The company’s shares rose 7% after the disclosure.
WeWork warned investors last month that there was “substantial doubt” about its ability to stay in business. The company’s chance of staving off bankruptcy depends in large part on whether it can terminate or renegotiate a substantial number of its leases in more expensive markets.
The company’s business has struggled as many people have continued to work from home after the pandemic, cutting into demand for office space. WeWork has said it’s focusing over the next year on cutting rental costs, negotiating more favorable leases, boosting revenue and raising money.
