【Submission Season 1 Episode 1 (2016)】

Source：Evergreen Information Network Editor：Shopping Time：2025-06-26 11:16:21

WeWork's woes seem to have Submission Season 1 Episode 1 (2016)finally caught up with it. The coworking space company, once valued at $47 billion, announced on Monday that it's filing for bankruptcy in both the US and Canada, but stressed that it still expects to continue business as usual.

"WeWork made the proactive decision to commence a strategic reorganization process to best position the company for future success," CEO David Tolley said in an email to customers. Tolley was appointed to the position in October after serving as interim CEO since May.

"For WeWork, we expect this process to best position our company for stronger operational and financial success, and best enable us to continue to deliver world-class services to our members."

You May Also Like

SEE ALSO: WeWork has 'substantial doubt' it will be able to stay in business

According to WeWork, there will be little difference in the service offered to its users. It will continue to keep coworking spaces in the US and Canada open, staffed, and maintained. Current membership agreements and fees will remain the same as well.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

However, WeWork did acknowledge that it is renegotiating its leases, and will be closing some of its less profitable locations. The company stated that it is petitioning the courts for permission to break some of its leases, and hopes it will be approved within the next few weeks.

"As we enter into Chapter 11, we expect to continue exiting unfit and underperforming locations that we believe do not support the best possible member experience that WeWork can provide," said WeWork.

The company will provide moving services and support for anyone whose location closes, helping them to find an alternate WeWork space. This will likely be more useful to businesses based out of specific WeWorks rather than anyone who only occasionally books desks as needed.

【Submission Season 1 Episode 1 (2016)】

Related Articles

Related Recommendations

Categories

Latest Articles

Popular Articles

Hot Recommendations

Featured Column

Quick Links

Quick Links