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WeWork has sufficient cash to meet challenges posed by virus: letter

Kitco News

NEW YORK (Reuters) - WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had on hand at year-end 2019 is sufficient to execute its five-year plan, including managing the challenges posed by the recession-bearing coronavirus crisis.

WeWork told bond investors in a letter reviewed by Reuters that it is in a sound finacial position to execute its plan through 2024.

The company has said it will release full-year 2019 results to bond holders after markets close at 4 p.m. on Thursday.

Reporting by Herbert Lash; Editing by Chizu Nomiyama

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