Sonder Holdings Inc. To Complete Immediate Wind-Down of Operations

Core Viewpoint - Sonder Holdings Inc. has announced the immediate winding down of its operations and plans to initiate Chapter 7 liquidation of its U.S. business due to severe financial constraints and unsuccessful efforts to secure additional liquidity [1][2][3] Financial Challenges - The company faced significant financial difficulties stemming from prolonged integration challenges with Marriott International, which ultimately led to the termination of their licensing agreement [2][3] - Efforts to explore financing and strategic alternatives, including a potential sale of the business, were unsuccessful, prompting the decision to liquidate [2][3] Operational Impact - The integration delays with Marriott resulted in unexpected costs and a sharp decline in revenue, contributing to a substantial loss in working capital [3] - The company has expressed gratitude to its employees and partners for their support over the years, highlighting the dedication to guest experience [3] Future Proceedings - Additional information regarding the court proceedings and the status of operations outside the U.S. will be provided by the Chapter 7 Trustee or the company's international subsidiaries in due course [3]