![]() Ultimately, the promo companies and other creditors could get their money from Fanjoy. We’re optimistic about the future and will share more as we embark on this new chapter.” ![]() “This decision aligns with our relentless commitment to supporting our creators. ![]() “We’ve filed for Chapter 11 to restructure and strengthen our business strategically,” Vaccarino, who is company president, told Insider. Fanjoy has between 100 and 199 creditors, according to its bankruptcy filing. One court filing said debts totaled about $8.74 million specifically as of June 8, a tally that doesn’t include money owed “insiders” as defined by the Bankruptcy Code. The downturn in fortune was enough to leave the nearly decade-old company with $100,000 to $500,000 in assets – but liabilities of $1 million to $10 million. In court papers filed by one creditor, it’s alleged that mismanagement by Vaccarino was a key reason for the downfall. However, the firm subsequently hit a rough patch, in part because it’s become easier for creators to set up their own merch stores without Fanjoy’s help, according to tubefilter. Headquartered in California, Fanjoy says it has shipped millions of packages since its inception.ĭuring the darker days of the COVID-19 era, Fanjoy’s e-commerce business model reportedly helped propel sales. Inspired while selling merchandise on the road with his brother’s band, Chris Vaccarino founded Fanjoy in 2014 and built a business centered on the design, production, fulfillment and marketing of custom merchandise, particularly for the creator community. TikTok and Google also have unsecured claims that are among the 20 largest listed in the filing. In business for about a decade, Fanjoy partnered with major internet personalities over the years, including Jake Paul, Addison Rae, Elyse Myers and George Not Found.Īccording to the bankruptcy filing, Fanjoy owes Myers $86,562 and gaming streamer George Not Found $94,500. The filing didn’t state the amounts that alphabroder, A Thread Ahead, Miami Tees and Quickturn are owed. There’s also Florida’s Miami Tees, which provides screen printing and more, and Placentia, CA-headquartered Quickturn Professional Screenprinting. They include Top 40 supplier alphabroder (asi/34063) and A Thread Ahead (asi/101620), a distributor/decorator based in San Fernando, CA. Other promo industry firms are counted as creditors, too, though not among the 20 largest. Fanjoy is in the hole to the tune of $288,546 to Gemini Apparel, described as a clothing manufacturer with a New York address. Printful, which specializes in on-demand merch printing and fulfilment, is due nearly $650,000. ![]() Meanwhile, the sum owed to apparel wholesaler Independent Trading Co. That figure was relatively modest compared to the $147,380 due to California-based supplier Lane Seven Apparel (asi/66246). They included Top 40 supplier S&S Activewear (asi/84358), which is owed $89,268. 8 filing in the U.S Bankruptcy Court for the Northern District of Georgia, Fanjoy named its creditors with the 20 largest unsecured claims. Fanjoy, which delivers e-commerce-driven branded merchandise solutions to online influencers/creators, has filed for Chapter 11 bankruptcy protection and now collectively owes some promo products industry companies more than $1 million.
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