Co-Living Pioneer Common Files for Bankruptcy, Will Liquidate

Common, once the largest co-living company in North America, filed for bankruptcy and will liquidate after it was squeezed by overhead costs and rising interest rates.

The company sought Chapter 7 protection — where a company’s assets are sold off to repay creditors — in Delaware on Friday, according to court papers. Common listed assets of up to $10 million against liabilities of as much as $50 million in its petition.

The New York-founded startup, backed by over $100 million of venture capital investment, has about 130 employees, Luca Bovone, chief executive officer of parent company Habyt, said in ...