Wall Street funds explore potential bankruptcy plan for WeWork - WSJ

county King city Street UPS Provident Reuters BlackRock WSJ

24.08.2023 - 19:15

Reading now: 592

investing.com:

(Reuters) — A group of wall street funds which lent cash to WeWork is exploring the possibility of a bankruptcy filing, the Wall Street Journal reported on Thursday citing people familiar with the creditors' talks.

The group, which includes BlackRock (NYSE:BLK), King Street Capital and Brigade Capital, are holding preliminary talks about the company's restructuring options, the report said, and indicated they would support a plan for chapter 11 bankruptcy.

Shares of WeWork were up about 12% at 13 cents in afternoon trade.

BlackRock, King Street, Brigade and WeWork did not immediately respond to Reuters' requests for comments.

Bloomberg News had reported on Wednesday the flexible workspace provider was tapping advisers for restructuring advice.

Read more on investing.com

All news from investing.com

About this in other media

POW Coin Shoots Up 3,000% and Viral Meme Coin Wall Street Memes Secures $25 Million in Funding – Next PEPE or Shiba Inu? cryptonews.com /1 year ago

New Meme Coin Pepe of Wall Street Starts Trending – Is Wall Street Memes Next to Explode? cryptonews.com /1 year ago

Bitcoin Price Crashes as SEC Delays ETFs But New Meme Coin Shiba V Pepe (SHEPE) Pumps – Is Wall Street Memes Next? cryptonews.com /1 year ago

The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.