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WeWork Inc on Monday said it had decided to withhold interest payments of about $95 million related to some of its notes, as it tries to improve its capital structure. The company. ....
The company has a 30-day grace period to make the interest payments before a non-payment can be considered an "event of default", WeWork said in a regulatory filing. The company has the liquidity to make the interest payments and may decide to pay "in the future", it added. The company withheld interest payments of about $37.3 million payable in cash and $57.9 million of payment-in-kind (PIK) notes, each payable on Monday. ....
Over the past week, several major corporate news headlines revolved around mega companies facing liquidity crisis due to prolonged negative cashflow. ....
WeWork Inc on Tuesday raised substantial doubt about its ability to continue as a going concern, sending its shares down 19% in extended trading. (Reporting by Ananta Agarwal in Bengaluru; Editing by. ....