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The Giant WeWork Injects €16 Million into its Spanish Subsidiary to Avoid its Dissolution

WeWork Community Space, the Spanish subsidiary of the American firm, recorded losses of 10.1 million euros in 2019, and so the parent company was forced to inject 16.5 million euros to avoid its dissolution.

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The Spanish subsidiary of the American coworking space firm WeWork closed the 2019 financial year with losses amounting to 10.1 million euros, 39% higher than a year earlier, according to the company’s accounts for that year.

WeWork Community Workspace has explained in its accounts that it incurred losses that led to a reduction in its equity and the existence of negative working capital, factors that cast doubt over its ability to continue as a going concern, according to Cinco Días.

Read the full article in Spanish.

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