Major cosmetic company files for bankruptcy after 10 years in business – but there’s a silver lining ...Middle East

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Major cosmetic company files for bankruptcy after 10 years in business – but there’s a silver lining
A MAJOR cosmetic company has filed for bankruptcy after over a decade of business – but it’s not all bad news. Tooth alignment company SmileDirectClub are in financial hot water after years of losses finally caught up to the outfit. Instagram @smiledirectclubCosmetic giant SmileDirectClub have filed for bankruptcy[/caption] And now, the comestic brand have filed for voluntary protection under Chapter 11 of the US Bankruptcy Code on Friday, Yahoo Finance reported. SmileDirectClub buckled after chalking up a crippling $850 million in long-term debt and attracting weak sales for their signature clear aligners. Prior to filing, the company’s stock plummeted 97% to a paltry $0.42.

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