the staff of the Ridgewood blog
Ridgewood NJ, WeWork could be the next victim of the post COVID remote work phenomenon. WeWork has told the SEC that its losses and negative cash flow may result in bankruptcy. The company is heavy on debt and struggling to generate cash despite the number of large commercial buildings around the world that have its name on them. WeWork will need to improve its liquidity position and profitability or consider alternatives. The company’s stock now has a market cap of below $500 million. It was once valued by SoftBank at $40 billion.
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This company is TOAST