Private credit restructuring — It’s definitely happening


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Private credit restructuring — It’s definitely happening

Shubham Saharan's avatar
Rachel Butt's avatar
  1. Shubham Saharan
  2. +Rachel Butt
6 min read

After SmileDirectClub filed for Chapter 11 bankruptcy last September, it had about two months to find a buyer.

Its billionaire founders had already provided $20m to fund the search and made a Hail Mary attempt to buy the dental aligner company out of bankruptcy. SmileDirectClub struggled to turn a profit since it went public in 2019, and its sales were hit hard by the double whammy of the pandemic and inflationary pressures.

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