Global Workspace Provider Knotel Seeks Bankruptcy in U.S.

At the beginning of 2020, Knotel had over 4.0 million square feet of leased workspace, over 300 customers contracted for workspace, and expanded operations in various major business centers in 20 global markets. But with people working at home due to stay home orders and other restrictions during the pandemic, Knotel has ended in Chapter 11 bankruptcy. The company has signed a deal to sell the business to Newmark Group via a $70 million credit bid. Morris, Nichols, Arsht & Tunnell LLP and Moelis & Company are advising the company. Subscribe to the Troubled Company Reporter for more information.