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The Latest Breaking News from WeWork

Japan's SoftBank returns to profit after gains at Vision Fund and other investments

Japanese technology conglomerate SoftBank Group swung back to profitability in the July-September quarter, boosted by its Vision Fund investments

The Independent UK

The ‘flagship office’ is on the rise—and it uses the principles of the experience economy to coax employees back to their desks

These carefully redesigned built environments, compelling stories, and authentic experiences would in fact be well worth an admission fee.

Fortune

Another major retail chain may soon file Chapter 11 bankruptcy

A major discount home goods retailer is planning to file Chapter 11 bankruptcy, people with knowledge of the situation say.

The Street

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Why Silicon Valley falls prey to ‘charisma distortion,’ according to investor and Google X founding member Tom Chi

Silicon Valley loves a charismatic visionary. Sometimes a little too much, like when that vision outstrips reality. I recently talked about this with Tom Chi, once a founding member of Google X and now founding partner at At One Ventures.

Fortune

Elon Musk is opening another school. Expect a very un-woke curriculum

The billionaire has been obsessed with education since pulling his kids out of ‘regular school’ 10 years ago. And he’s far from the only celebrity to dabble

The Guardian - UK

Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdings

Japanese technology giant SoftBank Group has reported a smaller loss for the April-June quarter compared to a year earlier

The Independent UK

WeWork's summer party will not celebrate its emergence from bankruptcy

Last night a WeWork saved my life?

Evening Standard

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WeWork has emerged from bankruptcy. What's next for the co-working office space provider?

WeWork has officially emerged from bankruptcy — and appointed new leadership in the process

The Independent UK

WeWork eliminates $4bn in debt after judge approves bankruptcy plan

Days after co-founder dropped buying bid, the company claims it is set for ‘sustainable, profitable growth’ and to re-emerge next month

The Guardian - US

Deflated 'unicorn' CEO Adam Neumann retreats after judge kills his attempt to buy back WeWork, which he drove into the ground five years ago

A bankruptcy judge rejected Neumann’s bid to purchase the beleaguered co-working company.

Fortune

Adam Neumann drops bid to acquire bankrupt WeWork

Former CEO of shared office space provider was ousted from company in 2019 following botched attempt to take it public

The Guardian - US

WeWork rival IWG keeps switch to US accounting standards under review as it mulls New York listing

One of WeWork’s biggest rivals has said it continues to review a potential switch to US accounting standards in the latest sign that a listing in New York is on the cards.

Evening Standard

Adam Neumann Seeks To Buy Back Wework Amid Bankruptcy Exit

Adam Neumann seeks to repurchase WeWork as it aims to recover from bankruptcy, facing financial challenges exacerbated by the COVID-19 pandemic.

Top News

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

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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

International Business Times

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.

The Guardian - UK

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

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

Evening Standard

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.

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The Guardian - UK

‘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

Evening Standard

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

International Business Times

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.

The Guardian - US

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

Evening Standard

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.

WEKU

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.

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