Knotel
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Knotel is a flexible workspace company founded in 2015 in the United States. The company provides managed office space and workplace services to corporate clients on flexible lease terms across multiple international locations. It operates within the flexible workspace sector alongside coworking and serviced office providers.
In 2021, Knotel filed for Chapter 11 bankruptcy protection and was subsequently restructured following its acquisition by an affiliate of Newmark Group.
History
Knotel was founded in 2015 by Amol Sarva and co-founders as a provider of customised office environments intended as an alternative to traditional long-term commercial leases.[1]
The company expanded rapidly during the late 2010s, increasing its portfolio across major cities in North America and Europe. At its peak, Knotel operated millions of square feet of office space and served corporate occupiers across multiple industries.[2]
Knotel's growth formed part of a broader expansion in the flexible workspace sector, as businesses increasingly adopted shorter lease commitments and more adaptable workplace strategies.[3]
Business model
Knotel operates a managed workspace model in which it leases office buildings or floors and converts them into serviced workspaces tailored to client requirements.
Unlike traditional coworking providers, which typically focus on shared environments, Knotel's model centres on private office space for enterprise clients. The company provides design, fit-out, and operational services, with clients generally entering into shorter-term agreements than those associated with conventional commercial leases.[4]
Bankruptcy and restructuring
In January 2021, Knotel filed for Chapter 11 bankruptcy protection in the United States following financial pressures linked to the COVID-19 pandemic and declining demand for office space.[5]
As part of the restructuring process, Knotel's assets were acquired by an affiliate of Newmark Group, enabling the business to continue operating under new ownership.[6]
Locations
Knotel has operated workspace locations across multiple cities including New York and London. Some locations have been based within repurposed historic buildings, including workspace operated at Old Sessions House in London.[7]
Industry context
Knotel operates within the flexible workspace sector, which experienced substantial growth during the 2010s as businesses adopted more flexible real estate strategies. The sector was significantly affected during the COVID-19 pandemic, leading to restructuring and consolidation among several operators.[8]
See also
- Coworking
- Flexible workspace
- Amol Sarva
- Newmark Group
References
- ↑ "Knotel Wants to Be the Airbnb of Offices". Bloomberg. 1 August 2018.
- ↑ "Knotel files for bankruptcy as pandemic strains office rentals". Bloomberg Law. 31 January 2021.
- ↑ "Knotel takes on WeWork with flexible office expansion". Financial Times. 22 October 2019.
- ↑ "Knotel Wants to Reinvent the Office Lease". The Wall Street Journal. 17 February 2019.
- ↑ "Shared workspace company Knotel's bankruptcy plan approved". Bloomberg Law. 2021.
- ↑ "How will Knotel bankruptcy impact flexible office sector?". Property Week. 2021.
- ↑ "Want more than just co-working? Say hello to Old Sessions House". London On The Inside. 13 September 2018.
- ↑ "How will Knotel bankruptcy impact flexible office sector?". Property Week. 2021.
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