Loot Crate, a nerd-centric subscription service that sends customers a box of junk every month, filed for bankruptcy.
Loot Crate Inc. has filed for Chapter 11 bankruptcy protection, with a company “affiliated with an investment group that includes one of the largest and best-run collectible manufacturers and distributors in the world” providing Debtor-in-Possession financing and acting as a stalking horse bidder, according to court documents provided by Wall Street Journal.
I’m a former Loot Crate customer
I canceled my subscription after I realized the stuff they were sending me wasn’t worth the cost of my subscription. That’s an understatement. It’s something I should have realized a lot sooner. Every month I received a box of stuff, most of it I would have never purchased if left to my own devices.
Some companies deserve to go out of business. Loot Crate is one of them.