WeWork, the one-time darling of the tech world that was valued at $47 billion, filed for bankruptcy on Monday.
- The company said Monday it plans to undergo a reorganization to improve its balance sheet, including the closure of “non-operational locations.”
- WeWork currently has eight locations in the Seattle region: six in Seattle and two in Bellevue. The company had 11 locations in the Seattle area as of June 2021.
- WeWork was among many co-working spaces that struggled during the pandemic, though some that survived saw tailwinds from hybrid work.
- Update: Here’s a statement from a WeWork spokesperson: “Seattle remains a key market for WeWork and we are fully committed to providing our members here with world-class, flexible workspace solutions for the long term. Our commitment to the city is unwavering as we continue to work collaboratively with our landlord partners, aiming to craft solutions that set all parties up for sustainable success.”
