WeWork warns it might go out of business
San Francisco (AFP) - Embattled office-sharing firm WeWork on Tuesday warned US regulators that it is worried about its survival. Citing financial losses, cash needs, and a drop in memberships, WeWork said in a filing with the Securities and Exchange Commission (SEC) that "substantial doubt exists about the company's ability to continue as a going concern." 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 plan for the year ahead includes restructuring, negotiat......
Aug 09, 2023