SmileDirectClub will wind down its business after its efforts to recapitalize in bankruptcy failed.
The Nashville, Tenn.-based online teeth-straightening company said Friday efforts to identify investors or partners needed to recapitalize the business had failed.
“We were unable to find a partner willing to infuse the necessary capital for the path ahead given the ongoing difficult macroeconomic climate and the decline in discretionary consumer spend,” a company spokesperson said.
The company filed for bankruptcy in early October.
Source: https://www.axios.com/2023/12/08/smiledirectclub-liquidating-sdc-bankruptcy-chapter-11