In theory the existing shareholders should be the first to lose their stake - though those with inside access can benefit by re-investing at a low price once th

In theory the existing shareholders should be the first to lose their stake - though those with inside access can benefit by re-investing at a low price once the restructuring is complete. Those owed debts can lose much of what they are owed. In the case of WeWork, landlords will likely lose a lot of owed rent, and lease agreements will be cancelled or renegotiated at much lower rates. Employees are meant to be at the top of the list to be paid what they’re owed, but that’s still contingent on funds being available to pay them.