- Juul Labs Inc CEO KC Crosthwaite said the company is taking whatever steps are necessary to keep it afloat. Altria Group Inc MON has a minority stake in the company.
- The company would lay off some employees after abandoning expansion plans outside the US, the Wall Street Journal reported quote the manager.
- Related: The e-cigarette manufacturer Juul is considering possible bankruptcy
- Juul has also refinanced its secured debt, giving it more time to explore more long-term options, the CEO added.
- Juul has been bracing for a possible bankruptcy filing amid a dispute with the FDA to the sales ban.
- “We firmly believe that we have a future, and in that future, Juul products will be available to millions of adult smokers around the world,” Mr. Crosthwaite said Thursday. “To make that future a reality, we have to keep fighting and making hard choices.”
- In a federal poll, Juul was not among the most popular vape brands used by middle and high school students.
- According to the survey conducted between January and May, Puff Bar remained the most popular e-cigarette brand among young people. Puff Bar has since been ordered by the market.
- Price promotion: MO shares are down 0.60% to $42.73 during the premarket session last Check Friday.
- Photo via Wikimedia Commons
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