FLOW - WeWork's Former CEO Adam Neumann Proposes $600M Bid To Regain Control Of Bankrupt Company | Benzinga
Adam Neumann is making a renewed effort to regain control of WeWork Inc (OTC:WEWOQ) (OTC:WEWKQ) as the company struggles to secure funding and avoid a sale amid bankruptcy proceedings.
Since filing for bankruptcy in November, WeWork has been engaged in court-led restructuring, primarily focusing on renegotiating leases, but its financial challenges persist.
Running short of cash, WeWork needs up to $400 million in fresh funding to emerge successfully from bankruptcy.
Failure to secure new investment could force the company to consider a sale, the Financial Times noted, citing insiders.
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