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Cash-strapped WeWork pulled more than $60 million from its UK unit and almost tripled the division’s debt last year

adam neumann

  • Cash-strapped WeWork pulled more than $60 million from its UK subsidiary and lumped it with close to $240 million in extra debt in 2018.
  • WeWork International Limited grew revenue by 90% last year, but payments to its parent company for intellectual property and other support services fueled a tenfold surge in pre-tax losses to £76 million.
  • The UK company’s wage and salary costs soared 150%, and its interest payments jumped sixfold due to the increased debt.
  • of Business Insider’s WeWork coverage here.

WeWork pulled more than $60 million out of its UK subsidiary and lumped it with close to $240 million in extra read more >>>

Source:: BusinessInsider.Com