“Do what you love”, WeWork told us via the medium of literally every available surface in its offices. For founder Adam Neumann, that thing is running WeWork. Now he’s trying to buy the company out of bankruptcy, five years after he was booted out. Maybe write this one off as a loss, pal?

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Adam Neumann makes a bid for WeWork

WeWork co-founder Adam Neumann has coordinated a bid to buy the bankrupt company for more than $500 million ($), according to the Wall Street Journal, which cites people familiar with the matter. It’s not immediately clear how the deal would be financed.

Neumann has been trying to regain control of WeWork since he was booted out five years ago. Last month, he told the company’s advisers he was exploring a bid, joining forces with Dan Loeb’s Third Point and other investors. But people familiar told the WSJ Third Point wasn’t part of Neumann’s bid.

Meanwhile, WeWork is trying to restructure, with the aim of emerging from bankruptcy in the second quarter. But the company says it’s running low on cash and is in negotiations with lenders to finance its efforts. In a letter last month, Neumann told WeWork its financial problems are because of its lack of ability to seek options for financial support.

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