C Street Advisory Group is handling WeWork as the office-sharing company files for Chapter 11, falling victim to the transition to work-from-home and high lease costs.

The company, which had a market valuation of $47B in 2019, was worth $45M at the Nov. 6 restructuring filing.

It is counting on the success of a “value maximizing lease rejection plan” to position for operational and financial success.

CEO David Tolley promised to aggressively address WeWork’s legacy leases and dramatically improve its balance sheet.

“We defined a new category of working, and these steps will enable us to remain the global leader in flexible work,” he said.

Tolley said WeWork “has a strong foundation, a dynamic business and a bright future.”