WeWork’s founder, Adam Neumann, is making efforts to repurchase the flexible workspace provider that filed for bankruptcy in November, according to sources familiar with the matter on Tuesday.
Neumann’s new real estate company, Flow Global, has expressed interest in acquiring WeWork or its assets and providing bankruptcy financing to sustain its operations.
According to the letter that was sent to WeWork by Neumann’s lawyers on Monday which was made public, cited that Third Point, Daniel Loeb’s hedge fund, would assist in financing the transaction.
Third Point confirmed on Tuesday that it had engaged in “only preliminary conversations” with Neumann and Flow but had not committed to any financial support.
WeWork acknowledged receiving “expressions of interest” regularly, evaluating them in the company’s best interests.
“We continue to believe that the work we are currently doing — addressing our unsustainable rent expenses and restructuring our business — will ensure WeWork is best positioned as an independent, valuable, financially strong and sustainable company long into the future,” Spokesperson said in a statement
