WeWork reassures buyers it has sufficient money to climate coronavirus
WeWork Government Chairman Marcelo Claure throughout an interview with Andrew Ross Sorkin at WeWork headquarters in New York Metropolis on February 10, 2020.
David A. Grogan | CNBC
WeWork is telling buyers it has sufficient money readily available to execute its long-term plans and climate the near-term challenges posed by COVID-19.
In a seven-slide deck for investors, WeWork stated it had $4.Four billion in money and money equivalents as of the tip of 2019. The corporate is predicted to launch full-year monetary outcomes after the market closes on Thursday.
In a letter obtained by CNBC, WeWork’s govt chairman, Marcelo Claure, and CEO, Sandeep Mathrani, say that the corporate “has a strategic plan and a sound monetary place.”
WeWork is the second SoftBank-backed firm to reassure buyers that its money place will get it via an more and more unsure and risky 12 months.
Final week, Uber instructed buyers that it had sufficient money and money equivalents on its stability sheet to climate the affect of COVID-19…