Bench Shuts Down, Leaving Thousands of Businesses in the Lurch

Bench Shuts Down, Leaving Thousands of Businesses in the Lurch
Bench, a Canadian accounting startup, has abruptly closed its operations, impacting over 35,000 U.S. customers. The company announced its shutdown on December 27, 2024, leaving many businesses without access to vital bookkeeping and tax documents. Customers are urged to file for a six-month IRS extension and download their data by December 30. With a history of significant funding and a large workforce, the sudden closure has shocked users, prompting concerns on social media. Former CEO Ian Crosby criticized the leadership changes leading to the downfall of the company.