Not NHL, but I'll offer the short-lived Plattsburgh Pioneers of the 1984-85 QMJHL season:
They were the first American-based team in the league, and were only allowed to sign American players, and not allowed to have an expansion draft. As a result, the team had to sign prep school players who weren't going to make the NCAA.
The team started out with some potential, a 7-6 overtime loss, giving them one point. That would be the only point the team would earn that season, which lasted all of 17 games, all losses. Games were lost by scores of 13-0, 15-2, 17-1, 11-1, etc. The team was outscored 185-56 in those games, including a five game stretch where they lost by a combined 73-9 margin.
After 17 games, the QMJHL disbanded the team on account of financial reasons. The owner of the team, Denis Methot was also GM, coach, recriuter, marketer, etc. He complained that the league didn't help him, and only sent communications in French (I don't really know why he would expect anything different; not to mean an attack on Quebec, but more an ignorant thought by the owner thinking he would be different).
As the team was so terrible, the league did something drastic. All games played against Plattsburgh by other QMJHL teams were annuled, all points not counted towards player stats. The team was removed from history.
Some of the players were sent to other teams in the league, others, who had lost their NCAA eligibility, played in lower level minor leagues. The most notable Pioneer was probably John Torchetti, who coached the Panthers and Kings.
