The risk of their default is supposed to be built into the price. On the other hand they suffer short term reputational damage which could prevent them from getting future loans, but they are in survival mode so that doesn't really matter right now.
I guess it is unpopular to say but I like WeWork and I'm rooting for them. We were very very early users before even their NYC Flagship at 175 Varick. Those early days were really memorable. They provided something no one else did. I think the model makes sense over the long term with some austerity, so I'm rooting for them.
I guess it is unpopular to say but I like WeWork and I'm rooting for them. We were very very early users before even their NYC Flagship at 175 Varick. Those early days were really memorable. They provided something no one else did. I think the model makes sense over the long term with some austerity, so I'm rooting for them.