In 1923, the Pepsi-Cola Company entered bankruptcy—in large part due to financial losses incurred by speculating on the wildly fluctuating sugar prices as a result of World War I. Assets were sold and Roy C. Megargel bought the Pepsi trademark.[1] Megargel was unsuccessful in efforts to find funding to revive the brand and soon Pepsi's assets were purchased by Charles Guth, the president of Loft, Inc. Loft was a candy manufacturer with retail stores that contained soda fountains. He sought to replace Coca-Cola at his stores' fountains after the Coca-Cola Company refused to give him additional discounts on syrup.