A deal to keep SmileDirectClub (SDC) afloat has fallen apart and the company “will now almost certainly liquidate,” Bloomberg quotes a lawyer for the company as having said. The company, which filed for bankruptcy in late September, had been negotiating a deal for its founders to provide fresh capital and buy SmileDirectClub out of Chapter 11, but SmileDirectClub failed to get its most important lender and other creditors on board, attorney Spencer Winters said in bankruptcy court Friday, according to Bloomberg. SmileDirectClub competes in the tooth straightening space with Align Technology (ALGN), its former strategic partner.
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