Knotel has filed for Chapter 11 bankruptcy in the Delaware court after the The rival WeWork was pressured by the coronavirus.
The company, which manages and leases short term office space, had to last year he struggled with companies and governments demanding that workers stay at home.
He listed liabilities and assets estimated at $ 1 billion to $ 10 billion. The company obtained financing from the debtor in possession of a Newmark affiliate of about $ 20 million in cash.
In March last year, New York-based Knotel said it was cutting or laying off half of its staff, or about 200 workers, in response to the coronavirus.
Covid-19 raised doubts about the business model for Knotel and other flexible office companies and companies that depend on people who work close to others.