: WeWork stock continues its slide amid reports of bankruptcy talks


BlackRock Inc. BLK, King Street Capital, and Brigade Capital are participating in lender talks about a potential chapter 13 bankruptcy filing for struggling hourly office rental company WeWork Inc. WE, according to a report by The Wall Street Journal. WeWork was down 4% in premarket trades on Friday, as the stock extends its 97% drop in the past 12 months. The three Wall Street firms issued $1.2 billion in loans to WeWork in March, the WSJ report said. WeWork may potentially avoid bankruptcy if it manages to re-work terms for its high-cost office leases with landlords and reduce its rent costs, the report said, citing…

This article was originally published by Marketwatch.com. Read the original article here.

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