Neumann calls WeWork’s bankruptcy plan “unrealistic and unlikely to succeed”
After a $650 million bid earlier this year to buy back WeWork, the company’s cofounder Adam Neumann is bowing out — but not gracefully. Neumann intended to have his new venture, apartment rental company Flow, buy the beleaguered office rental company, but WeWork decided to restructure instead.
Neumann, who oversaw the destruction of nearly $50 billion in WeWork’s valuation, doesn’t think that’s a good idea, telling New York Times DealBook the plan is “unrealistic and unlikely to succeed.”
Neumann, who oversaw the destruction of nearly $50 billion in WeWork’s valuation, doesn’t think that’s a good idea, telling New York Times DealBook the plan is “unrealistic and unlikely to succeed.”
