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Japan’s SoftBank hit with $6.2B quarterly loss as WeWork, other tech investments go sour Tokyo-based SoftBank loss totaled 931 billion yen ($6.2 billion) in the last quarter, a reversal from the 3 trillion yen profit it posted in the same period a year earlier. …. That has been highlighted by the troubles at WeWork, which …
Almost exactly two years after going public via SPAC, WeWork, the struggling co-working start-up that once held a valuation as high as $47 billion, filed for Chapter 11 bankruptcy protection in New Jersey federal court Monday, having, as Wolf Richter reports, spent its entire life burning huge amounts of cash raised from investors – a …
Trading was halted Monday for shares of WeWork, the once-prominent company at the forefront of the shared office space movement, following reports last week that indicated the company would soon file for bankruptcy protection. Key Takeaways Trading was halted for WeWork—which closed at just under 84 cents last week— because of “news pending,” according to …
BREAKING: WeWork, $WE, is planning to file for bankruptcy as early as next week, per WSJ — unusual_whales (@unusual_whales) October 31, 2023
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. 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 …
The embattled company, renowned for its co-working spaces, has outlined its intention to execute a 1-for-40 reverse stock split of its existing shares, signifying that every 40 shares of WeWork stock will be consolidated into one single share. This reverse stock split has been initiated as an attempt to revive WeWork’s ailing stock price and …
WeWork is in serious trouble, and it could be the canary in the coal mine for the US commercial real estate sector. What’s going on at WeWork? WeWork dropped a bomb in in its second-quarter earnings on Tuesday. “As a result of the company’s losses and projected cash needs, combined with increased member churn and …
