Legal/Regulatory

Reevemark supports 23andMe in Chapter 11 bankruptcy filing

The firm is also working on Forever 21’s U.S. operating company in its bankruptcy filing.

Jess Ruderman

March 25, 2025

10:44 am

Credit: Getty Images / Smith Collection/Gado

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Strategic comms firm Reevemark is representing 23andMe in its Chapter 11 bankruptcy filing.

The human genetics and biotechnology company said on Sunday that it had initiated voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Missouri to facilitate a sale process to maximize the value of the business.

Reevemark and strategic advisory firm Scale are serving as communications advisers to 23andMe.

Reevemark has been working with 23andMe since last summer after it was brought on to help the company navigate cofounder and CEO Anne Wojcicki’s efforts to take 23andMe private. Reevemark’s remit expanded to issues management, culminating in the Chapter 11 announcement, according to the firm.

Reevemark is providing comprehensive communications services leading up to and for the filing as well as the restructuring process, according to the agency. Reevemark founding partner Hugh Burns, partner Nicholas Leasure, and SVP Luc Herbowy are working on the account.

23andMe did not respond to requests for comment about its agency support.

Through the filing, 23andMe is seeking authorization from the court to commence a process to sell “substantially all of its assets.” If approved, the company, with the assistance of an independent investment banker, would actively solicit qualified bids over a 45-day period. If multiple bids are submitted during the sale process, 23andMe plans to conduct an auction.

Wojcicki has stepped down as CEO, effective immediately, the company said in a statement. She will remain on the 23andMe board.

This month, a board committee rejected a nonbinding acquisition proposal from Wojcicki, who had been trying to take the company private. Wojcicki shared in a post to X Monday that she still intends to bid on the company.

“While I am disappointed that we have come to this conclusion and my bid was rejected, I am supportive of the company and I intend to be a bidder,” she said. “I have resigned as CEO of the company so I can be in the best position to pursue the company as an independent bidder.”

Any potential buyer will be required to comply with applicable laws and regulation with respect to the treatment of customer data, according to 23andMe. Any transaction will also be subject to customary regulatory approvals.

23andMe intends to continue operating its business in the ordinary course throughout the sale process. There are no changes to the way the company stores, manages or protects customer data, it said in a statement.

Reevemark is also representing Forever 21’s U.S. operating company in its recent chapter 11 bankruptcy filing. The retailer filed for bankruptcy for the second time in six years earlier this month.

The agency is similarly providing communications services surrounding the filing and Forever 21’s restructuring.

Reevemark began working with the company in January, starting with the announcement of the formation of Catalyst Brands, the parent company created through the merger of SPARC Group and JCPenney, and the strategic review of Forever 21.

SPARC Group’s brands include Forever 21, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand Jeans and Nautica. The agency has been supporting Forever 21 through the culmination of the strategic review and the chapter 11 filing.

Burns, Reevemark founding partner Renee Soto and Herbowy are working across the account.

CEO Brandy Bergman launched Reevemark alongside a group of former Sard Verbinnen partners in 2018. The firm offers senior counsel in litigation support, regulatory matters, crisis preparedness and management, transactions and media and investor relations.

This article originally appeared on PRWeek US.

23andMe’s bankruptcy filing came after long saga of challenges. Read more here.

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Reevemark supports 23andMe in Chapter 11 bankruptcy filing

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