Small Coworking Outfits In Dire Straits As ‘Funny Money’-Backed Competitors Prepare For Comeback

The major players in the New York City coworking market have buckled under the stress of the coronavirus pandemic, giving back millions of square feet, needing cash infusions or restructuring.

But Knotel, IWG and WeWork all appear poised to exist in a post-Covid landscape where workplace flexibility is expected to be key. Smaller operators — the backbone of the coworking industry — have a far less certain future. Unlike the giants of the coworking world, these entrepreneurs do not have a cash cushion or an institutional real estate name to break their falls....
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RSK: A lot of downsizing and the small operator suffers the most.