WeWork is reportedly in early stage talks with JPMorgan, Goldman Sachs and other banks in an effort to secure funds to head off a looming cash crunch. The San Francisco-based startup had $2.5 billion in cash as of June 30, and is presently losing $700 million a quarter, Bernstein said. A possible injection of as much as $2bn could be via a debt or equity deal or a combination of both, the New York Post reported. The company has been struggling for months after it was forced into bankruptcy protection last year following its acquisition by private equity firm Silver Lake Partners.
WeWork is reportedly in early stage talks with JPMorgan, Goldman Sachs and other banks in an effort to secure funds to head off a looming cash crunch. A possible injection of as much as $2bn could be via a debt or equity deal or a combination of both, the New York Post reported. The company has been struggling for months after it was forced into bankruptcy protection last year following its acquisition by private equity firm Silver Lake Partners.