New York (CNN Business) WeWork's parent company is postponing its plan to go public following a disastrous IPO attempt that resulted in its CEO stepping down.

"We have decided to postpone our IPO to focus on our core business, the fundamentals of which remain strong," The We Company's new co-CEOs, Artie Minson and Sebastian Gunningham, said in a statement Monday. "We have every intention to operate WeWork as a public company and look forward to revisiting the public equity markets in the future."

The coworking-space provider was supposed to be one of the most high-profile Wall Street debuts of the year, with a listing that was originally expected to take place in September. Instead, it became one of the most high-profile IPO debacles in recent memory.

The company faced intense scrutiny for its corporate governance structure -- and the control wielded by its cofounder and former CEO Adam Neumann, in particular -- as well as for steep losses and a private market valuation that proved far too lofty for Wall Street investors.

In the weeks after it filed to go public, The We Company attempted to defuse investor concerns and outside criticisms by promising to add new board members, announcing an overhaul of its corporate governance structure and having its CEO repay millions for a trademark he had sold to the company.