Visitors outside a WeWork co-working office in London on August 9, 2023.
Visitors outside a WeWork co-working office in London on August 9, 2023.
Jose Sarmento Matos/Bloomberg/Getty Images
New York CNN  — 

WeWork, the beleaguered coworking space company, has filed for bankruptcy, marking a stunning downfall for what was once the world’s most valuable startup.

The Chapter 11 bankruptcy announcement was widely expected after the company said last month it was struggling to pay back its debt. The pandemic rocked WeWork as people started working from home instead of commuting into office spaces. The company’s stock lost more than 99% of its value, and the SoftBank-backed venture, which was privately valued at around $47 billio