On June 30, 2022, Palo Alto, California-based mobile technology retailer pairing company Enjoy Technology, Inc., along with two affiliates, who provide a revolutionary commerce-at-home experience for consumers through the companies’ network of mobile retail stores, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10580). The company reports $100 million to $500 million in assets and $10 million to $50 million in liabilities. The company states that since going public in 2021 through a special purpose acquisition company transaction, the company has been unable to achieve profitability due to the ongoing operating costs associated with the development and growth of their platform. The company says they have received a proposal and signed letter of intent from Asurion LLC for a sale of substantially all of their U.S. assets. Asurion has agreed to provide a small prepetition short-term bridge loan of $2.5 million and has agreed to fund a DIP facility of $55 million, including $52.25 million of new money and an interim rollup of the prepetition bridge loan. The companies state they have an imminent need for the DIP because of their deteriorating cash position, which is currently insufficient to fund critical expenses, including payroll.