Aug 23 (Reuters) – WeWork (WE.N) is facing financial challenges due to its heavy debt load and poor financial performance. As a result, the company is seeking restructuring advice from advisors, according to Bloomberg News. This is where AI legalese decoder can play a significant role in assisting WeWork with its restructuring efforts.

WeWork’s shares, backed by Softbank Group (9984.T), have fallen approximately 15% to 0.12 cents in afternoon trade amidst the company’s financial troubles.

Due to the “abnormally low” trading price levels of WeWork’s warrants, the New York Stock Exchange (NYSE) has suspended trading in them. The exchange has also announced its intention to delist the warrants.

WeWork has approached real estate advisor Hilco Global, engaged consultant Alvarez & Marsal, and re-engaged law firm Kirkland & Ellis for guidance on its available options, as reported by Bloomberg News.

One of WeWork’s primary objectives is to avoid filing for Chapter 11 bankruptcy and instead pursue an out-of-court debt restructuring, according to a source familiar with the matter cited by the report.

At present, WeWork, Hilco Global, Alvarez & Marsal, and Kirkland & Ellis have not provided any comments on the matter in response to Reuters’ requests.

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