The company has been in turmoil ever since its plans to go public in 2019 imploded following investors skepticism over its business model of taking long-term leases and renting them for the short term and on worries over its hefty losses.
WeWork India currently has about 6.5 million sq ft of assets signed across 50 locations in seven cities-New Delhi, Gurgaon, Noida, Mumbai, Bengaluru, Pune, and Hyderabad.
WeWork has chosen not to make two interest payments totaling $95 million, in an effort to kick-start negotiations with its lenders and reduce costs with landlords. Although this move may prompt speculation of a potential bankruptcy filing, WeWork claims to have enough cash on hand.