E-cigarette maker NJoy has asked a Delaware federal court for Chapter 11 bankruptcy protection, citing an accumulated debt of USD 234.4 million (EUR 209.7 million), the New York Post reported.

Based in Scottsdale, Arizona, NJoy was among the first to advertise its vaping products on US television. However sales of its King disposable e-cigarette went into sharp decline after peaking at USD 93 million in 2013, a year in which the company was valued at USD 1 billion, the Post said. Prior to the 16 Sept filing, NJoy reportedly unsuccessfully sought a buyer for the company.