NJoy Back From Bankruptcy

Is NJoy Really Back From Bankruptcy?

Published On March 21, 2017 | By Nicole | About E-Cigarettes Articles

If you’ve followed the vaping scene in the USA for any period of time, then you’ve probably heard the tragic tale of a vaping company called NJoy. The company got its start selling disposable cigalikes in convenient stores, and is probably most well-known for ‘the Sottera decision,’ in which the U.S. District Court ruled (in favour of Sottera, as NJoy was called back then) that the FDA could not regulate vaping products as ‘unregulated drug delivery devices.’

Obviously, after this decision, the FDA began the process of regulating vaping products as tobacco products… but NJoy’s path didn’t necessarily lead to greener pastures.

The company made a stab at the gourmet E-liquid market, but failed to grab a secure spot. Between trouble at convenient stores and failing to find its niche with E-liquids, NJoy ran into trouble and declared bankruptcy last year.

But now – it looks like NJoy is going to be back in business, after some investments that have left them without debt, and a restructuring plan that will enable them to hit the market running.

What happened?

NJOY, Inc., has officially been acquired by NJOY, LLC. The new company has raised quite a bit of capital equity ($35 million worth!), most of which came from an investment firm named Mudrick Capital Management.

This firm specializes in corporate turnarounds, and seems dedicated to revitalizing the brand.

Not only is the company prepared to re-enter the marketplace without any debt – but they are also poised to operate within the framework of the FDA’s new E-cig regulations. Spokespeople for NJoy have even said that the company has already started the process of pursuing premarket tobacco authorizations… an essential step to moving forward with the new regulations in place.

Here’s a statement that was made by the Douglas Teitelbaum, the Chairman and CEO of NJOY, LLC.

“Today marks a fresh financial start for the NJOY brand. With the completion of this acquisition and capital raise, we now have ample liquidity and can focus on delivering for our customers.”

What Did We Think Of This Story?

NJoy has been responsible for some pretty awesome vaping products thus-far. They’ve also put out some seriously delicious E-liquids, and were one of the first major brands in the USA to get serious attention as a vaping company.

Read Also:  Banning E-Cigs For Users Under 18

They’re also close to our hearts as activists who challenged the ability of the FDA to regulate vaping products as drug delivery devices… and won.

In the end, we can’t help but to be really thrilled about this new development. We are also thrilled that NJoy is going to hit the ground running in regard to the new FDA regulations. They’re poised to make serious waves, and seem dedicated to the task of keeping vaping alive in the United States. They’re definitely a big player as far as US companies are concerned, and we are excited to see how they develop after their restructuring.

If you’re interested in checking out any NJoy products, you can visit their new and improved website here: https://www.njoy.com

We took a look at it and were pretty impressed. We will no-doubt be on the lookout for new products and e-liquids as they come out, and will be excited to see what NJoy comes up with in regards to the new FDA regulations. Some of them are going to be challenging to keep up with – but we have confidence in NJoy, and will be wishing them the best on this next and latest chapter of their journey.

We vapers and vape supporters need to stick together these days. These are uncertain times for vaping – and if we want the habit to stick around for the long-term, we all need to do what we can to support companies like this… companies dedicated to providing consistency, quality, and innovation.

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About The Author

Nicole It's my passion to do the research about familiar to me topics, especially when it comes to electronic cigarettes and the whole vaping industry as such. I hope you will find my content useful and when / if you do - please do share it! I will appreciate it! :) See our ''Who We Are'' page to find out more about me and my colleagues. Thanks and I look forward to your comments and feedback.

4 Responses to Is NJoy Really Back From Bankruptcy?

  1. Doug Teitelbaum says:

    Thanks for your kind article Nicole.
    We at NJOY are elated to be BACK!
    And we share your view that those of us in the world of vapor need to stick together…we need to always challenge ourselves to continually bring the very finest quality products to market, to continue to innovate and to embrace rational product safety standards that work to the benefit of our customers (after all, we are our own customers as well!)
    We will be increasing our presence in the US and hope to be back with some TPD compliant product down the road.
    Feel free to reach out to me any time with questions or ideas to work together.
    And…keep spreading the word with your friends still stuck in the land of smoke. All vapers share an obligation to spread the word in encouraging those who smoke to move over to the more pleasurable and versatile world of vapor.
    All the best,
    Doug Teitelbaum and the NJOY team.

    • Nicole says:

      Hello Doug, it’s great to see that you really care about the industry and people, not just your business. I’m very pleased to see you post on our website, so thank you for that! We very much look forward to see what TPD compliant gear NJoy releases in the future, and we’ll be more than happy to try them. I shall be in touch and have a great rest of the week.

  2. C says:

    Njoy customer service is terrible. I hope they get better because I do like their products

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