New York-based WeWork is considering filing a chapter 11 petition in New Jersey, the WSJ reported, citing people familiar with the matter.Įarlier on Tuesday, WeWork said it had entered into an agreement with creditors for temporary postponement of payments for some of its debt, with the grace period nearing an end. The company never seemed to recover from the scandal of its founder’s ouster and the remote work revolution of the pandemic.
Shares of the flexible workspace provider fell 32% in extended trading after the Wall Street Journal first reported the news.
