Posted 10/2/2023, 2:52:14 PM

SmileDirectClub Faces Liquidation in 2 Months If No Buyer Found, 4 Years After $1.35B IPO

SmileDirectClub faces liquidation if it can't find a buyer within 2 months according to court papers
The company filed for Chapter 11 bankruptcy just 4 years after a $1.35 billion IPO
It hasn't turned a profit since going public and recently lost a legal battle with a rival
Founders are lending at least $20 million to fund search for a rescuer
SmileDirectClub sells low-cost teeth alignment treatments, with 70% of customers using its financing program

yahoo.com

Relevant topic timeline:

9/29/2023

SmileDirectClub Files for Bankruptcy, Plans Restructuring to Address Mounting Losses and Debt

SmileDirectClub, a tooth alignment company, has filed for Chapter 11 bankruptcy protection due to years of losses, weak sales, and significant debt, but plans to continue normal operations with an investment from its founders.