WeWork's bonds due 2025 fell to a new low of 71 cents Monday, Bloomberg reported.
The same day, WeWork Chairman Marcelo Claure said that layoffs will begin this week. Roughly 4,000 employees could be out of a job.
Addition - US - Securities - Exchange - Commission
In addition, the U.S. Securities and Exchange Commission is reviewing the company for potential violations.
And, WeWork lost $1.3 billion in the third quarter, more than double its losses in the same quarter in 2018.
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WeWork's bonds have fallen to yet another fresh low as investors grow increasingly worried that the company won't be able to repay its debt.
Company - Notes - Cents - Monday - Cents
The company's $669 million in notes due in 2025 fell to 71 cents each on Monday, sliding more than three cents to the new low, Bloomberg reported, citing Trace data. The yield on the bonds is now more than 16%....
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