WE Stock Recent News

CNBC's Deirdre Bosa reports on news from SoftBank.

Tech conglomerate and investor SoftBank has lost $14.4 billion so far on WeWork. The office-sharing firm filed for bankruptcy earlier this week.

The most recent high-profile company in distress is WeWork which filed for Chapter 11 protection with about $18.7 billion in liabilities and $15.1 billion in assets.

Co-working spaces are designed for tech startups, not downsizing corporate tenants.

The Japanese tech investor sank deeper into the red as it reported write-downs related to the bankruptcy of office-sharing company and technology shares stayed under pressure.

WeWork's bankruptcy announcement is particularly rosy about its future.  The company, founded by Adam Neumann, was once valued at $47 billion.

WeWork (WE) filed for Chapter 11 bankruptcy on Monday, consenting to a restructuring agreement for its investors to pay off $4 billion in debt. The shared workspace company was hit by a massive shift in how and where office workers perform their duties from the COVID-19 pandemic and debates over work-from-home policies.

Court papers reveal Japanese conglomerate transferred money less than a week before office rental group filed for bankruptcy

Before the pandemic, WeWork (WE) was valued at $47 billion, quite the high for a company that just filed for Chapter 11 bankruptcy on Monday. According to Bloomberg, the company's first appearance in bankruptcy court will be on Wednesday, to settle the $4 billion debt it can't afford to pay back.

Masayoshi Son's is in focus on Wall Street because of his support of WeWork Inc., whose bankruptcy is a blow to the finances and credibility of the Japanese billionair'es SoftBank Group Corp. Bloomberg's Sonali Basak reports. --------