Scottsdale electronic cigarette maker files for bankruptcy protection

Scottsdale-based NJoy Inc. has filed for Chapter 11 bankruptcy reorganization — a few months after the U.S. Food and Drug Administration issued new regulations for e-cigarettes.
The FDA’s finalized rules to regulate all tobacco products — including e-cigarettes — became effective Aug. 8.
But NJoy’s problems came long before the FDA regulations. The company has amassed a deficit of $234.4 million, according to the bankruptcy filings in the U.S. Bankruptcy Court in the District of Delaware.
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Source:: TVECA

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