JRJR33 files for bankruptcy, drags Agel and others down with it
JRJR33, owner of Agel and a slew of other MLM companies, filed for Chapter 11 bankruptcy on June 29th, 2018.
At the time of its bankruptcy filing, JRJR33’s mot prominent MLM company still standing was Agel.
Although to what extent Agel has remained viable over the past twelve months is questionable.
Alexa rankings for the Agel website show a sharp decline in activity beginning July, 2017.
Agel’s social media profiles were abandoned a month earlier in June.
BehindMLM reviewed Agel back in 2015 and found a heavy focus on affiliate autoship recruitment.
At the time of publication the Agel website appears to have been taken down.
JRJR33, formerly known as JRJR Networks and CVSL, also owned and operated Longaberger.
Longaberger collapsed back in May, against the backdrop of a $2.1 million judgment against the company awarded to former CEO, Tami Longabeger.
The $2.1 million judgment for Tami Longaberger includes $1.275 million in salary, $608,642 in deferred salary and $208,986 in business expenses.
The judgment did not include another $1 million in personal loans she made to the company.
Tami’s sister, Rachel Longaberger Stukey, a former Longaberger Co. shareholder and officer, and former Longaberger Foundation president, also prevailed in a lawsuit against the company in September, when a Franklin County Common Pleas Court judge ruled Longaberger Co. owed Stukey $2.7 million.
The apparent collapse of Longaberger and Agel are just the latest in a string of liquidations and collapses of companies owned by JRJR33.
JRJR33 was founded in 2012 by John Rochon. Longaberger was acquired in 2013, with acquisitions of other MLM companies continuing through to late 2015.
As at the time of publication, JRJR33 are yet to release a formal statement regarding the company’s Friday bankruptcy filing.