Knotel Inc. has struck a deal with unsecured creditors that will give potential bidders more time to submit offers to acquire the office-space startup’s assets out of bankruptcy, WSJ Pro Bankruptcy reported. Knotel agreed to push back to March 12 the deadline for submitting asset bids, lawyers for the company and a committee representing unsecured creditors said yesterday during a hearing in the U.S. Bankruptcy Court in Wilmington, Del. The committee includes food-delivery startup DoorDash Inc., technology company Neustar Inc. and landlords. The agreement resolved challenges the committee raised over the tight sales timeline Knotel is pursuing. Knotel originally floated a Feb. 28 bid deadline, which would be about a month after the company filed for bankruptcy. A subsidiary of real-estate services firm Newmark Group Inc. has made an offer to acquire Knotel’s assets in exchange for forgiving up to $70 million in company debt. The bid from the Newmark Group subsidiary, Digiatech LLC, will set the floor for any additional offers Knotel receives in the next few weeks.
