Jawbone, the consumer electronics company that rivaled Fitbit in the wearables space for years, has reported shut down shop and is now liquidating its assets. The Information (subscription required) was the first to report the news which has since been independently corroborated my several other publications.

According to reports, Jawbone co-founder Hosain Rahman has abandoned ship to create a new company called Jawbone Health Hub that's being backed by a new, unnamed investor.

Whereas Jawbone as we know it targets the consumer market, Jawbone Health Hub will focus on clinical health services as outlined in this job description for a senior art director:

Combining more than 20 years of proprietary wearable technology with clinically relevant signals, Jawbone Health connects patients and physicians like never before with continuous, data-driven dialogue.

When probed for comment by TechCrunch, neither Jawbone nor Rahman replied. The company's Twitter and Facebook accounts were abandoned back in early February.

Jawbone has likely been in trouble for a while now. In late 2015, the company laid off 15 percent of its global workforce as part of a restructuring effort. The move also resulted in the closure of an office in New York City and downsizing at Sunnyvale and Pittsburgh locations.

Jawbone was founded in 1999 as Aliph (its name was officially changed to Jawbone in 2011). The company found moderate success with its Jambox line of Bluetooth speakers and was a leader in the wearables industry a few years back.

That industry, however, ultimately failed to capture consumer interest as several major players have already halted further product development.

Second photo courtesy Getty Images