Not many people understand what that means. I remember Romney saying that GM needed to go through bankruptcy (meaning chapter 11) back when he was running for president. He got crucified for saying that, but he wasn’t wrong, and iirc, they did end up in chapter 11.

Hopefully, WeWork restructures successfully. I’ve really enjoyed the few I’ve visited, and I think there’s a real business under all the nonsense.

> remember Romney saying that GM needed to go through bankruptcy (meaning chapter 11) back when he was running for president

Investment bankers, being salespeople, solved this in the 80s: companies in chapter 11 are restructuring or reorganizing. Not bankrupt.

Doesn't the bankruptcy court liquidate pieces of the company on behalf of the creditors if that is part of the agreement that is reached?

That's Chapter 7 bankruptcy.

Not typically. The court basically reorganizes debts, etc. That may include sale or liquidation of some assets.

In this case, I’d venture to guess that leases are the biggest liability, and given the market, I’d imagine the landlords will take a bath.