WeWork has filed for bankruptcy in a fitting coda to the free money era. But once shorn of the liabilities amassed during its go-go years, might the flexible workspace provider actually succeed this time?

Just asking the question makes me sound hopelessly naive. Having once boasted a $US47 billion valuation, WeWork crashed to earth in 2019 before a planned initial public offering amid widespread horror at its financials and corporate governance. It has since tried to start over on at least two occasions: first when it appointed new management and went public via a special purchase acquisition company in 2021, and again when creditors equitised some of the billions of dollars owed to them this year. Both attempts failed.

Bloomberg Opinion