SPAC Led by Former Apple Executive Goes Bankrupt Less Than a Year After Going Public
- Enjoy Technology helps consumers buy and set up tech gadgets
- The company went public via a blank-check merger last year
Ron Johnson
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Enjoy Technology Inc., a retail startup founded by former Apple Inc. executive Ron Johnson, filed for bankruptcy on Thursday -- less than a year after going public through a merger with a blank-check company.
The company plans to keep operating and sell itself to Asurion LLC while in Chapter 11 bankruptcy, court papers show. Asurion has agreed to lend $52.5 million of new money to fund the Chapter 11 case.