WeWork burnt through $1.4bn in the final three months of 2019 – almost all the cash injected by its principal backer SoftBank.
It now has just $4.4bn, against $6.9bn in cash and commitments held at the end of September.
WeWork’s workers fear being collateral damage in a $3bn fight between co-founder Adam Neumann and SoftBank.
The indebted technology group rescued the cash-strapped serviced office company last October, with an agreement to pay $3bn for shares largely held by Neumann and Benchmark Capital.
Last week SoftBank warned that conditions attached to the tender had not been met.
But many of those at risk of losing out are WeWork’s employees, many of whom got into debt to buy shares prior to the firm’s failed IPO.
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