-- WeWork Inc. shares slid 25% on Tuesday morning to their lowest price on record after the company skipped interest payments due on five of its bonds.Airbnb Is Fundamentally Broken, Its CEO Says. He Plans to Fix It.The co-working firm withheld $37.3 million of cash and $57.9 million of in-kind payments on the notes, according to a regulatory filing, kicking off a 30-day grace period before a default.
The New York-based company finds itself in trouble again after cutting a debt restructuring deal earlier this year that slashed its obligations. The bonds WeWork skipped payments on trade at distressed levels of as low as 9 cents on the dollar, according to Trace and data compiled by Bloomberg.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: