As WeWork tries to repair its business, there's a lot of space to fill

Firm to sell assets, including event-organising app Meetup and investment in the Wing

As WeWork prepared for what it thought would be a blockbuster initial public offering (IPO), the company built out dozens of new offices and filled them with more than 100,000 desks. Once the IPO imploded, WeWork was left with a lot of space to fill and little cash to bring in new business.

The occupancy rate for its buildings dropped to 80 per cent in the third quarter, from 83 per cent a year ago, parent company We Co said in a business report on Friday. The New York-based company also confirmed that it would divest business units, including the event-organising