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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

Ron Johnson

Photographer: David Paul Morris/Bloomberg

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.