SmileDirectClub Inc. is in talks with its founders and creditors about a plan to save the once high-flying dental aligner company from liquidation, Bloomberg News reported. Publicly traded SmileDirectClub filed for bankruptcy in late September with plans to hunt for a buyer. While no third-party suitor emerged by an agreed deadline, new court papers show, founders Jordan Katzman and Alex Fenkell have since offered to take over the business and invest fresh cash. The proposal calls for Fenkell and Katzman to extend $30 million of debt to SmileDirectClub — on top of the $20 million they already lent to fund its search for a rescuer — and put as much as $25 million of new equity into the business, court papers show. In exchange, the founders would receive 100% of the reorganized company.
