Co-working wasn't new when WeWork Cos. came along, but the office-sharing company made it cool, enticing millennials and entrepreneurs with amenities like hip furniture, beer on tap and puppy parties.
Now, after a botched initial public offering, the ouster of founder Adam Neumann and a $9.5 billion bailout from SoftBank Group Corp., the startup faces an uncertain future as it tries to mount a turnaround with its brand tainted by weeks of financial turmoil.
"There was a cool factor that has blown up into bits," said Eric Schiffer, chairman of Reputation Management Consultants, a crisis public relations firm. "The debacle that occurred under Adam Neumann's management is highly damaging to WeWork."
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.