WeWork halts all new lease agreements with property owners: FT By Reuters

No-Recession Predictions Begin to Look More Plausible, but Risks Remain Too High

WeWork halts all new lease agreements with property owners: FT

Published Sep 26, 2019 08:54PM ET

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WeWork halts all new lease agreements with property owners: FT

(Reuters) - WeWork is halting all new lease agreements with property owners as the U.S. office-sharing startup looks to curtail costs, the Financial Times reported on Thursday citing people briefed on the matter.

Parent firm We Company postponed its initial public offering last week after investor scrutiny over widening losses and corporate governance, as well as a business model that relies on long-term liabilities and short-term revenue.

WeWork did not respond to a Reuters request for comment on the report.

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