Desktop Metal Files Bankruptcy After Lawyers Demand Unpaid Fees

Desktop Metal, a prominent 3D printing company, has filed for bankruptcy after facing demands from lawyers for unpaid fees. The filing comes just months after new owners were compelled by a court to complete the acquisition of the company. The bankruptcy filing suggests that Desktop Metal has been struggling financially, unable to meet its financial obligations, particularly towards the legal professionals involved in the recent ownership change. The company's inability to resolve these outstanding payments ultimately led to the decision to seek bankruptcy protection. The filing highlights the challenges faced by the 3D printing industry, which has seen rapid growth but also intense competition and financial pressures. Desktop Metal's situation serves as a cautionary tale for other companies in the sector, underscoring the importance of sound financial management and the ability to navigate complex legal and regulatory environments.