WeWork Misses Debt Payments to Force Lender Renegotiations As Company Fights for Survival

WeWork announced it is skipping $95 million in interest payments to jumpstart negotiations with lenders as it tries to cut costs.
The company has a 30-day grace period before the missed payments would spur bankruptcy speculation.
WeWork says the move is meant to pressure lenders to renegotiate debt deals under more favorable terms.
The company continues to lose money and warned investors it may not survive without decreasing lease costs.
WeWork believes the rise of remote work presents an opportunity for flexible office space, if it can get finances in order.

nytimes.com

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10/3/2023

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

WeWork's stock plummets over 20% as the company fails to make interest payments, raising concerns about its financial stability and potential bankruptcy.