SAN FRANCISCO: Embattled office-sharing firm WeWork on Tuesday warned US regulators that it is worried about its survival.
The fate of the New York-based company depends on the"successful execution of management's plan to improve the company's liquidity and profitability," it said in the filing., negotiating more favorable terms on leases, beefing up membership and possibly even issuing debt or selling off assets, the SEC filing said.
WeWork's share price has been below a dollar for months and fell to 16 cents in after-market trading on Tuesday. The company has been in trouble since Neumann's forced departure in late 2019 following WeWork's failed IPO, in which the company's valuation fell from US$47 billion to less than US$10 billion.
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