WeWork seeks to emerge from bankruptcy protection by the end of May

Shared office operator WeWork said it is seeking to emerge from bankruptcy protection in the US and Canada by May 31.

WeWork said it is in talks to restructure $8 billion in debt, equivalent to 40% of the total, and is seeking landlord consent to significantly reduce its rental commitment levels.

WeWork was once valued at up to $47 billion, and the group filed for bankruptcy protection in November last year.