I am not able to create a folder in sheets

I am trying to create a folder in sheets so i can organise the sheets i have been made an admin on. Every time i try to create a folder, it comes up with this message. 'The workspace you are trying to modify is not currently available. It may have been deleted, or your permission may have been removed from it'. Why is this coming up? According to properties, i am an owner in permissions.

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