WeWork Cleared to Exit Bankruptcy After Neumann Ends Buyout Bid

Bloomberg2024-05-30

(Bloomberg) -- WeWork Inc. won bankruptcy court approval to shed billions in debt, drop unprofitable leases from its office workspace portfolio and leave behind the legacy of its co-founder Adam Neumann.

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US Bankruptcy Judge John K. Sherwood on Thursday said he’d approve the co-working company’s restructuring plan, clearing WeWork’s path the exiting bankruptcy.

Neumann had earlier expressed interest in buying the company out of bankruptcy. The restructuring approval formally closes the door on that possibility.

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