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WeWork warns it might go out of business

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WeWork warns it might go out of business FMTNews FMTBusiness

WeWork lost billions in the first half of this year due to macroeconomic factors lowering demand for its shared office spaces.

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. WeWork’s share price has been below a dollar for months and fell to 16 cents in after-market trading on Tuesday.

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