Knotel tea filed the Chapter 11 bankruptcy filing in Delaware court after the Delaware Court WeWork’s rival was pressured by the coronavirus.
The company, which manages and rents in the short term office space, has had to do so fighting over the last year with companies and governments forcing workers to stay home.
It listed both estimated liabilities and assets of between $ 1 billion and $ 10 billion. The company has secured debt financing in the possession of a Newmark subsidiary worth about $ 20 million in cash.
In March last year, New York-based Knotel said it was cutting or surrounding half of its staff, or about 200 workers, in response to the coronavirus.
Covid-19 questioned the business model of Knotel and other flexible office companies and partner companies that depend on people working close to others.