Ex-SPAC Enjoy Technology Files for Bankruptcy and Plans Sale

Enjoy Technology Inc., a startup founded by former Apple Inc. executive Ron Johnson, filed for bankruptcy on Thursday less than a year after going public via merger with a blank-check company.

• The Palo Alto-based company plans to sell itself to Asurion LLC through the bankruptcy, court papers show
• Company filed bankruptcy “due to a rapidly declining cash position that has rendered them unable to pay operating expenses, including payroll,” Enjoy lawyers write in bankruptcy court filings
• Enjoy went public by merger with a SPAC last year, raising net proceeds of $112.6 million after repayment of certain loans and ...