Dr. Gleb Tsipursky – The Office Whisperer
Cat Johnson – Coworking Marketing Maven
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Andrea Pirrotti-Dranchak – Competitive Advantage
Jonathan Price – CRE & Flex Expert
Jeremy Fennema – Tech Innovation Alchemist
New York-based flexible office operator Knotel has reportedly lost $49 million since March, following its millions of dollars in losses prior to the pandemic.
Knotel was just crowned a unicorn last year. As of March 2020, the company had $36 million in the bank, down $51 million it had at the end of 2019. A spokeswoman for the company has disputed the reported numbers, but did not specify.
Documents showed that Knotel had $238 million in liabilities at the end of the first quarter and owed vendors $84 million.
CEO Amol Sarva claimed that the company anticipated to be profitable by the end of this year.
Back in March, Knotel laid off 30% of its employees and furloughed another 20%. Additionally, 10 people part of its management team cut their salaries to alleviate costs. The company also told some of its landlords it would not pay April’s rent.
Now, the firm has plans to hand back 20% of its 5 million square foot portfolio, which largely covers Manhattan.
