For weeks, industry analysts have speculated that Juul could soon declare bankruptcy or sell itself to another company. Thursday's announcement appears to have at least delayed any move in that direction.
"This investment will allow Juul Labs to maintain business operations, continue advancing its administrative appeal of the FDA's marketing denial order and support product innovation and science generation," a company spokesperson wrote in an email.Juul rocketed to the top of the U.S. vaping market five years ago on the popularity of flavors like mango, mint and creme brulee.
Another setback came in September when the company's largest investor, tobacco giant Altria, announced plans to resume competing on its own in the e-cigarette space. The decision means Juul could soon be forced to battle for space on retail shelves with Marlboro-maker Altria, along with longstanding competitors like Reynolds American's Vuse, which recently edged past Juul to become the leading U.S. vaping brand.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Vaping company Juul cuts 400 jobs, citing lawsuits, government bans, increasing competition as causeFor weeks, industry analysts have speculated that Juul could soon declare bankruptcy or sell itself to another company. Thursday's announcement appears to have at least delayed any move in that direction.
Les mer »
Vaping company Juul cuts 400 jobs, citing lawsuits, government bans, increasing competition as causeFor weeks, industry analysts have speculated that Juul could soon declare bankruptcy or sell itself to another company. Thursday's announcement appears to have at least delayed any move in that direction.
Les mer »
Vaping company Juul cuts 400 jobs, citing lawsuits, government bans, increasing competition as causeFor weeks, industry analysts have speculated that Juul could soon declare bankruptcy or sell itself to another company. Thursday's announcement appears to have at least delayed any move in that direction.
Les mer »
Vaping Company Juul Cuts 400 Jobs Amid Growing SetbacksLayoffs at Juul reportedly include 400 staffers and are part of a cost-saving plan to immediately cut the company's operating budget by 30% to 40%
Les mer »
Vaping company Juul cuts 400 jobs amid growing setbacksEmbattled vaping company Juul Labs announced hundreds of layoffs Thursday as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes.
Les mer »
Vaping company Juul cuts 400 jobs amid growing setbacksWASHINGTON (AP) — Embattled vaping company Juul Labs announced hundreds of layoffs Thursday as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes.
Les mer »