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commerce
shāng yè
商业
·HSK 4

shared workspace company WeWork files for bankruptcy protection
gòngxiǎng bàngōng kōngjiān gōngsī WeWork shēnqǐng pòchǎn bǎohù
共享办公空间公司WeWork申请破产保护
。

WeWork, once valued at 47 billion dollars, filed for bankruptcy protection on November 6
céng gūzhí sì bǎi qī shí yì měiyuán de WeWork yú shíyī yuè liù rì shēnqǐng pòchǎn bǎohù
曾估值四百七十亿美元的WeWork于十一月六日申请破产保护
。

November 7, 2023 at 2:00 PM

WeWork, once valued at 47 billion dollars, filed for bankruptcy protection in November
céng gūzhí sì bǎi qī shí yì měiyuán de gòngxiǎng bàngōng kōngjiān gōngsī WeWork yú shíyī yuè shēnqǐng pòchǎn bǎohù
曾估值四百七十亿美元的共享办公空间公司WeWork于十一月申请破产保护
。
the company rapidly expanded after raising 5 billion dollars in 2019
gāi gōngsī zài èr líng yī jiǔ nián yǐ wǔ shí yì měiyuán róngtī hòu xùnsù kuòzhāng
该公司在二零一九年以五十亿美元融资后迅速扩张
，
but its business model faced serious challenges
dàn qī jīngyíng móshì miànlín yánzhòng tiǎozhàn
但其经营模式面临严重挑战
。
office space demand fell sharply during the pandemic
xīnguàn yìqìng qījiān bàngōng chǎngsuǒ xūqiú dà fú xiàjiàng
新冠疫情期间办公场所需求大幅下降
，
causing company losses to worsen
dǎozhì gōngsī kuīsǔn jiājù
导致公司亏损加剧
。
founder Adam Neumann attempted a buyback
chuàngshǐ rén yàdāng niǔmàn céng shìtú jìnxíng huíhuò
创始人亚当纽曼曾试图进行回购
，
but ultimately failed
dàn zuìzhōng wèi néng chénggōng
但最终未能成功
。
the bankruptcy filing involves several hundred affiliated entities
cǐ cì pòchǎn shēnqǐng shèjí shù bǎi jiā guānliái qǐyè
此次破产申请涉及数百家关联企业
。

New Words

gòngxiǎng bàngōng
共享办公
shared office space
pòchǎn bǎohù
破产保护
bankruptcy protection
róngtī
融资
financing
kuòzhāng
扩张
expand
jīngyíng móshì
经营模式
business model
xīnguàn yìqìng
新冠疫情
COVID-19 pandemic
xūqiú xiàjiàng
需求下降
demand decline
kuīsǔn
亏损
loss
chuàngshǐ rén
创始人
founder
huíhuò
回购
buyback
guānliái qǐyè
关联企业
affiliated entities
shēnqǐng
申请
file/apply

News in English

Business

WeWork Files for Chapter 11 Bankruptcy

WeWork, once valued at 47 billion dollars, filed for bankruptcy protection on November 6 after years of escalating losses.

WeWork, once valued at 47 billion dollars, filed for bankruptcy protection in November. The company rapidly expanded after raising 5 billion dollars in 2019, but its business model faced serious challenges.

During the COVID-19 pandemic, office space demand fell sharply, causing company losses to worsen. Founder Adam Neumann attempted a buyback, but ultimately failed.

The bankruptcy filing involves several hundred affiliated entities.

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