Eindhoven-based 3D printing service Shapeways is getting a second chance after its bankruptcy in slimmed-down form. Trustee Jeroen Tuffer says the company, bought by local Dutch management, will continue with Dutch operations only.
3D printing service Shapeways, a Philips spin-off with offices in the U.S. and the Netherlands, went bankrupt early last month. According to the trustee, several parties showed interest in a possible restart and several bids were received.
The restart plan of the local Dutch management of the production plant in Eindhoven united in the collective Manuevo, drew the longest straw. As a result, the Eindhoven production site will remain active. It is expected that 30 of the 53 jobs will be retained. Shapeways will continue to operate under its own name for the time being.
3D printing on-demand
Shapeways lets customers, both designers and consumers, design and upload their own 3D files online. The company then physically prints these objects in a variety of materials.
In addition, Shapeways offers a marketplace where designers can sell their creations to a global audience. Shapeways is one of the first companies to make 3D printing technology accessible to consumers and designers worldwide.
Stock market listing and bankruptcy
In 2021, the company expanded its headquarters to the U.S., where it was listed on the Nasdaq. However, the company failed to turn a profit and accumulated losses in the following years. Finally, in early July this year, bankruptcy was filed first in the U.S. and a day later in the Netherlands.
A so-called Chapter 7 bankruptcy trustee has been appointed for the bankrupt American branch. Where possible, the bankruptcy procedures are coordinated.