{"id":8035,"date":"2023-11-01T10:38:28","date_gmt":"2023-11-01T10:38:28","guid":{"rendered":"https:\/\/zoominfinancial.com\/business\/weworks-shares-plunge-37-on-bankruptcy-reports\/"},"modified":"2023-11-01T10:38:29","modified_gmt":"2023-11-01T10:38:29","slug":"weworks-shares-plunge-37-on-bankruptcy-reports","status":"publish","type":"post","link":"https:\/\/zoominfinancial.com\/?p=8035","title":{"rendered":"WeWork\u2019s shares plunge 37% on bankruptcy reports"},"content":{"rendered":"
\n

\n WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.\n <\/p>\n

\n The flexible workspace provider is considering filing for Chapter 11 bankruptcy protection in New Jersey, the Wall Street Journal and Reuters reported Tuesday, citing people familiar with the matter.\n <\/p>\n

\n A WeWork spokesperson told CNN the company would not comment on \u201cspeculation.\u201d\n <\/p>\n

\n Earlier on Tuesday, WeWork (WE) said it had agreed with creditors to extend a 30-day grace period to make interest payments on some of its debt that was due to expire this week. The new \u201cforbearance agreement\u201d will terminate in seven days, the company added.\n <\/p>\n

\n WeWork was valued at $47 billion at its peak, but it has struggled to recover after a failed attempt to go public in 2019. At the time, IPO paperwork revealed larger-than-expected losses and potential conflicts of interest related to the company\u2019s founder and then-CEO Adam Neumann.\n <\/p>\n

\n The company eventually went public two years later at a valuation of about $9 billion, but it has continued to burn through cash and struggled to retain members, who pay to rent desks at WeWork\u2019s office spaces.\n <\/p>\n

\n In August, the company said \u201csubstantial doubt exists\u201d about its ability to stay in business.\n <\/p>\n

\n \u2014 This is a developing story and will be updated.<\/em>\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as…<\/p>\n","protected":false},"author":1,"featured_media":8036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-8035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nWeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial<\/title>\n<meta name=\"description\" content=\"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zoominfinancial.com\/?p=8035\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial\" \/>\n<meta property=\"og:description\" content=\"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zoominfinancial.com\/?p=8035\" \/>\n<meta property=\"og:site_name\" content=\"ZoomInFinancial\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-01T10:38:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-01T10:38:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/11\/231101090313-wework-081023.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035#article\",\"isPartOf\":{\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/zoominfinancial.com\/#\/schema\/person\/27fc0bac212db836c2d4246d4037414b\"},\"headline\":\"WeWork\u2019s shares plunge 37% on bankruptcy reports\",\"datePublished\":\"2023-11-01T10:38:28+00:00\",\"dateModified\":\"2023-11-01T10:38:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035\"},\"wordCount\":227,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/zoominfinancial.com\/#organization\"},\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/zoominfinancial.com\/?p=8035#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035\",\"url\":\"https:\/\/zoominfinancial.com\/?p=8035\",\"name\":\"WeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial\",\"isPartOf\":{\"@id\":\"https:\/\/zoominfinancial.com\/#website\"},\"datePublished\":\"2023-11-01T10:38:28+00:00\",\"dateModified\":\"2023-11-01T10:38:29+00:00\",\"description\":\"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.\",\"breadcrumb\":{\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/zoominfinancial.com\/?p=8035\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/zoominfinancial.com\/?p=8035#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/zoominfinancial.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WeWork\u2019s shares plunge 37% on bankruptcy reports\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/zoominfinancial.com\/#website\",\"url\":\"https:\/\/zoominfinancial.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/zoominfinancial.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/zoominfinancial.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/zoominfinancial.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/zoominfinancial.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/zoominfinancial.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/zoominfinancial.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/zoominfinancial.com\/#\/schema\/person\/27fc0bac212db836c2d4246d4037414b\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/zoominfinancial.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/zoominfinancial.com\"],\"url\":\"https:\/\/zoominfinancial.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"WeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial","description":"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/zoominfinancial.com\/?p=8035","og_locale":"en_US","og_type":"article","og_title":"WeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial","og_description":"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.","og_url":"https:\/\/zoominfinancial.com\/?p=8035","og_site_name":"ZoomInFinancial","article_published_time":"2023-11-01T10:38:28+00:00","article_modified_time":"2023-11-01T10:38:29+00:00","og_image":[{"width":800,"height":450,"url":"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/11\/231101090313-wework-081023.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/zoominfinancial.com\/?p=8035#article","isPartOf":{"@id":"https:\/\/zoominfinancial.com\/?p=8035"},"author":{"name":"Press Room","@id":"https:\/\/zoominfinancial.com\/#\/schema\/person\/27fc0bac212db836c2d4246d4037414b"},"headline":"WeWork\u2019s shares plunge 37% on bankruptcy reports","datePublished":"2023-11-01T10:38:28+00:00","dateModified":"2023-11-01T10:38:29+00:00","mainEntityOfPage":{"@id":"https:\/\/zoominfinancial.com\/?p=8035"},"wordCount":227,"commentCount":0,"publisher":{"@id":"https:\/\/zoominfinancial.com\/#organization"},"articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/zoominfinancial.com\/?p=8035#respond"]}]},{"@type":"WebPage","@id":"https:\/\/zoominfinancial.com\/?p=8035","url":"https:\/\/zoominfinancial.com\/?p=8035","name":"WeWork\u2019s shares plunge 37% on bankruptcy reports | ZoomInFinancial","isPartOf":{"@id":"https:\/\/zoominfinancial.com\/#website"},"datePublished":"2023-11-01T10:38:28+00:00","dateModified":"2023-11-01T10:38:29+00:00","description":"WeWork\u2019s shares plunged 37% in pre-market trading Wednesday, following news reports that the company plans to file for bankruptcy as early as next week.","breadcrumb":{"@id":"https:\/\/zoominfinancial.com\/?p=8035#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/zoominfinancial.com\/?p=8035"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/zoominfinancial.com\/?p=8035#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/zoominfinancial.com\/"},{"@type":"ListItem","position":2,"name":"WeWork\u2019s shares plunge 37% on bankruptcy reports"}]},{"@type":"WebSite","@id":"https:\/\/zoominfinancial.com\/#website","url":"https:\/\/zoominfinancial.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/zoominfinancial.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/zoominfinancial.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/zoominfinancial.com\/#organization","name":"Fintech Advance","url":"https:\/\/zoominfinancial.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/zoominfinancial.com\/#\/schema\/logo\/image\/","url":"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/zoominfinancial.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/zoominfinancial.com\/#\/schema\/person\/27fc0bac212db836c2d4246d4037414b","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/zoominfinancial.com\/#\/schema\/person\/image\/","url":"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/zoominfinancial.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/zoominfinancial.com"],"url":"https:\/\/zoominfinancial.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/posts\/8035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8035"}],"version-history":[{"count":1,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/posts\/8035\/revisions"}],"predecessor-version":[{"id":8037,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/posts\/8035\/revisions\/8037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=\/wp\/v2\/media\/8036"}],"wp:attachment":[{"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zoominfinancial.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}