FYI – Loot Crate Subscription Update

The point of bankruptcy is to get out of paying your vendors. Which means that they won’t do business with you in the future. They’re going to have to find some new ones to fulfill whatever they’re intending to send out in the future, so I wouldn’t expect good quality. File a claim with your CC ASAP.

at one point i was subscribed to 12 boxes of theirs. glad i stopped at the beginning of the year (march). i do have a sanrio crate yet to come but cancelled before they could charge me for the next

you ever wonder why companies like the bam box have just two boxes not thirty. things are easier to maintain with two rather than thirty

Woo hoo!! I’m so glad I demanded refunds for my four lootwear subs two weeks ago!! I actually got the refunds! And a random pair of undies arrived last week! Good bye loot crate!

I wouldn’t expect any new crates or merchandise from this point forward. 10 million dollars isn’t enough to save this company.

I think they’re just paying past due vendors bills, sending whatever they have left on the shelves to fulfill past due crates and closing. I wouldn’t expect any new crates from this point forward. 10 million dollars isn’t enough to save this company.

My guess is that this is just a bailout to fulfill the past crates still owed and pay the past due vendors bills. I seriously doubt any new crates will be sent out. In other words you might get the crate you were owed 3 months ago but don’t expect to get any new ones. Plus now they have bankruptcy protection so run as far away from them as you can.

A Bloomberg article has more exact figures: more than $30mm in trade debt, $20mm of product sales not shipped and nearly $6mm in taxes. They’re not coming back with a $10mm influx…

Still waiting on the Star Trek Crates I paid for in October of 2017!!!!! They refused to refund my money saying they were coming by June 2019. Still nothing.

I cancelled my Loot Crate subscriptions to the Wizarding World Crate and the Sanrio box a few months ago. The quality had declined, and they were always late. I hope everyone that is currently subscribed or still owed boxes can get a refund. I got burned by Beauty Box 5 and Little Lace Box when they each went under, so I know how it feels.

Yeah, $10 million would not be enough to revitalize this company. I’m actually surprised that the “investors” think that they’ll be able to make their $$ back.

I canceled after numerous shipments were missing an item and this weekend I recieved a random pair of boxers in the mail. Hoping the group that acquired loot crate keeps them but cuts the amount of boxes so a manageable number. I really did like their shirts.

I requested a refund about a week and half ago bc i had a feeling this was going to happen, when they pushed my crate delivery back till october for May’s crate. I got my refund. I suggest everyone do as well.

Unfortunately my son had a year long subscription paid thru Oct and I think it’s been a few months since his last box. Live and learn…never will I prepay for a sub box!

They pretty much mentioned past crates, but not upcoming ones. They’ll likely fill back orders then reimburse for future boxes. As I mentioned in the last LC shipping update thread, all the same signs from Nerdblock were there. Nerdblock said they were coming back in 2018 but there’s been no update for 2 years. I’m going to say LC will be the same. A shame, this box was really good at one point. I have to agree with others, this is just an investor trying to recoup losses, not make the business solvent long term.

This is going to be a disaster. If there were just one type of box then I can see that being manageable but they have numerous boxes. I can’t imagine that people are going to see the fulfillment of their subs.

This PR statement was written by Loot Crate. On Friday they laid off 50-60 employees without warning, and gave no severance. Employees were told to cash checks before the end of the day. This info was shared by the employees.

What is most likely happening is, the company that is acquiring them, will then be selling all of the assets piece by piece to recoup their money. They will not be sending out new products. If you get anything, it will most likely be left over items to fulfill your contract.

The statement makes it seem like Loot Crate will continue, but the reality is it’s over. Get your refunds as fast as you can, and do so by filing a charge back with your credit card company.

Translation: The investor company put its foot down and said to the staff “WE’RE going to step in and run this show, because you’ve e f f e d it up so badly.”

As part of this step-in, the investor created a company (the name “Loot Crate Acquisition LLC” is a dead giveaway) that did not exist until a few weeks ago to do exactly what its name says.

I wish all the best to those of you who are waiting on crates you paid for. It sounds as if the investor thinks that it’s worth continuing this venture, so things are looking up! BUT, they’ve covered themselves well in case this investment continues to lose money and has to fold. An LLC is not a corporation, and there’s less liability if things go south.

And this makes me happy that I have stopped my subscription to the harry potter crate. They’re going the way of nerd block. Now with the limited operation costs I can guarantee it’s gonna go the way of even crappier items….