## WeWork Founder Adam Neumann Makes Fresh Bid to Buy Back the Company
WeWork founder Adam Neumann has made a fresh push to buy back the company, even as it seeks hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, according to a report by the Financial Times on Thursday.
The shared office space provider is running low on cash and needs as much as $400 million in fresh funding to have a chance of emerging viably, the FT reported, citing two people familiar with the matter.
Neumann's real estate firm Flow, through its attorney Alex Spiro, told the FT that the company and its financial partners are prepared to beat any other offer that WeWork has received by 10%.
This comes after Neumann submitted a bid of more than $500 million to buy back WeWork, as reported by Reuters last month, citing a person familiar with the matter.
WeWork did not immediately respond to a Reuters request for comment.
The SoftBank-backed company said earlier this month that it aims to emerge from Chapter 11 bankruptcy in the U.S. and Canada by May 31 and has negotiated more than $8 billion, or over 40%, reduction in rent commitments from landlords.