**Main points:** - Bench, a Canadian accounting and tax startup, shut down abruptly on December 27 after 13 years, leaving thousands of small business owners without access to their accounts. - The sudden closure was due to a bank calling in Bench's venture debt, with all staff laid off immediately without notice or severance. - The company's struggles were attributed to its overreliance on AI and automation tools, which caused delays and customer churn. - However, the shutdown sparked media attention, leading to an unexpected acquisition by Employer.com, an HR tech firm, which plans to revive Bench and rehire many former staff. **Supporting details:** - Bench had raised $113 million from investors and claimed over 12,000 customers before its shutdown. - The company went through multiple rounds of layoffs and executive changes, including the replacement of its founder and CEO. - Employer.com, the acquirer, has no prior experience in accounting but plans to honor customer contracts and rehire former staff.