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Reevemark is working the Chapter 11 filing of 23andMe, the former high-flying ancestry testing kit company that failed to rebound from a 2023 data breach incident that exposed the personal information of nearly 7M customers.
The San Francisco-based company will use the bankruptcy protection to try to find a buyer of its assets.
Mark Jensen, chair and member of a special committee of the board, also noted that the court-supervised process will "advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities.”
The company laid off about 200 employees late last year.
23andMe announced that CEO Anne Wojcicki, who attempted to buy the company, has resigned her post but will remain a board member.
CFO & accounting officer Joe Selsavage will assume the additional role of interim CEO.
Reevemark’s Hugh Burns, Nicholas Leasure and Luc Herbowy represent 23andMe.
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