Juul Labs is in talks with two major investors about a bailout package that could help the e-cigarette maker avoid filing for bankruptcy, according to people familiar with the matter.

Hyatt Hotels heir Nick Pritzker and California investor Riaz Valani are considering funding the e-cigarette company's operating expenses and short-term legal liabilities, according to people familiar with the matter. Pritzker and Valani were early investors in Juul, longtime directors and one of the company's largest shareholders.