this post was submitted on 01 Nov 2023
369 points (97.4% liked)

Technology

59207 readers
3158 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
369
WeWork plans to file for bankruptcy as early as next week, source says (www.reuters.com)
submitted 1 year ago by [email protected] to c/[email protected]
63 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 8 points 1 year ago (2 children)

And that's the restructuring one? Does that let them escape or decrease their leases?

(Not familiar with American bankruptcy laws(...or any bankruptcy laws))

[–] [email protected] 22 points 1 year ago

Yup, 11 is the restructuring one. Very little will happen automatically, but they will try to renegotiate their leases. In a world where big companies are adjusting to WFH being a norm, though no longer the the norm, this has the feeling of pissing on a house fire. When their Chapter 11 restructuring fails, that's when they'll file for Chapter 7 (liquidation)