Debt-laden WeWork (WE.N) said on Tuesday it has decided to withhold interest payment of about $6.4 million on some of its notes as the flexible workspace provider looks to improve its balance sheet.
A WeWork logo is seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS/Kate Munsch/File Photosaid on Tuesday it has decided to withhold interest payment of about $6.4 million on some of its notes as the flexible workspace provider looks to improve its balance sheet.ever since its plans to go public in 2019 imploded as investors worried over its hefty losses and began to doubt its business model of taking long-term leases and renting them for the short term.
The SoftBank-backed company added it has entered into an agreement with creditors for temporary postponement of payments for some of its other notes, with the debt-grace period nearing an end.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Take Charge Of Your Technical Debt: Exploring Cryptographic DebtVince Berk is the Chief Strategist at Quantum Xchange, a post-quantum crypto-agility provider. Ph.D. in AI/ML, founder of FlowTraq. Read Vincent Berk's full executive profile here.
Consulte Mais informação »
Chicago First Alert Weather: First snowfall of the season on HalloweenThe heaviest snow is forecast for parts of Northwest Indiana for Tuesday evening and Tuesday night.
Consulte Mais informação »
James Harden joins 76ers on the bench for home opener, expected to practice TuesdayJames Harden is getting closer to making his season debut.
Consulte Mais informação »