WeWork is bankrupt?
Finshots Daily
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The End of WeWork
WeWork's business model was to take buildings on a long term lease and rent them out in short-term contracts. This meant it racked up massive amounts of debt, but VC investors didn't really seem to care because they were enamored by the possibilities. When WeWork decided to launch an IPO, public market investors scoffed at the loss making company. By the end of 2022, they owed 15 billion dollars in lease payments and had over 3 billion dollars in loans. And well, WeWork is finally looking at bankruptcy now.
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