some good opportunity for SRV coming up to snapped some bargains and more clients?
WeWork troubles put $900m in rent at risk for Australian landlords GPT, Dexus and Lendlease (copyright link)
The New York-listed company this month told its investors there was “substantial doubt” over its ability to continue as a going concern as it bleeds cash and memberships are cancelled. It hopes to staunch losses by reducing its rental obligations while improving revenue with less member churn. WeWork has brought in restructuring advisers in an effort to stay afloat.
WeWork’s latest Australian accounts, lodged earlier this year, show its future lease payments total $930.4 million over the next five or more years. In the accounts those obligations are also tallied separately as current and non-current liabilities, totalling around $615 million on their present value.
WeWork’s Australian operations posted a $211.2 million loss in the last calendar year, following a $120.3 million loss the previous year. Its ability to meet its obligations in Australia relies on assurances of support from its US parent, whose solvency is now in question.
some good opportunity for SRV coming up to snapped some bargains...
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Last
$5.59 |
Change
-0.010(0.18%) |
Mkt cap ! $552.9M | |||
| Open | High | Low | Value | Volume |
| $5.60 | $5.62 | $5.54 | $111.0K | 19.90K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2179 | $5.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.61 | 134 | 3 |
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| Last trade - 13.36pm 16/06/2025 (20 minute delay) ? |
| SRV (ASX) Chart |