US bankruptcy will not hit WeWork business in India
India Business News: 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 oper
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India Business News: 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 oper
The company's shares plunged 37% after the company revealed plans to file for bankruptcy as early as next week.
Even at a time when WeWork struggles to keep operations afloat, WeWork India said it clocked revenues of Rs 1,400 crore in FY23, had an EBITDA of Rs 250 crore and a profit after tax of roughly Rs 60 crore.
WeWork India is unaffected by the global company's bankruptcy filing. Learn more about what this means......
Virwani had described WeWork Global as a great partner who helped India business during the tough COVID period by making investments.