Overview

• SmileDirectClub, the telehealth orthodontics company, has announced the immediate shutdown of its global operations, less than three months after filing for Chapter 11 bankruptcy.
• Existing customers, some of whom may be in the middle of their teeth-straightening treatment, are advised to consult local dentist offices for continued care.
• Customers who financed their SmileDirectClub plans are expected to continue making monthly payments, and refund eligibility will be determined in the next steps of the bankruptcy process.
• The company, which had major retailers like Walmart and CVS carrying its products, was once valued at $8.9 billion after its 2019 IPO but never turned a profit.
• SmileDirectClub faced criticism from medical groups and legal issues, including a lawsuit from the District of Columbia attorney general’s office accusing the company of stifling consumer criticism.