Posted 9/29/2023, 10:19:40 PM

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

SmileDirectClub files for Chapter 11 bankruptcy protection, plans restructuring to address losses and debt
Company hampered by years of losses, weak aligner sales, and $850M in debt; founders investing $20M+ in restructuring
Seeking to maintain normal operations during "brief" restructuring process
Founded in 2014, IPO'd in 2019 but stock has plunged 97% amid challenges
Restructuring plan eyes over $100M in cost savings to address financial struggles

yahoo.com

Relevant topic timeline:

10/2/2023

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

Dental aligner company SmileDirectClub Inc. will search for a buyer for two months and liquidate if unsuccessful, following its Chapter 11 bankruptcy filing.