As noted by MacRumors, Enjoy, a delivery startup founded by former Apple exec Ron Johnson, filed for Chapter 11 bankruptcy, according to a filing with the Securities and Exchange Commission (SEC). This is less than one year after raising over US$250 million in growth capital and going public on the stock market.
The company will be pausing at-home delivery and setup of Apple products in the U.S. beginning July 1 in order to “focus on its business priorities.” Given the bankruptcy filing, the service may be permanently ended, notes MacRumors.
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.
