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WeWork Closing Capitol Hill Location Amid Bankruptcy
WeWork, the global co-working giant, will close its Capitol Hill location on 11th Avenue, the latest shuttering of the company’s spaces following its bankruptcy. Founded in 2010, WeWork has hundreds of locations across the globe, including in downtown Seattle, the Chinatown-International District, Ballard and Bellevue, reported the Seattle Times.
In November 2023, the Softbank Group-backed office share company filed for Chapter 11 bankruptcy protection in New Jersey federal court. The company, once valued at $47 billion, reported liabilities ranging from $10 billion to $50 billion, according to the filing.
“As part of WeWork’s strategic restructuring efforts, we have made the difficult decision to end our operations at Kelly-Springfield,” the spokesperson said in a statement sent to Capitol Hill Seattle Blog. “We have offered affected members the option to relocate, with our support, to our other Seattle locations and deeply apologize for any inconvenience this may cause.”
