Why did Loot Crate file for chapter 11 protection?
Loot Crate filed voluntary petitions under chapter 11 of the United States Bankruptcy Code to implement the sale of its business to Loot Crate Acquisition LLC, an affiliate of existing investor Money Chest LLC, while maintaining operations, continuing to ship goods and fulfill orders.
What does this mean for my subscription?
You do not need to do anything. Our buyer is providing us with new financing which allows us to continue our daily operations and our goal is to fulfill all of your subscriptions (past, present and future). Look for updates on deliveries soon.
Do I need to do anything with my subscription?
No. Your subscription is intact and you do not need to make any changes.
I didn’t get a box like I was supposed to. Will it still come?
Yes. You can expect updates on any past deliveries soon. Thanks for your patience while we sort things out.
How will this impact my Loot Vault order?
Like Loot Crate subscriptions, the commitment for up to $10 million in new financing will support our goal of delivering all outstanding orders to the best of our ability and as soon as possible. Additional information will be provided as your order is processed.
Does Loot Crate have enough money to run its business?
We’ve got a commitment for up to $10 million in new financing from our existing investor, Money Chest LLC to support normal operations throughout the brief sale process.
Does the filing impact shipping crates?
Yes, but in a good way. With the new financing, we’re able to finish out crates that had not been shipped. Look for updates on deliveries.
How long will Loot Crate be in chapter 11?
We expect the sale process to be completed in 45 days.
What are the filing details?
Loot Crate, Inc., Loot Crate Holdings, Inc., LC Funding, Inc. and Loot Crate Parent, Inc. filed for chapter 11 protection on August 11, 2019 in Wilmington, Delaware. All the legal information can be found at https://cases.stretto.com/lootcrate or by contacting Stretto toll free at 877.272.4403 or for international callers 949.229.3562.
