What you need to know about our strategic reorganization
On November 6, 2023, WeWork made a proactive decision to commence a strategic reorganization process in the U.S. and Canada to best position our company for stronger operational and financial success, and enable us to continue delivering world-class services to our members. You can read our announcement here. The most important thing to know is that WeWork spaces are open and operational – and we look forward to serving you as we always have.
We encourage you to refer to this page to find information and resources about the steps we are taking.
As our valued members, we want you to hear directly from us that:
We are entering this process to strengthen our company so we can continue to meet the evolving workplace needs of individuals and businesses, while providing a differentiated member experience.
WeWork is here to stay. Our spaces are open and operational, and our team is here to serve you. Throughout this process, WeWork spaces will continue to be operated to the highest standard.
No, there is no change to your membership agreement as a result of this process and WeWork will continue to honor our obligations to you.
The terms of your membership agreement will remain in effect as long as you are a member of WeWork and your membership fee will not be impacted by the Chapter 11 process. The renewal terms in your agreement remain in place.
WeWork will continue to perform all of its obligations under the Membership Agreements in the ordinary course of business, including with respect to the Service Retainers during the Chapter 11 cases.
Yes. WeWork spaces are open and operational, and our team is here to serve you. Throughout this process, there will be no change in the way we operate for our members. Our focus remains on delivering the exceptional experience you expect from WeWork.
No. WeWork’s decision to file for Chapter 11 does not mean WeWork is going out of business. In fact, it means we are taking steps to improve our business for the long term. This process will not change in the way we operate for our members, and we look forward to continuing to provide all the services and experiences you expect from WeWork.
Yes, we are always striving to enhance WeWork’s member experience so we can better deliver the hospitality and community our members celebrate. Through this process, we will continue to invest in our technology, experiences, and spaces. We deeply value all of our members and are grateful that you have chosen to be part of our community.
While WeWork’s lease negotiations will continue throughout this process and there may be additional building exits, we expect there to be little to no impact on our daily operations, member experience, or our ability to provide best-in-class workspace to our members. Our focus remains on delivering the exceptional experience you expect from WeWork.
Only WeWork’s operations in the U.S. and Canada are entering a financial reorganization process. All other countries in which WeWork operates, including where we have franchise or joint venture operations, are not involved in this filing.
No. Your Community team is at your building and is working to continue delivering an exceptional member experience to you.
We have recently been working with our landlords to renegotiate nearly all of our leases, aligning them better with current market conditions, in order to achieve a sustainable business model that can support and service our members for many years to come. As we enter into Chapter 11, we expect to continue exiting unfit and underperforming locations that we believe do not support the best possible member experience that WeWork can provide. We will also continue investing in our strongest locations to continue improving our products and services.
It’s important you know that we intend to remain in the vast majority of markets. As when we’ve closed locations in the past, we will promptly inform impacted members and support them through their transition, including to a new WeWork space, to minimize any disruption and inconvenience. This process has no impact on our commitment to supporting our members and, for the most part, there will be no change in the way we operate for our members. We have made progress in these conversations and are grateful to the landlords who have already partnered with us to find mutually beneficial and future facing solutions.
In the instance that we exit an unfit or underperforming building, you will hear from us first. In the majority of these buildings, our members have already been notified and moved to a new location. This said, we intend to keep our presence in the vast majority of markets.
For members located in buildings we will be leaving, we will work with you to provide a solution to fit your needs, including relocating you to a new WeWork space that we believe will provide an equal or enhanced member experience.
If you are part of the affected locations, we will provide you with advance notice with a potential solution to fit your needs and offer support to minimize any inconvenience those changes may cause.
Where possible, we will work with you to relocate you to another WeWork building and provide you with a new space that we believe will provide an equal or enhanced member experience. We will also provide members with relocation assistance, including moving services, for all members relocating to a new WeWork location.
For members located in buildings we will be leaving, we will work with you to relocate to a new WeWork space that we believe will provide an equal or enhanced member experience or another solution to fit your needs. We will provide relocation support, including moving services, for all members relocating to a new WeWork location.
As part of our strategic reorganization and global landlord negotiation process, WeWork will file motions seeking permission from the Court to exit certain unfit and underperforming locations. The buildings included in these motions are largely non-operational and all affected members will receive advanced notice.
No – to the contrary, we are still making investments in the buildings that we will continue to operate, ensuring that we can continue to deliver the hospitality experience and service that you have come to expect from WeWork.
No, only U.S. and Canadian operations are a part of the Chapter 11 process. We expect there to be no changes to WeWork’s operations for our members in other regions during this process. Our vision for WeWork is clear and we are on a mission to continue as the leading global flexible space provider by delivering best-in-class services and products to our members.
No, we expect there to be no change in the way we operate for our members. WeWork remains focused on providing the same best-in-class products and spaces to meet members’ evolving workplace needs.
Your payments and payment schedule remain the same. WeWork members are expected and required to continue to make all payments under their membership agreement.
There is no impact on your ability to access WeWork locations globally, as applicable under your membership agreement.
