news.com.au — Australia’s leading news site https://www.news.com.au