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WeWork says it will skip $95 million in interest payments, tanking shares

WeWork’s stock plunged more than 20% on Tuesday morning after the company said a day earlier that it would not make two sets of interest payments totaling more than $95 million. ....

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WeWork Skipping $95M in Interest Payments as It Hopes to Negotiate With Lenders

WeWork has opted to skip $95.2 million in interest payments as it hopes to negotiate with its lenders to improve its capital structure, the company announced. Missing the payment brings WeWork into a 30-day grace period with its lenders to make the payments, which were due Monday. WeWork CEO David Tolley said in a statement that the company has “sufficient liquidity” to make the $95.2 million payments “and may in the future decide to do so.” ....

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