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A Jawbone spokesperson declined to forced to cut ties with its external customer service agency, sources said." data-reactid="27"Jawbone stopped producing its fitness trackers last year, according to sources familiar with the company. Jawbone sold its remaining inventory to a third-party reseller at a reduced price in order to generate much-needed revenue, sources said.

The company also had trouble paying some vendors for their services and was forced to cut ties with its external customer service agency, sources said.according to Recode's Kara Swisher.

Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source. As for Fitbit, its stock is trading at 52-week lows." data-reactid="25"Jawbone, which was once valued as high as $3 billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel.

Last year, smartwatch maker Pebble sold its assets to Fitbit in a fire sale.

A default on a scheduled federal debt payment, caused by the government’s lack of funds necessary to service its debt obligations, could spark a fire sale on U. Treasury securities, prompt a sharp fall in the value of the dollar, and launch a rapid “flight to quality” as investors and dollar holders flee to the perceived safety of other nations’ bonds and currencies—all culminating in a U. Raising the necessary tax revenue would, for example, siphon off significant funds from businesses and households, thereby slowing the wheels of commerce and reducing household wealth.

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