Comment on WeWork plans to file for bankruptcy as early as next week, source says

• Nighed@sffa.community ⁨10⁩ ⁨months⁩ ago

  And that’s the restructuring one? Does that let them escape or decrease their leases?

  (Not familiar with American bankruptcy laws(…or any bankruptcy laws))

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  • wjrii@kbin.social ⁨10⁩ ⁨months⁩ ago

    Yup, 11 is the restructuring one. Very little will happen automatically, but they will try to renegotiate their leases. In a world where big companies are adjusting to WFH being a norm, though no longer the the norm, this has the feeling of pissing on a house fire. When their Chapter 11 restructuring fails, that's when they'll file for Chapter 7 (liquidation)

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  • _haha_oh_wow_@sh.itjust.works ⁨10⁩ ⁨months⁩ ago

    This is the restructuring one.

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