According to a report from The Information, Jawbone has entered into liquidation proceedings, with the Co-founder and Chief Executive, Hosain Rahman is moving into a new direction for the company. It will be known as the Jawbone Health Hub, which will primarily focus on health-related products and services.

This outcome is a result of financial turmoil that has been going on over the past year, which led to deteriorating customer service, dwindling inventory and key executives departures – all as the company entered into a legal battle with its rival, Fitbit, which ranged from trade secret lawsuits to patent infringement claims.

Jawbone was not always a company on the brink, but its shift to health and fitness-tracking products turned out to be a timely move from its well-known best-selling Bluetooth headsets and Jambox speaker line.