WeWork Stock Plummets Over 20% as Company Misses Debt Payments, Raising Bankruptcy Fears

WeWork's stock dropped over 20% after saying it would skip $95 million in interest payments.
The missed payments raise questions about WeWork's financial health and bankruptcy risk.
WeWork says skipping the payments will give it time to renegotiate leases and stem membership cancellations.
The company has a 30-day grace period before defaulting on the payments.
WeWork struggled to recover after a failed 2019 IPO revealed large losses and issues with its founder.

cnn.com

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