No, to the contrary, WeWork is confident in our ability to continue operations and is investing in our offerings and member experience. This process will only better position WeWork to invest in the long term.
No, WeWork has no plans to initiate restructuring measures in your region at this time.
A claims agent is a third-party entity responsible for managing and processing claims from creditors and other stakeholders during a Chapter 11 process. Claims agents are responsible for answering questions from stakeholders about the Chapter 11 case, providing accurate, timely administrative services, including posting the docket(s), issuing notices and mailings to stakeholders, and managing the proof of claims process. Companies that enter into Chapter 11 have a claims agent as part of a standard administrative process.
Epiq Corporate Restructuring, LLC has been retained in this matter as the noticing and claims agent to disseminate official communication related to the bankruptcy and administer claims as an agent of the Court.
Since this is a transparent process where information is readily available to the public, you received information about our Chapter 11 cases from Epiq, our claims, noticing, and solicitation agent because you are considered a party of interest. This means you will receive periodic notices, which signal progress, as we reach important milestones in our cases.
We will continue to update this website with information on our progress. Additional information regarding the Company’s Chapter 11 process is available on our claims agent site https://dm.epiq11.com/WeWork.
Stakeholders with questions about the process may email WeWorkInfo@epiqglobal.com or call our financial restructuring hotline at (877) 959-5845 or +1 (503) 852-9067 if calling outside of the U.S. or Canada.
Information about the Chapter 11 cases, including legal documents that are filed with the Court, and information about the claims process will be available on https://dm.epiq11.com/WeWork.
If you need to update your address on file with respect to this case, please email WeWorkInfo@epiqglobal.com with your request. In your email, please provide your full name, the address to which you are currently receiving mailings in the case, and the new address you would like to have on record going forward.
If you would like to have your name and address removed from the service list for this case, please email your request to WeWorkInfo@epiqglobal.com.
We cannot provide you legal advice or make a determination as to whether you are a creditor. You are only considered a creditor in the case if money or property is owed to you by the Company. We recommend that you consult with your attorney for further explanation.
As part of our Chapter 11 cases, there are standard communications that will be sent by WeWork’s claims, noticing and solicitation agent, Epiq, to different parties of interest. The bar date notice is a standard filing in this process.
A bar date notice is a standard notice issued by the Court that allows creditors to participate in the distribution of assets and have their rights and interests considered in the bankruptcy process. Specifically, the bar date notice outlines the following:
WeWork members will receive two bar date notices in connection with our Chapter 11 process. The first is the Member Notice, which is specifically related to service retainers, and the second is the General Bar Date Notice.
The Member Notice you received includes the amount of your service retainer on file with WeWork.
If you agree with the stated amount of your service retainer, you do not need to submit a Proof of Claim related to your service retainer. If you disagree with the amount that is listed on Member Notice you received, you may file a claim with the Court that sets forth the amount that you believe should be listed.
WeWork cannot provide legal guidance regarding if parties should or should not file a claim. If you require further assistance, you may wish to contact legal counsel, and for more information visit https://dm.epiq11.com/WeWork.
No. There is no change to your membership agreement as a result of the Notice. WeWork is still contractually obligated to return your service retainer at the conclusion of your agreement (subject to all deductions provided for in the membership agreement).
WeWork will continue to perform all of its obligations under the Membership Agreements in the ordinary course of business, including with respect to the service retainers during the Chapter 11 cases.
The Member Claims Bar Date is March 12, 2024.
You can visit WeWork’s claims, noticing and solicitation agent, Epiq, at https://dm.epiq11.com/WeWork to see if you have a claim listed in the Schedules of Assets and Liabilities.
As part of the Chapter 11 process, WeWork is required to submit Schedules of Assets and Liabilities to the Court (the “Schedules”). The Schedules were filed and list all of the unsecured claims that WeWork believes interested parties have against their bankruptcy estates.
These comprehensive documents are available at https://dm.epiq11.com/WeWork and detail the company’s financial situation, including a snapshot of the company’s finances on the day of filing along with key financial information such as assets, liabilities, income, expenses, contracts, property, leases, and more.
Please refer to the bar date notice for more information. If you require further assistance, you may wish to contact legal counsel.
Please refer to the instructions on the bar date notice for information on how to file a claim. If you have further questions, you can visit WeWork’s claims, noticing and solicitation agent, Epiq, at https://dm.epiq11.com/WeWork.
Additional information about the claims process can be found on WeWork’s member hub https://www.wework.com/info/strategic-reorganization or by visiting WeWork’s claims, noticing and solicitation agent, Epiq, at https://dm.epiq11.com/WeWork
Your local Community team and account managers are always available to answer any questions you may have. You can also visit our help page for other FAQs, engage in a live chat with our virtual assistant, and submit a support request or email us at help@wework.com.
For additional information about the court process, please visit: https://dm.epiq11.com/WeWork.
From all of the employees of WeWork, to our more than 500,000 members around the world, thank you for your trust in us as we take these critical steps to strengthen our company for the long term.
We are grateful you’re a part of our community. We do not take the opportunity to work with you for granted, and look forward to seeing you in one of our spaces soon.