WeWork Strikes 7-Day Forbearance Deal with Lenders

WeWork has entered into a seven-day forbearance agreement with its noteholders after skipping interest payments earlier this month. WeWork and its lenders struck the deal because lease negotiations and active discussions about the company’s capital structure are ongoing, according to a securities filing. The New York-based company said on Oct. 2 that it would withhold interest payments while it works on restructuring its business and “rationalizing its real-estate footprint.”