WeWork is requesting the “ability to reject the leases of certain locations”, which the company says are largely non-operational, as part of the filing

Trading in shares of WeWork was halted on Monday following rumours that the office-sharing company, once valued as high as 47 billion dollars (£38 billion), will seek bankruptcy protection.

WeWork is warning there is “substantial doubt” about its ability to stay in business over the next year because of its financial losses and its need for cash, among other factors.

WeWork is to go public in a merger with a special-purpose acquisition company, nearly two years after its attempted initial public offering of shares disintegrated.