Ex-SPAC Led by Former Apple Executive Goes Bankrupt, Plans Sale

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.

Enjoy operates what it calls mobile retail stores that help consumers buy and set up technology gadgets, like mobile phones, in their homes. The Palo Alto-based company, ...