Motion for Case Dismissal or Conversion Filed for JRjr33, Inc.
October 19, 2018 at 09:30 am IST
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The US Trustee for Region 6 filed a motion in the US Bankruptcy Court seeking the dismissal or conversion of JRJR33, Inc., Chapter 11 to chapter 7 bankruptcy case on October 19, 2018. As per the motion filed, the jointly administered debtors have no cash, operations, or employees. Simply put, the debtors have no reasonable likelihood of reorganization and have not taken any overt steps to effectuate a reorganization. Additionally, the debtors have not complied with the administrative requirements of bankruptcy.
JRjr33, Inc. (JRJR), formerly CVSL Inc., offers a platform of direct-to-consumer brands. The Company operates through the segments, which include Gourmet Food, Nutritional and Wellness, Home Decor, Publishing and Printing, and Other. The Gourmet Food Products segment consists of operations related to the production and sale of hand-crafted spices, oils and other food products from around the world. The Home Decor segment consists of operations related to the production and sale of premium hand-crafted baskets, and the selling of products for the home, including pottery, cleaning, health, beauty, home, outdoor and customizable vinyl expressions for display. The Nutritionals and Wellness segment consists of operations related to the selling of nutritional supplements and skin care products. The Publishing and Printing Segment consists of the operations of Happenings Communications Group, Inc. and Paperly, Inc. The Other Segment consists of the operations of Tomboy Tools, Inc.
JRJR33, INC. 