Shapeways files for bankruptcy and management team resigns

July 4, 2024

Shapeways offered a number of metal Additive Manufacturing production options, including Binder Jetting and PBF-LB (Courtesy Shapeways)
Shapeways offered a number of metal Additive Manufacturing production options, including Binder Jetting and PBF-LB (Courtesy Shapeways)

Shapeways Holdings, Inc, headquartered in New York City, USA, has ceased operations and filed for bankruptcy. All of the company’s subsidiaries were reported to have also ceased operations and filed voluntary petitions for bankruptcy relief.

Prior to the announcement, Shapeways’ digital manufacturing platform offered customers access to a range of manufacturing services, including Additive Manufacturing and traditional manufacturing processes. The company’s purpose-built software, a wide selection of materials and technologies, and global supply chain was intended to lower manufacturing barriers and speed delivery of products. Throughout its lifespan, the company has reportedly delivered over twenty-one million parts to a million customers in over 160 countries.

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Bankruptcy was filed in the United States Bankruptcy Court for the District of Delaware. As a result of the bankruptcy filing, it was stated that a Chapter 7 trustee will be appointed by the Bankruptcy Court and will administer the company’s bankruptcy estate, including liquidating the assets of the company in accordance with the Bankruptcy Code. Once a Chapter 7 trustee is appointed, an initial hearing for creditors will be scheduled, and the Notice of Bankruptcy Case Filing will be sent to known creditors.

It was also announced that Greg Kress, the company’s Chief Executive Officer, Alberto Recchi, Chief Financial Officer, and Andy Nied, the company’s Chief Operating Officer, resigned as executive officers. Following the bankruptcy filing, neither the company nor any of its subsidiaries have officers or employees. Directors Leslie CG Campbell, Raj Batra, Ryan Kearny, Greg Kress, Christine Gorjanc, Alberto Recchi and Josh Wolfe also tendered their resignations as members of the company’s Board of Directors.

In 2021, Shapeways was acquired by Galileo Acquisition Corp., a publicly-traded special purpose acquisition company. Later that year, the company was listed on the New York Stock Exchange. In 2023 the company transferred its listing from the New York Stock Exchange to The Nasdaq Global Market. Also in 2023, Shapeways launched MFG Materials, offering a range of raw materials to manufacturers at discounted rates.

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