Peace-Cut Fully! Surprising Bankruptcy Announced by Cutting-Edge Company

Peace-Cut Fully! Surprising Bankruptcy Announced by Cutting-Edge Company

The creative firm suddenly declares bankruptcy after exhausting all possible strategic options, leading to a default on its obligations.

In anticipation of an auction for its assets, Shapeways has ceased operations and closed all of its subsidiaries.

Since its founding in 2007, Shapeways has produced over 21 million pieces utilizing 11 distinct technologies and 90 different materials and finishes. The company has served over one million clients.

“After carefully evaluating all possible strategic options, Shapeways Holdings Inc. voluntarily ceased operations and filed a petition for relief… under the provisions of Chapter 7 of Title 11 of the United States Code,” stated a court filing.

Peace-Cut Fully! Surprising Bankruptcy Announced by Cutting-Edge Company

A default on the company’s $669,500 secured promissory note dated June 10, 2024, entered into with 3DP Custom Manufacture LLC as lender, will be triggered by the filing, accelerating the company’s obligations under such instruments, according to the article.

The board of directors and upper management of the company have also quit.


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Shapeways was devoid of any directors or employees as of the date of the filing.

The chapter 11 trustee will manage the liquidation of its assets and distribution of the money that comes from them.

The filing states that the Bankruptcy Court will appoint a Chapter 7 trustee to manage the Company’s bankruptcy estate and liquidate its assets according to the Bankruptcy Code.

“An initial hearing for creditors will be scheduled and the Notice of Bankruptcy Case Filing will be sent to known creditors once a Chapter 7 trustee is appointed.”

In the brief Chapter 7 bankruptcy petition, which was reported by TheStreet, neither a list of creditors nor a range of assets and liabilities were included.

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