NJOY files for bankruptcy

[xhuffer]

The company filed for bankruptcy protection on Sept. 16 in Delaware federal court, burning some high-powered Silicon Valley investors, including Sean Parker, co-founder of the now-defunct Napster, and PayPal founder Peter Thiel, who were part of a $70 million capital round that valued njoy at $1 billion in 2013. Singer Bruno Mars is also an investor in njoy and a fan of the e-cigarettes, which heat nicotine-laced liquid into vapor.

E-cigarette maker files for bankruptcy | New York Post

 

[Semiretired]

I am her surprised with this. Always assumed they would survive the deeming.

 

[zoiDman]

That was kinda a Shocker.

 

[Train2]

Wow - I, too thought the ugly FD'A'd future might include shops featuring nothing but njoy and Vuse...
They sure screwed up big and pretty quick.

 

[Dieseler]

Hmm also thought they were doing ok as well.

 

[zoiDman]

Looks like NJOY filed under Chapter 11.

Breaking News/CSD Exclusive: NJOY Files For Bankruptcy - Convenience Store Decisions

Understanding the Different Types of Business Bankruptcy

 

[bnrkwest]

So they maybe restructuring??

 

[Semiretired]

So they maybe restructuring??

Or they could be looking for a buyer.

 

[zoiDman]

So they maybe restructuring??

Possibly.

Or they could be looking for a buyer.

That would be a Very Possible Option.

It's just that there is a BIG Black Fly in the Frosting. And that Black Fly is the FDA.

 

[Semiretired]

It's just that there is a BIG Black Fly in the Frosting. And that Black Fly is the FDA.

They might know something that we don't.

 

[Train2]

My first thought - CH11 means they're for sale.
And guess who'll pick them up, nice and cheap as they're in debt...>

 

[zoiDman]

They might know something that we don't.

Many know a Lot More than we know.

But in this case, who is They?

 

[zoiDman]

My first thought - CH11 means they're for sale.
And guess who'll pick them up, nice and cheap as they're in debt...>

Who?

 

[Semiretired]

Many know a Lot More than we know.

But in this case, who is They?

Njoy and BT

 

[Train2]

Some big tobacco conglomerate, getting ready with "brand name juice" for the new limited market...

Who?

 

[zoiDman]

Njoy and BT

Gotcha.

 

[Semiretired]

Gotcha.

I have worked for two companies and the higher UPS were always less stressed than us - they always knew more than they were telling. Sometimes things were arranged even before the filing.

 

[zoiDman]

Some big tobacco conglomerate, getting ready with "brand name juice" for the new limited market...

Hard to say as we move into a Fully Regulated market.

On one hand, this is Exactly what BT wants. To see a Major Competitor fall and be removed from play.

On the Other hand, NJOY may have some Manufacturing/Assembly assets that BT might like if the Price was Right.

 

[Semiretired]

On one hand, this is Exactly what BT wants. To see a Major Competitor fall and be removed from play.

This will also scare some of the small players out early...

 

[zoiDman]

I have worked for two companies and the higher UPS were always less stressed than us - they always knew more than they were telling. Sometimes things were arranged even before the filing.

Yeah... NJOY's directors have known there were Problems. That is kinda a given.

And they might have been Quietly shopping the Company or looking for Cash Infusions for awhile.