WeWork is trying to renegotiate almost all its leases, weeks after raising doubt about its ability to stay in business.
The company, which provides shared office space, said its lease liabilities were “too high” and “out of step” with market conditions.
The price of its shares rose at first in New York yesterday before falling into the red. They were down 4.8 per cent, or 17 cents, at $3.41 during the afternoon session, and have fallen more than 90 per cent this year.
WeWork said last month its future depended on a plan that included cutting costs. David Tolley, chief executive, said: “WeWork is here to stay.”
It was once the world’s most fêted start-up, with a peak value of $47 billion. WeWork had to