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WeWork’s Mounting Lease Debt Looms Over IPO Plans
CRETech
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1 minute read
As WeWork Cos. prepares for an initial public offering, it has accumulated a mounting pile of debt and financial obligations that could concern potential investors.
The co-working firm had about $34 billion in lease obligations at the end of 2018, up from $18.2 billion a year earlier, according to people familiar with the company’s financials.
The New York company, which recently rebranded as The We Company and was valued at $47 billion, confidentially filed for an IPO at the end of last year.
