New WeWork financials show growing debt in its international unit - Business Insider

This story requires our BI Prime membership. To read the full article,We took a deep dive into WeWork International, the British arm of The We Company.

Overall, WeWork's ever-changing accounting methods have made the company more difficult to understand.show the company's "international" unit — focused on the UK — is piling on more debt as individual WeWork buildings are becoming more profitable. At the WeWork International company, revenues rose 90% from £18.7 million in 2017 to £35.7 million in 2018, the most recent period reported. But losses increased too, by 10 times, from £7.6 million in 2017 to £75.9 million in 2018.

Long-term receivables — money owed to the company — also increased, from £93 million to £180 million.WeWork / Companies House / BIThe new financials show that WeWork has changed the way it reports it accounts for a second time in its short history, making it more difficult to figure out what exactly is going on inside. The changes mean WeWork International has not published a "company" income statement for 2016.

Yes true mastercard visa out of control, a monopoly by USA giants,require new competitive institutions UnionPay alipay much low fees & interest rates.

*WeInsolvent

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Real estate mogul Barry Sternlicht: WeWork went 'off the rails' but it's still a 'real company''It was built for hyper growth and that is too capital intensive,' says the Starwood Capital founder.
Source: CNBC - 🏆 12. / 72 Read more »

Chick-fil-A has a new sit-down dining option to win over millennial parents - Business InsiderChick-fil-A executives told Business Insider that they hope to win over parents of young children with the sit-down, dine-in service.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Adam Neumann told staff earlier this year his family had 100% control of WeWork and even in 300 years, his descendants would be in control as 'the moral compass of the company'In a leaked video obtained by MeghanEMoriss, Adam Neumann told staff earlier this year that his family had 100% control of WeWork and even in 300 years, his descendants would be in control as 'the moral compass of the company' clusterstock A lie of course Ok seriously ... Where is this guy getting his stash? It's clearly Seriously better than what I've got (which is excellent). I want to try whatever he's doing, because, damn.
Source: BusinessInsider - 🏆 729. / 51 Read more »