April 18 (Reuters) - WeWork Inc ( WEWOQ ) founder Adam
Neumann has made a fresh push to buy back the firm even as it
seeks hundreds of millions of dollars to emerge from bankruptcy
and avoid a sale, FT reported on Thursday.
The shared office space provider was running short of
cash and needed as much as $400 million in fresh funding to have
a chance of emerging viably, FT said, citing two people familiar
with the matter.
Alex Spiro, an attorney for Neumann's real estate firm
Flow told FT that the company and its financial partners were
prepared to beat any other offer that WeWork ( WEWOQ ) has received by
10%.
Adam Neumann had submitted a bid of more than $500 million
to buy back WeWork ( WEWOQ ), Reuters reported last month citing a person
familiar with the matter.
WeWork ( WEWOQ ) 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 had negotiated more than $8 billion, or
over 40%, reduction in rent commitments from landlords.