WeWork India to remain unaffected by global bankruptcy

WeWork India has reassured that its operations will not be affected by the bankruptcy proceedings filed by WeWork Global in a US court. WeWork India, which is predominantly owned by the Bengaluru-based real estate firm Embassy Group (73% stake), stated that it operates independently of WeWork Global (27% shareholding) and is a separate entity, so its day-to-day functioning remains unaffected.

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WeWork India’s CEO, Karan Virwani, emphasized the independence of the Indian business and its exclusion from the strategic reorganization process of WeWork Global. He clarified that WeWork India’s operations would continue to serve members, landlords, and partners as usual.

The bankruptcy filing and restructuring process primarily pertain to WeWork Global’s debts and leases in the US and Canada. It is aimed at reducing debt and strengthening the global entity’s financial position.

Despite the developments at the global level, WeWork India, with more than 50 centers across the country, remains profitable and unaffected by the proceedings. Virwani highlighted WeWork India’s commitment to providing flexible workspace solutions and its leadership in the industry. He mentioned that WeWork India has been profitable since 2021.