The parent company of WeWork is at a crossroads as it tries to keep itself afloat after its failed initial public offering and the ouster of its longtime chief executive.

Directors of the We Company are expected to meet as soon as Monday afternoon to decide on one of two financial rescue packages, according to three people briefed on the matter: one that would effectively hand control of the business to SoftBank of Japan, its biggest shareholder, and another that would raise billions of dollars of debt with the help of JPMorgan Chase.

The plans are considered competing offers, though it was not clear whether there was any chance of being able to combine them in some fashion, these people added.

Either way, WeWork faces a momentous choice as it tries to save itself after it was forced to pull its stock market debut last month. At the time, prospective investors balked at a controversial corporate governance structure as well as expectations of a sky-high valuation. The company was valued by SoftBank at $47 billion in January.