Company’s existing bonds plunged to record low on Tuesday
JPMorgan bankers have cast wide net in bid to find investors
Bankers who two months ago were fighting for a piece of WeWork’s highly anticipated share sale are now scrambling to just keep the company alive.
WeWork and its backers are furiously trying to line up two rescue plans before it runs out of cash as early as next month: one by SoftBank Group, the company’s largest shareholder, and another by JPMorgan Chase & Co., which won WeWork’s IPO mandatebut ultimately didn’t pocket a fee as the plan collapsed and cut off WeWork’s access to new cash.
