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Aescape’s new CEO says the company will continue operating under a revamped business model after insolvency proceedings.

After Aescape’s original corporate entity entered insolvency proceedings with more than $150 million in unsecured debt, the brand's new CEO, Frank Britt, is pushing back on the idea that the AI-powered robotic massage company is out of business. Britt said Aescape Recovery, the new operating company, is trying to move the business forward under a different capital structure, leadership team and go-to-market model.

2h ago · 1 source