Short-term rental company winding down operations “immediately” amid ongoing liquidity issues.
Canadian-founded and San Francisco-based alternative lodging company Sonder Holdings is winding down its operations following the termination of its licensing deal with hotel giant Marriott International.
The company announced this week that it will wind down operations “immediately” and that it expects to initiate a Chapter 7 liquidation of its United States business while starting insolvency proceedings in its international markets. The announcement came one day after Marriott said that its licensing agreement with Sonder was “no longer in effect due to Sonder’s default.”
The insolvency…