The company’s filing for Chapter 11 bankruptcy protection marks a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world, the North Bay Business Journal reported. The company entered into “a restructuring support agreement with the majority of its stakeholders to ‘drastically reduce’ the company’s debt while further evaluating WeWork’s commercial office lease portfolio.
The company received court approval for exiting lease, sublease and license agreements at 69 locations, according to a court filing.
The Mill Valley site isn’t on the list, but four others in the Bay Area are, including four in San Francisco and one in Oakland, are, according to the North Bay Business Journal.
The company’s 35,000-square-foot location in Marin at the 1 Belvedere Place office building in Mill Valley on the Strawberry side of Hwy. 101.
In its early years in the space at 1 Belvedere, We Work Mill Valley was a gleaming nod to some of the icons of the Bay Area, with WeWork chief creative officer Adam Kimmel telling Architectural Digest at the time that the space would feature a highly localized design that responds more directly to its surroundings than previous WeWorks have.
“It’s been amazing what we were able to do there, creating a Big Sur or Sea Ranch vibe,” Kimmel told the magazine at that time. “We gave it a nuanced treatment of materiality, wood panel walls, wood joists in the ceiling. Giving [the interiors] those touches gives it a local vibe.”
The office space includes plenty of design-forward finishes, with a dining area offering seating for 10 in Thonet’s Vienna chairs, set on a rug from Turkey. The community bar has a terrazzo countertop from Concrete Collaborative and white oak bookshelves holding a number of books and records from local favorite Amoeba Records.