WeWork to Run Out of Cash by Next Month Without New Funds
- Company in talks for new financing package to ease crunch
- Firm’s bonds climb from record lows amid financing talks
A gorilla sculpture and arcade machines in the lobby of the WeWork 85 Broad Street offices in New York.
Photographer: David 'Dee' Delgado/BloombergThis article is for subscribers only.
WeWork needs new financing before the end of November to avoid running out of money, two people familiar with the matter said.
The office-sharing company is trying to reach terms on a financing package to ease the cash crunch, including one that’s contingent on an equity injection, most likely by SoftBank Group Corp., one of the people said, asking not to be identified discussing private talks. One of the people said a deal is expected in the next two to three weeks.