WeWork, the office-sharing company once valued at $47 billion, filed for bankruptcy protection on Thursday. The company, which rents desks and office space to small businesses, startups, and freelancers, lists $7 billion in liabilities, including outstanding debt of $4.6 billion. The filing came after SoftBank, WeWork’s largest investor, pulled its offer of a $3 billion rescue package. The company has been struggling since its failed attempt to go public in 2019, laying off thousands of workers and selling off divisions as it tried to keep operations afloat.
