Once valued at $47 billion dollar by investors in 2019, America's major firm WeWork has officially filed for bankruptcy. WeWork, headquartered in New York, filed for bankruptcy in a New Jersey federal court. WeWork bankruptcy has indeed garnered global attention as the US company was once labeled as the future of the office spacing industry. For the unversed, WeWork was founded in 2010 by Adam Neumann and Miguel McKelvey. It had envisioned creating a ‘physical social network’ for a new class of workers who were freelancing or working from home.
WeWork's business model worked on signing long-term leases for office buildings, sprucing up those spaces, and then renting them to freelancers and companies. Now, the question arises what is WeWork's bankruptcy reason or what went wrong with WeWork? Below are the five reasons why WeWork went bankrupt-
