Knotel het filed in Delaware court for Chapter 11 bankruptcy after the WeWork competitor has been put under pressure by the coronavirus.
The company, which manages and leases in the short term office space, had to the past year has struggled with companies and governments instructing workers to stay home.
It contains both estimated liabilities and assets from $ 1 billion to $ 10 billion. The company received $ 20 million in cash from a Newmark subsidiary.
In March last year, Knotel, based in New York, said it was cutting or weathering half of its staff, or about 200 workers, in response to the coronavirus.
Covid-19 doubts the business model of Knotel and other flexible office space and collaborative businesses that rely on people who work close to others.