SmileDirectClub Gets Final OK For First $20M Of DIP Loan

By Rick Archer · November 7, 2023, 7:22 PM EST

SmileDirectClub got final approval from a Texas bankruptcy judge Tuesday to tap into $20 million in debtor-in-possession financing, but said it would wait a month to see if it needs to...

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Bankruptcy Scorecard

Summary

SmileDirect, a mail-order dental service provider, filed for bankruptcy in September 2023 after more than a year of financial struggles. The case was later converted to Chapter 7 after SmileDirect failed to find a going concern buyer and meet a DIP milestone.

Case Number

4:23-bk-90786

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

Total Liabilities:

$953 million

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Related Sections

Case Information

Case Title

SmileDirectClub, Inc.

Case Number

4:23-bk-90786

Court

Texas Southern

Nature of Suit

Date Filed

September 29, 2023

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