US bankruptcy will not hit WeWork business in India
WeWork India's CEO, Karan Virwani, stated that the US-based co-working startup's bankruptcy filing will not affect WeWork India's business, as it operates independently. WeWork India is backed by the Embassy Group and has been profitable since 2021. WeWork's bankruptcy proceedings in the US and Canada do not involve its locations outside of these countries, and its franchisees worldwide will not be affected. WeWork had filed for Chapter 11 bankruptcy and revealed nearly $19 billion in debt. WeWork India currently operates in seven cities with 50 locations.
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