Co working space firm WeWork Global filing for Chapter 11 bankruptcy in US would not impact the operations of WeWork India, the Indian arm said today
“WeWork India operates independently of WeWork Global, and our operations will not be affected in any manner. It is a separate entity in itself, and we are not a part of this strategic reorganisation process,” said Karan Virwani- CEO at WeWork India.
WeWork India is backed by majority stake holder Embassy Group, and is committed to investing in the future of our business , Virwani said
” We remain fully focused on delivering exceptional and innovative flexible workspace solutions for our members in the region. We are the leaders in the flexible workspace industry and have transformed the way India works. WeWork India has been profitable since 2021, and we are committed to the robust growth and success of the business and the industry.” he said.
. The Chapter 11 filing does not impact the operations of the global entity as it continues to remain in possession of its business, operating as usual. The process restructures the debts and the leases of WeWork Global in the US and Canada, he said .
“During this period, we will continue to hold the rights to use the brand name as part of the operating agreement, while serving our members, landlords, and partners as usual.”, he said