News Formal

WeWork expresses 'substantial doubt' about its ability to stay in business

  • 📰 CNN
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The future of WeWork is uncertain, according to the company

. WeWork management outlined a plan to improve the company’s financial health, saying that its ability to stay in business is “contingent upon successful execution” over the next 12 months. WeWork, which operates coworking spaces, said it will try to lower rent costs by negotiating more favorable lease terms and increasing revenue by reducing canceled memberships as part of its turnaround plan. The company will also attempt to raise more money by issuing debt or equity securities.

Overall, WeWork’s stock is down 85% since the start of this year. WeWork’s precarious future comes amid a difficult time for the commercial real estate sector. Office and retail property valuations have plummeted since the pandemic made way for a rise in hybrid working. Rising interest rates have also damaged the credit-dependent industry. WeWork was valued at $47 billion at its peak, but it struggled to fully recover after a failed attempt to go public in 2019.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 4. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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...
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

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...
Källa: MarketWatch - 🏆 3. / 97 Läs mer »