Female-focused co-working spot The Wing considering Chapter 11 bankruptcy

Female-focused co-working spot The Wing considering Chapter 11 bankruptcy

They’re on a Wing and a prayer.

Page Six has learned that famous female-focused members spot the Wing is in dire financial straits — and is even considering filing for Chapter 11 bankruptcy protection.

When we asked the club — which has 11 locations including in New York, San Francisco, Chicago and London — about rumors that it’s preparing to file for bankruptcy, the club told us, “The Wing is not filing for Chapter 11 bankruptcy at this time.”

“Despite the harsh realities of COVID, we are exploring every possible avenue we can to bring the Wing back stronger than it was before — as are many companies that rely on in-person gathering right now,” it added.

According to the New York Times, at one point around 2017, the company raised more than $100 million from venture capitalists to expand beyond its New York base. It charges around $215 per month for membership.

It’s the latest in a string of woes for the club after its co-founder, Audrey Gelman, resigned in June thanks to a staff strike over the company’s treatment of black and brown workers.

Amid the nationwide protests against the killing of George Floyd this summer, the club’s staff wrote in an open letter, “In solidarity with so many of our colleagues — past, present, and in particular, the black and brown people without whom the Wing would not exist — as a united group of employees, we are participating in a virtual walkout beginning today.”

Gelman quit shortly after, though she remains on the board and has a significant ownership stake.

With its p.r. woes and locations having been shuttered by the pandemic, the club seems to be trying to overhaul its image.
Its Web site now says, “A whole new Wing is coming your way,” and says that the club was “[established] in 2016” and “[re-established] in 2020.”

It also touts “digital membership.”


Source : Oli Coleman, Sara Nathan Link

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