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1

0:00/1:34

WeWork didn’t mince words in its earnings report this week, flatly stating what anyone paying attention to its business and the office market could surmise: There is “substantial doubt” that the company can continue operating.

번역 보기
mince words
말을 완곡하게 하다
flatly
명료하게
surmise
추측하다
substantial
상당한, 많은

That’s obviously bad news for WeWork shareholders and employees, but Chapter 11 or Chapter 7 bankruptcy would also suck WeWork’s landlords, lenders and even the office market as a whole into the wreckage.

번역 보기
Chapter 11
미국 파산법의 챕터 11은 파산법원의 감독하에 구조조정 절차를 진행해 회생을 모색하는 제도
Chapter 7
챕터 7은 채무자가 가진 자산을 처분해서 채권자에게 채무 비율에 따라서 나눠주고 채무자의 채무를 법적으로 청산해 주는 제도 (흔히 생각하는 파산이 chapter 7)
landlord
집주인, 임대인
wreckage
난파, 파괴

2

0:00/1:34

Chapter 11 would give WeWork the right to terminate its leases, leaving a lot of office owners with swaths of empty space and a lot of WeWork’s tenants without desks.

번역 보기
terminate
끝내다
swath
넓은 길
tenant
세입자

Because WeWork primarily leases older buildings, its demise could accelerate the pandemic-induced plunge in value and revenue for Class B and C offices. WeWork’s lenders wouldn’t fare any better, as it would be unclear how much money — if any — they could recoup.

번역 보기
demise
폐쇄
pandemic-induced
팬데믹이 유발한
plunge
하강
recoup
되찾다

3

0:00/1:34

But questions about WeWork’s long-term viability circulated for years, even before the pandemic.

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vialbility
생존력

“Our primary concern with WeWork is that while it has been successfully pioneering the shared office concept, the company has yet to post a profit or experience a downturn,” read a Morningstar report from August of 2019.

번역 보기
post a profit
이익을 창출하다
downturn
침체기

4

0:00/1:34

Once valued by its private investors at $47 billion, WeWork, now a public company, was worth just $274 million when the market closed Wednesday. Its stock price, which was $13 at its IPO, is just 13 cents.

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At one time, WeWork was the largest leaseholder in New York City, so the number of landlords the company’s collapse would affect is vast. Crain’s reported that WeWork occupies about 6.4 million square feet across 70 Manhattan offices, with Boston Properties, Rudin Management, RXR Realty and Tishman Speyer among the landlords leasing the most space to the flailing firm.

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leaseholder
임대인
collapse
붕괴
flailing
부실한, 연약한

5

0:00/1:34

Should WeWork file for Chapter 11 bankruptcy, which offers companies the chance to reorganize and continue, it could postpone payments on old debt and back rent. However, the company would be on the hook for any bills that come due after that. So if WeWork filed today, it would still have to pay September rent.

번역 보기
file
제출하다
postpone
연기하다
be on the hook
책임을 지다, 곤란한 상황에 처하다

Landlords would have the option to force WeWork into liquidation, just as if WeWork filed for Chapter 7. But it’s uncertain how much cash that would actually leave for creditors, given that WeWork’s assets are leases that wouldn’t fetch as much money as they would have before the pandemic.

번역 보기
liquidation
변제
fetch
가져오다