Shares in US office rental company WeWork fell by 30 percent at times

2023-08-09 12:03:07

Wework-Büros in New York

Even after the end of the pandemic, it was not possible to fill the office space sufficiently.

(Photo: AP)

New York The US office rental company WeWork is preparing its shareholders for a possible bankruptcy in the face of ongoing losses, sending its shares plummeting. “Fewer and fewer companies – from large corporations to start-ups – are willing to commit to long-term leases for fixed locations,” said interim chief David Tolley on Wednesday.

WeWork needs fresh money or has to use the rules of bankruptcy law, said the company, which was valued at $47 billion four years ago. It’s now worth less than a hundredth of that. On Wednesday, the stock temporarily fell by 37 percent to around 13 US cents during trading.

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