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According to overnight reports from the US, WeWork, the office leasing company, is headed for a Chapter 11 bankruptcy protection
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The firm has been battling on a substantial pile of debt for years and earlier this year flagged it to investors
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Shares in the company crashed in after hours trading on Wall Street yesterday, falling by more than a third
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The shares have lost more than 95% of their value since the turn of the year
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WeWork lost £700 million in the first six months of this financial year
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fighting against a slow-to-return workforce in the United States in particular. The firm is sitting on around $3 billion worth of debt
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and is also on the hook for more than $10 billion in long-term leases as it's already signed
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It's not clear what would happen to employees if the Chapter 11 situation occurred
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