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WeWork says there’s ‘substantial doubt’ it can stay in business. It currently has 11 D.C.-area locations.

August 10, 2023

Coworking space provider WeWork Inc. (NASDAQ: WE), once one of the world’s most valuable startups, warned Tuesday that it may not remain in business much longer. “Substantial doubt exists about the company’s ability to continue as a going concern,” the company said in a Securities and Exchange Commission filing. The New York company said it is facing losses and is low on cash as it contends with higher customer churn and lower demand than it anticipated, interim CEO David Tolley said in a statement.

Article Source: Washington Business Journal

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