3D Printing Specialist Shapeways Has Gone Bankrupt — Leaving Customers Adrift

UPDATE (8/8/2024): Shapeways' former European arm, based in Eindhoven, has announced the acquisition of Shapeways' Dutch assets and the formation of a new company to continue its work: Manuevo.

"We are thrilled to announce that under our new name, Manuevo, the former Eindhoven Shapeways team together with two co-founders have successfully acquired the Shapeways assets out of Dutch bankruptcy," the newly-formed company announced a month after Shapeways entered bankruptcy.

More information is available on the Manuevo website; the new company will be concentrating on the European market, with no word yet of plans for expansion into the US.

Original article continues below.

"Like before, we offer a full suite of solutions: from design and engineering, prototyping, and bridge-manufacturing to mass production."

3D-printing pioneer Shapeways is no more, as the company has entered bankruptcy — with all assets liquidated immediately, and its doors closed for good.

"After considering all strategic alternatives," the company stated in its filing to the Securities and Exchange Commission (SEC) this week, "Shapeways Holdings, Inc. ceased operations and filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Code, 11 U.S.C. §101 et seq. Each of the Company's subsidiaries also ceased operations and filed voluntary petitions for bankruptcy relief."

The move is sudden: the company's chief executive officer Greg Kress, chief financial officer Alberto Recchi, and chief operating officer Andy Nied all tendered their resignations with immediate effect — along with the entire board of directors. "Such resignations are not the result of any disagreements with the company regarding the company's operations, policies, or practices," the filing claims.

Founded in 2007 as a spin-off from Royal Philips Electronics, Shapeways became a major player in the rapid prototyping market — allowing those without access to high-end 3D printers to send files off to be printed. Even those with access to commercial-grade printers may have found the company's services tempting, with support for more exotic materials including food-safe ceramics and metals. Designs could also be uploaded to the Shapeways Marketplace, allowing others to place orders for on-demand production.

The company's popularity saw it deliver more than 20 million objects globally by 2021 — attracting interest from investors who proposed a merger with a special-purpose acquisition company, Galileo Acquisition, to form Shapeways Holdings. That merger and the listing on the New York Stock Exchange (NYSE) that followed, however, appears to have been the precursor to the company's downfall — a stock price plummet triggering its delisting and move to the Nasdaq exchange.

The bankruptcy comes as Shapeways found itself unable to pay debts including, but not limited to, a promissory note valued at $669,500 from 3DP Custom Manufacturer. Those who have orders outstanding at Shapeways, sadly, will find themselves at the back of the queue for redress — and, given the scale of the company's debts and the speed at which its assets have been liquidated, are unlikely to be made whole.

At the time of writing, the Shapeways website was still operational — but readers are advised not to place any orders.