It finally happened.
After years of speculation, handwringing, and infusions of capital, coworking pioneer WeWork has entered bankruptcy, the culmination of one of the biggest destructions of value in real estate history.
The question now is: what’s next?
For WeWork itself, the bankruptcy process is likely to be messy and complicated it will look to shed unprofitable locations and emerge as a viable business, or it will find a buyer willing to take on what is still one of the best-known brands in real estate.
It’s kind of like WeWork is losing weight, it was a fat slob, and now it’s going to get on Ozempic, said Leo Jacobs, a commercial litigation and bankruptcy attorney and founder of Jacobs PB in New York. It’s going to stick itse…
Read the full article at: https://www.bisnow.com/national/news/coworking/wework-bankruptcy-analysis-chapter-11-what-comes-next-121249