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ASK ANY JACKED guy about the most common question they're posed in the gym, and you'll probably get a common response: Everyone wants to know how much weight they can bench (typically inquired with a "bro" at the end, for good measure). The barbell bench press is one of the universal gauges of strength lifters use to establish the weight room hierarchy. The more plates you can pile onto each side of the barbell and successfully push off your chest, the higher you are in the pecking order.
There's much more than just the bench press when it comes to expressing strength, of course—but you shouldn't discount its value just because it's the average meathead's go-to measure. As generations of lifters can tell you, the compound exercise is one of the best ways to build strength and pack on upper body mass. There are few exercises that allow you to train your upper body with more weight, which is essential for these types of gains. And while using a barbell might not be the best choice for all lifters, the variation's place as one of powerlifting's Big 3 movements and its reputation makes it an important anchor of many…
Bench, the accounting startup that imploded over the holidays, filed for bankruptcy in Canada on January 7 revealing massive debts, documents seen by TechCrunch show.
The filings — one for Bench and another for 10Sheet, Bench’s original name — show that Bench had $2.8 million in cash on hand by the end of its life but $65.4 million in liabilities. (TechCrunch converted the bankruptcy filing data from Canadian to U.S. dollars at a rate of $1 USD to $1.44 CAD.) Founded in 2012, Bench had raised $113 million from investors like Shopify and Bain Capital Ventures.
Most of Bench’s debt — $51 million — is owed to the National Bank of Canada, one of Canada’s largest commercial banks. More than 85% of that debt is unsecured, meaning the bank has little collateral to claim against the loan now that Bench has defaulted. That debt may have helped prompt Bench’s sudden shutdown: Tech publication Newcomer reported that NBC declined to make concessions to Bench as it was being shopped around for sale. NBC did not immediately respond to a request for comment.
The bankruptcy filings also reveal financial obligations to Bench’s VC investors, split between convertible notes (which are…
Bench, a Canada-based accounting startup that offered software-as-a-service for small and medium-sized businesses, has abruptly shut down, according to a notice posted on its website.
“We regret to inform you that as of December 27, 2024, the Bench platform will no longer be accessible,” the notice reads. “We know this news is abrupt and may cause disruption, so we’re committed to helping Bench customers navigate through the transition.”
The company’s entire website is currently offline except for the notice, leaving thousands of businesses in the lurch. Bench touted having more than 35,000 U.S. customers just hours before it was shut down, according to a snapshot saved by the Internet Archive.
Bench, which had raised $113 million from high-profile backers such as Shopify and Bain Capital Ventures, developed a software platform to help customers store and manage their bookkeeping and tax reporting documents.
The move is a shock to current and former customers. Justin Metros, the co-founder and CTO of Radiator, said years of his company’s accounting and tax documents are still stored on the site, although he no longer uses the platform. He learned about the shutdown from TechCrunch.
“I’ve never seen anyone just shut down like that,”…