Quote from Ndubuisi Ekekwe on February 3, 2021, 4:54 PM

The business model of shared-working space is under pandemic long-term attack. Knotel, a competitor to WeWork, has gone bankrupt. The WFH culture is affecting these companies.

Can co-working spaces survive the pandemic? New-York based coworking provider Knotel — which had become a fierce competitor to WeWork — filed for Chapter 11 bankruptcy protection in the U.S. earlier this week, opting to be taken over by Newmark Group. That comes as a steep drop in office demand is hurting a number of short-term rental businesses, which typically allow customers to get out of their contracts. Several entities tied to IWG's office-suites locations are shutting, and WeWork continues to lose money as it remains in talks to go public.