WeWork Warns of ‘Substantial Doubt’ About Its Ability to Stay in Business

WeWork Warns of ‘Substantial Doubt’ About Its Ability to Stay in Business
The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles on Aug. 8, 2023. Patrick T. Fallon/AFP via Getty Images
Frank Fang
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WeWork, the New York-based workspace-sharing company, is warning of “substantial doubt” that it can stay in business over the 12 months, according to its second-quarter earnings release on Aug. 8.

“As a result of the Company’s losses and projected cash needs, combined with increased member churn and current liquidity levels, substantial doubt exists about the Company’s ability to continue as a going concern,” the release says.

Frank Fang
Frank Fang
journalist
Frank Fang is a Taiwan-based journalist. He covers U.S., China, and Taiwan news. He holds a master's degree in materials science from Tsinghua University in Taiwan.
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