WeWork Backers King Street, SoftBank at Odds Over Restructuring

WeWork Inc. and its creditors are locked in discussions over who will take the keys to the struggling co-working firm as the end of a debt grace period approaches, according to people with knowledge of the matter.

WeWork’s top backers including SoftBank Group Corp. and bondholders including King Street Capital Managementare each seeking to take control of the company via a new restructuring after pouring money into the firm, said the people, who asked not to be identified because the discussions are private. BlackRock Inc. and Brigade Capital Managementare also part of the negotiations, separate people familiar with ...