4 ms·

I'm surprised a bankruptcy didn't happen earlier if it allows them to renegotiate leases. Another company I've long thought had way too much debt to assets took

I'm surprised a bankruptcy didn't happen earlier if it allows them to renegotiate leases. Another company I've long thought had way too much debt to assets took a big hit today as well. With current rates or higher interest rates, how many companies are going to be underwater in the near term?

bombcar 3y ago
Bankruptcy usually wipes out the shareholders and gives the company to the bondholders, but nowadays that's often the same group of people - not sure it happened in this case but Softbank could have bought majority of shares in WeWork, and then lent them money, so when they go bankrupt they still own the company.