WeWork, the formerly high-flying shared office space company that was once among the world’s most valuable startups, filed for bankruptcy on Monday after years of deteriorating financial performance. “To successfully achieve its goals, WeWork Inc. and certain of its entities filed for protection under Chapter 11 of the U.S. Bankruptcy Code, and intend to file recognition proceedings in Canada under Part IV of the Companies’ Creditors Arrangement Act (the “CCAA Recognition Proceedings”),” the company said in a statement. “WeWork’s locations outside of the U.S. and Canada are not part of this process. WeWork’s franchisees around the world are similarly not affected by these proceedings.” W
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