SmileDirectClub shuts down months after filing for Chapter 11 bankruptcy protection
SmileDirectClub is shutting down — just months after the struggling teeth-straightening company filed for bankruptcy protection
NEW YORK — SmileDirectClub is shutting down — just months after the struggling teeth-straightening company filed for bankruptcy protection.
In a Friday announcement, SmileDirectClub said it had made an “incredibly difficult decision to wind down its global operations, effective immediately.”
That leaves existing customers in limbo. SmileDirectClub's aligner treatment through its telehealth platform is no longer available, the Nashville, Tennessee, company said, while urging consumers to consult their local dentist for further treatment. Customer-care support has also ceased.
Customer orders that haven't shipped yet have been canceled and “Lifetime Smile Guarantee” no longer exists, the company said. SmileDirectClub apologized for the inconvenience and said additional information about refund requests will arrive “once the bankruptcy process determines next steps and additional measures customers can take.”
SmileDirectClub also said that Smile Pay customers are expected to continue to make payments, leading to further confusion and frustration online. A company spokesperson on Monday said the company couldn't comment further.
SmileDirectClub filed for Chapter 11 bankruptcy protection at the end of September. At the time, the company reported nearly $900 million in debt. On Friday, the company said it was unable to find a partner willing to bring in enough capital to keep the company afloat, despite a monthslong search.
When SmileDirectClub went public in 2019, the company was valued at about $8.9 billion. But its stock plummeted in value over time, as the company proved to be unprofitable year
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