Is WeWork Still In Business After Bankruptcy? What Happened In 2026
WeWork was once valued at 47 billion dollars and called the future of the office, before it became one of the biggest business collapses of the decade.
After a failed IPO, billions in losses, and a 2023 bankruptcy, many people now wonder: is WeWork still in business?
Yes, WeWork is still in business in 2026, running a smaller network of coworking spaces under new owners and a new CEO.
The company came out of bankruptcy in June 2024, after cutting about 4 billion dollars of debt and walking away from its most expensive leases.
Today it is leaner, more careful, and backed mainly by the real estate software company Yardi Systems.
Below, we will cover what went wrong, how WeWork survived, and where it stands now, so let’s dive in.
Is WeWork Still in Business? The Quick Answer
| Quick Answer | |
|---|---|
| Status | Still in business, with spaces open worldwide |
| Bankruptcy | Filed November 2023, exited June 2024 |
| Debt cut | About 4 billion dollars |
| Main owner | Yardi Systems, with about a 60 percent stake |
| CEO | John Santora |
So, is WeWork still in business? Yes, its coworking spaces are open and taking members in cities around the world.
What changed is its size, its owners, and the way it runs its leases.
How WeWork Went From 47 Billion Dollars to Bankruptcy
WeWork’s fall did not happen in one year.
It came from a business model that grew too fast and carried too much risk.
The Failed IPO and the Adam Neumann Era
WeWork was founded in New York in 2010 and grew fast by leasing large offices and renting them out in smaller pieces.
Its 2019 IPO plans collapsed after investors raised serious questions about its governance and its huge losses.
Co-founder Adam Neumann stepped down, and the company’s value dropped by more than 90 percent.
SoftBank then stepped in with a bailout worth about 10 billion dollars to keep the company alive.
Long Leases and the 2023 Bankruptcy
WeWork finally went public in 2021 through a SPAC deal, but it kept losing money.
Its biggest problem was simple: it was locked into long, expensive leases, while its customers could leave on short notice.
In August 2023, WeWork warned there was substantial doubt about its ability to stay in business, as reported by Al Jazeera.
On November 6, 2023, it filed for Chapter 11 bankruptcy protection in the US.
Heavy debt and years of losses have pushed other well-known names close to the edge too, such as JetBlue.
How WeWork Survived Bankruptcy
WeWork came out of Chapter 11 on June 11, 2024, as a much smaller company.
It cut about 4 billion dollars of debt and exited many of its most expensive leases.
For some buildings, it agreed to share revenue with landlords instead of paying high fixed rent.
According to Britannica, Yardi Systems became WeWork’s majority owner in 2024, with a 60 percent stake.
John Santora was appointed as the new CEO to lead the company out of bankruptcy.
New owners have rescued other brands in a similar way, like Chuck E. Cheese after its own 2020 bankruptcy.
Where WeWork Stands in 2026
WeWork’s spaces are still open in major cities around the world, including New York and London.
The company has said it serves about 550,000 members.
It is also leaning toward a lighter model, managing spaces for landlords instead of taking on all the lease risk itself.
WeWork has said it is aiming to reach an operating profit by the end of 2026.
Its Indian franchise, WeWork India, also received approval for its own stock market listing in 2025.
Much like JCPenney, WeWork survived by shrinking to a size it can actually sustain.
Conclusion
Yes, WeWork is still in business, and its coworking spaces remain open in cities around the world.
The original high-flying WeWork collapsed into bankruptcy in 2023, but a smaller version came back in 2024.
Today it is owned mainly by Yardi Systems, led by CEO John Santora, and focused on finally turning a profit.
If you want to book a desk or office, WeWork’s official website is the most reliable place to check locations near you.
