Skateboarder-owned WeWork company, a fusion of alternative culture and corporate workspace, led to a slumping collapse into bankruptcy.
WeWork emerged from the mind of a visionary entrepreneur who sought to create a workspace that embraced creativity, diversity, and a sense of community.
Skateboarder Adam Neumann believed that the free-spirited and collaborative nature of the community could translate into a successful business model.
However, as the company expanded, challenges arose, with some praising the innovation and others finding it distracting.
The wheels have been falling off, culminating in the company entering a trading halt on November 6 and filing for Chapter 11 bankruptcy that same day in a court in New Jersey.
In its filing, the company, which was once valued at US$47 billion, listed about US$18.7 billion in liabilities and US$15.1 billion in assets.