BridgeStreet Files for Bankruptcy and Sells European Business to National Corporate Housing
Photo Credit: Two people working in an apartment. Unsplash / Austin Distel
Skift Take
It's a bitter irony that the pandemic has driven a push to remote work and created an immense opportunity for traditional providers of serviced apartments precisely at the moment that they have stumbled in their execution.
National Corporate Housing said on Tuesday that it had acquired the European and Asian agency business of BridgeStreet, which once promised to bring digital innovation to corporate housing. It filed for bankruptcy on November 25 and is liquidating its remaining assets in the U.S. and Britain.
BridgeStreet, a 20-year-old company, was another victim of the coronavirus pandemic. In April, it exited its U.S.-based service apartments business, closing its brands and operated properties. This week, it notified customers in the UK and Europe that it would no longer honor its bookings and that it was closing its apartment hotel brands like Mode.
"This is an unfortunate conclusion for many of BridgeStreet’s stakeholders, particularly for much of BridgeStreet's talented workforc
