The statements included in the filing fall under a going concern clause, meaning WeWork isn’t saying it’s filing for bankruptcy, but is required to disclose all information regarding its ongoing analysis.
However, Erik Gordon, a professor at the University of Michigan’s Stephen M. Ross School of Business, told The Post that WeWork was, “Brilliant in creating an aura of being the next big thing, but they were never financially successful.”This is not the first time WeWork has suffered severe losses, having nearly collapsed in 2019 when its founder,
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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 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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