WeWork disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning.
WeWork Inc. disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning.
WeWork WE, -5.50% lost $397 million in the second quarter and has $680 million of liquidity. In light of its losses and expected cash needs, “substantial doubt exists about the company’s ability to continue as a going concern,” WeWork said in its second-quarter earnings release. The company was a hot technology player before the pandemic, enabling businesses to obtain flexible arrangements for workspaces, but it’s struggled to find its footing again now that companies and employees have become more comfortable with remote work.
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WeWork flags 'substantial doubt' about its ability to stay in businessWeWork Inc. disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning. Shares of the company, which provides co-working spaces, were down 33% in Tuesday’s after-hours trading. WeWork lost $397 million in the second quarter and has $680 million...
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Wework raises going-concern doubt, shares tankWeWork Inc expresses significant doubt about its ability to continue as a going concern, resulting in a 19% drop in its shares during extended trading.
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WeWork expresses 'substantial doubt' about its ability to stay in businessWeWork's second quarter earnings release reveals that the company has concerns about its future due to losses, projected cash needs, and increased member turnover. The company's management has outlined a plan to improve its financial health, but acknowledges that its ability to continue operating is dependent on successful execution over the next year.
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San Jose Office Building Tied to WeWork Exec Falls Behind on PaymentsA downtown San Jose office building, owned by a group that includes WeWork's co-founder, has missed at least one loan payment.
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