WeWork, which has gone from hot startup to bailout candidate in a month, faces a tidal wave of rising real-estate costs that could top $10 billion
WeWork, which has gone from hot startup to bailout candidate in a month, will face a tidal wave of rising real-estate costs that could top $10 billion in the next four years, a result of the company’s growth-at-any-cost strategy.
In its rush toward an initial public offering and its goal to dominate the shared-office-space market, WeWork parent We Co. signed leases that would nearly double the company’s size. Those leases and the costs of building out the new offices are forcing WeWork to raise cash and cut costs after its...
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