As a result of a sales downturn and subsequent consolidation, Mike Lindell’s business is forced to auction off hundreds of items due to its dire financial situation.
Tuesday’s auction will sell approximately 850 items, ranging from office equipment to warehouse and manufacturing items.
Lindell, who has fought against the results of the 2020 presidential election, stated that he was forced to sell the equipment after a cascading effect from his activism shook his highly successful MyPillow company.
According to WCCO-TV, stores such as Walmart and the nearly defunct Bed, Bath & Beyond “cancelled” MyPillow.
The CEO reportedly told the Minneapolis Star Tribune, “It was a massive, massive cancellation.”
“We lost $100 million from attacks by the box stores, the shopping networks, the shopping channels. All of them did cancel culture on us.”
Lindell is adapting his business model to emphasize direct sales in addition to the stores that still carry his products.
However, he stated that as his business model evolves, so do his Minnesota-based company’s space and equipment requirements.
According to the Star Tribune, he stated, “We kind of needed a building and a half, but now with these moves we’re making, we can get it down to our one building.”
“If the box stores ever came back, we could have it if we needed it, but we don’t need that. It affected a lot of things when you lose that big of a chunk [of revenue].”
My employees and I thank you all for your continued support! pic.twitter.com/jZQpYSUHex
— Mike Lindell (@realMikeLindell) July 8, 2023
More on this story via The Western Journal:
Lindell told WCCO he has kept employees to avoid layoffs.
“I do every customer like my only customer and every employee like my only employee,” he said. CONTINUE READING…