Sonder Holdings to swiftly cease all operations

Company Liquidation: Sonder Holdings is winding down operations and will initiate a Chapter 7 liquidation of its U.S. business, along with insolvency proceedings in other countries where it operates.

Challenges with Marriott: The company faced severe financial constraints due to difficulties in integrating its systems with Marriott International, which led to the termination of their licensing agreement.

Failed Strategic Alternatives: Despite exploring various financing and strategic options, including a potential sale, Sonder was unable to secure a viable transaction or additional liquidity.

CEO's Statement: Interim CEO Janice Sears expressed devastation over the decision to liquidate, attributing the company's financial struggles to unexpected integration costs and a decline in revenue from Marriott's Bonvoy system.