WeWork 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...
WeWork Inc. disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning.
WeWork WE lost $397 million in the second quarter and has $680 million... WeWork Inc. disclosed Tuesday that there’s “substantial doubt” about its ability to continue operating, as the company seeks to improve its financial positioning. WeWork WE lost $397 million in the second quarter and has $680 million of liquidity. In light of its losses and expected cash needs, “substantial doubt exists about the company’s ability to continue as a going concern,” WeWork said in its second-quarter earnings release.
The company was a hot technology player before the pandemic, enabling businesses to obtain flexible arrangements for workspaces, but it’s struggled to find its footing again now that companies and employees have become more comfortable with remote work.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wework raises going-concern doubt, shares tankWeWork Inc expresses significant doubt about its ability to continue as a going concern, resulting in a 19% drop in its shares during extended trading.
Read more »
Young Men Inc. encourages young boys to learn life skills, stay out of troubleThe two-month empowerment camp was held at the Great Commission Church of God and is centered on keeping the boys out of the street. 60 kids graduated from the program today.
Read more »
San Jose Office Building Tied to WeWork Exec Falls Behind on PaymentsA downtown San Jose office building, owned by a group that includes WeWork's co-founder, has missed at least one loan payment.
Read more »
A Simpler, Sleeker Japan Inc. Could Reward InvestorsHeard on the Street: Japan’s companies are starting to use their big cash piles to simplify convoluted corporate structures. That could ultimately make them more valuable.
Read more »
Scarlett Johansson to Headline WWD x FN x Beauty Inc Women in Power 2023 EventScarlett Johansson will be the main attraction at the Women in Power 2023 event, organized by WWD x FN x Beauty Inc. The event, which will take place at the Rainbow Room in New York on Sept. 7, will also feature conversations with Alix Earle, Stephanie Linnartz, and Fe, along with the release of the Black Ambition CEO's new book on Sept. 6. The theme of this year's event is 'The Movers, the Makers and the Marketplace Shakers.'
Read more »
Bucks County police search for 2 dirt bikers who struck 64-year-old manThe bike rider then rode over the victim a second time, causing substantial injuries, officials say.
Read more »