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WeWork to withhold interest payment on some notes

Dated on: Tuesday 3rd October 2023

WeWork Inc. announced on Monday its decision to withhold approximately $95 million in interest payments related to some of its notes as part of its efforts to enhance its capital structure. WeWork, supported by SoftBank, has been facing challenges since its 2019 initial public offering plans fell apart due to concerns about substantial losses and doubts about its business model, which involves long-term leases and short-term rentals.

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