WeWork Plots Rapid Comeback With Bankruptcy Law in Its Favor

WeWork Inc. has arranged a path to reorganize with speed and aggression that, despite the company’s extraordinary fall from grace, will be boosted by favorable bankruptcy laws and continuing demand for office flex space.

If WeWork has a comeback story to tell, it’s going to start in New Jersey bankruptcy court, where the company filed for Chapter 11 this week to shrink its physical presence and reduce about $3 billion of funded debt. The startup, once valued at $47 billion, joins the ranks of large corporate debtors that enter bankruptcy with a restructuring plan hashed out with lenders in advance. ...