DISTRESSED DAILY: Co-Working Company Hit by True Religion Filing

A startup co-working firm was already struggling amid Covid-19 related disruptions, but the bankruptcy of a company it was renting from at one California location helped push it into Chapter 11.

CTRL, a so-called “hacker space” headquartered in Pasadena, California, filed for bankruptcy last week. The company operated co-working locations in cities including Los Angeles, Denver, and Playa Vista, California. It was forced to close its Manhattan Beach, California location just months after it opened when True Religion, the apparel company it was subletting from, sought Chapter 11 protection and rejected the master lease on the building, according to ...