The bench passed from $ 135 million before shutting down

A more clear picture The collapse of the bench It turns out thanks to the newly released bankruptcy documents.

Notes show that a large enough cloud accounting program for small businesses, a Canadian-based start of fighting to earn consistently earnings. It turned on 135 million dollars by September 2024 in 2012.

By the time His collapseThe record of the notes was forced to close the bench due to the “liquidity crisis”. Bench, $ 800,000 in Canada’s account, although the US organization was less than $ 400,000, he had cash in the Canadian account.

The bench has made a little progress to reduce burns in recent years. The financial improvement was the main mission of the Bench-in Bench, Bench-in Bench-in Bench-in CFO, which began in 2022 and began to carry the floors. According to the former employees.

For example, the bench lost about $ 30 million in revenue from $ 42 million to March 2022. However, when the bench increased to $ 49 million, he reduced his loss in half of the next fiscal year.

However, this did not improve the benches to lower the loss of the bench. The company, in June 2024, the largest debt of Bench, the private National Bank of Canada, more than $ 40 million in the machine, According to the Philings.

He gave a bench for a while to buy himself for a sale, The position of the third General Director. And NBC, on December 12, 2024 – only 13 days before DENCE – NBC, Bench has signed a new financial and tolerance agreement with Bench, almost the beginning of a temporary pause or changing loan liabilities.

Notes do not specify why the bench is closed two weeks later. A bank – perhaps NBC – Bench’s enterprise debt, information declare. Newcomers declare This refused to sell nbc, other concessions for sale around the bench.

NBC did not respond to a request for commentary from TechCrunch. Nbc is $ 51 million debt The bench and this number are calculated due to interest and other fees, document records.

No matter what, the bench is now on a new road The employer.com located in the United States has been announced suddenly It is planned to be obtained only 72 hours after the collapse of the beginning. This process is based on the “thinking” agreement on the closing date of a date dated February 28, 2025.

Again, the bankruptcy of the benches, offers a window in danger of much debt for the start. And enterprise debt will play creditors Plays a big role in the sale and startup parcels Experts say that this year will continue in a fast clip.