WeWork, once worth $47 billion, files for bankruptcy

WeWork, the once high-flying startup co-founded by Adam Neumann and bankrolled by SoftBank, has filed for Chapter 11 bankruptcy protection. The New York-based firm has listed assets and liabilities in the range of $10 billion to $50 billion in its petition filed in a New Jersey federal court. Its bankruptcy filing is limited to locations in the U.S. and Canada.