23andMe Begins Chapter 11 Bankruptcy to Sell Off Assets

MT Newswires Live

03/24

23andMe ME) said Sunday it has begun voluntary Chapter 11 bankruptcy proceedings to facilitate a sale.

The genetics testing and genealogy company said it plans to continue operating and safeguard customer data during the process.

23andMe said it is seeking court authorization to sell all of its assets through a chapter 11 plan by soliciting qualified bids over 45 days.

In case of multiple bids, the company said it plans to hold an auction.

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