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Four years ago WeWork was preparing for a blockbuster IPO. Now the company is warning of possible bankruptcy.
“Our losses and negative cash flows from operating activities raise substantial doubt about our ability to continue as a going concern,” WeWork said in a filing with the SEC on Tuesday.
The spectacular collapse of a company once valued by SoftBank at $40 billion has been years in the making, but is still surprising given the number of large commercial buildings around the world that don the company’s name.
Details on what factors have left WeWork heavy on debt and struggling to generate cash at the link in bio.