Vancouver company had raised more than US$100-million from Shopify and other large tech investors
Vancouver’s Bench Accounting suddenly ceased operations Friday, potentially putting hundreds out of work and leaving customers of the bookkeeping company – which had
“Bad investors destroyed a great Canadian company by replacing the founder with so-called professionals,” Mr. Nejatian wrote. Multiple unverified reports said Bench has filed for creditor protection and that its roughly 450 employees had been laid off, though Mr. Durrios did not respond to multiple requests for confirmation. Bench first launched in 2011 and at its peak had a staff of nearly 700.
Richie McIlroy had been a Bench customer for just two months when he learned the company was shutting down. His company, a Liverpool, England-based screen-recording sharing startup called Cap that he describes as an open-source alternative to the video messaging app Loom, paid Bench nearly US$2,000 for 10 months of backfilling and two monthly subscription payments.
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