Topline
Teledentistry firm SmileDirectClub is going out of business, according to multiple reports, citing a bankruptcy filing, marking the end of a nine-year run for the startup that never made a profit as a publicly traded business.
Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images
Key Facts
SmileDirectClub, which offered teeth aligners to customers through the mail, commenced a “wind-down of the business” Friday, according to Axios, which cited a court hearing statement from attorney Spencer Winters.
SmileDirectClub’s decision to shut down was done after a “Hail Mary” attempt at selling the company failed, Axios reported, again citing Winters.
The company filed for Chapter 11 bankruptcy protection a few months ago, when it had nearly $900 million in debt, according to Bloomberg.
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