Loot Crate Subscriptions Update!

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Notification

Loot Crate is being acquired by Money Chest LLC, a former investor in a chapter 11 bankruptcy restructuring. Loot Crate contends that they will now have financing for their daily operations and to fulfil past orders.

NOTE: All of Loot Crate subscription boxes are experiencing substantial delays. If you subscribe now you run the risk of never receiving boxes. Only subscribe if you are ok with that risk. 

Here’s the full announcement:

Hey Looter,

I am writing you with news – Loot Crate is being acquired. Our proposed buyer Loot Crate Acquisition LLC is an affiliate of an existing investor, Money Chest LLC who is providing us with immediate financial support.  They know our company well – they have invested in Loot Crate in the past and have been a great partner.

As part of the sale agreement, Loot Crate filed for chapter 11 reorganization. The purpose of the chapter 11 filing is to facilitate the sale of the business and position the company to achieve the delivery times and customer experience you deserve.

You, the Looters, are our top priority. Our existing investor is providing us with up to $10 million in new financing which allows us to continue our daily operations and we intend to fulfill your subscriptions. Look for updates on deliveries soon.

As you are a big part of our Looter family, you will be receiving more communications from us during the sale process.  Our goal is to fulfill the promises made to you, and we will be updating you with shipping and delivery dates as soon as we have them.

For information on the process and to answer some questions you might have, please see the FAQ below.

We appreciate your continued support.
Team Loot Crate

LOOTER QUESTIONS AND ANSWERS

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.

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. Toll free (877) 272-4403 or for international callers (949) 229-3562.

We also have the latest Loot Crate subscriptions shipping update – with delays going back as far as January 2019 or further.

Here’s our current policy on Loot Crate spoilers, reviews, and shipping delays:

  • We will continue to post reviews of any boxes that do arrive.
  • We will continue to post spoilers and other notifications of Loot Crate activity. This helps to preserve our workflow and creates a record. They will not appear on the front page of Hello Subscription.
  • All posts regarding Loot Crate will contain the below notice, linking back to this post:

NOTE: All of Loot Crate subscription boxes are experiencing substantial delays. If you subscribe now you run the risk of never receiving boxes. Only subscribe if you are ok with that risk. 

  • For the time being, we will not be posting any new posts regarding coupons and other sales from Loot Crate.
  • It should be further noted that Loot Crate core crate no longer promises a shirt in every box. Additionally, many crates are including past items in the boxes.
  • Individual subscribers may experience delays in excess of what’s noted here, especially for the Loot Wear subscriptions.

Here’s a summary of the latest shipping updates on active and cancelled Loot Crate subscriptions:

Active Subscriptions:

Loot Crate: “On Time” (No delay reported yet, expected soon).

Loot Crate DX: June and July 2019 crate delayed. June 2019 crate shipping is scheduled this September, while July 2019 crate is shipping by the end of August. Read more info here and here.

Loot AnimeApril, May, and July 2019 crate delayed. Shipping scheduled by the end of August. Read more info here and here.

Loot Gaming: June and July 2019 crate delayed. Shipping scheduled by the end of August for both crates. Read more info here and here.

Loot Socks: May, June, and July 2019 crates delayed. May and June 2019 crates are expected to ship late August, while July 2019 crate is expected to ship by end of October.

Loot For Her: AprilMay, June, and July 2019 crates delayed. April 2019 is scheduled by the end of July. May and June 2019 crates are expected to ship in September, while July 2019 crate is expected to ship by end of August.

Loot TeesApril, May, June, and July 2019 crates delayed. April and May 2019 crates are expected to ship end of July, June 2019 crate is expected to ship by end of August, and July 2019 will be by the end of September.

Loot Undies : January to July 2019 crates delayed. January to May 2019 crates are delayed with no ship date, June 2019 crate is expected to ship by end of August, and July 2019 crate is scheduled to ship by the end of October.  Read more info here.

Loot Wearables: April, June, and July 2019 crates delayed. April 2019 crate is expected to ship mid August, June 2019 crate is expected to ship by end of September, and July 2019 crate will ship early September.

Loot Remix: On Time

WWE Slam Crate: June 2019 crate delayed. Shipping scheduled by August. Read more info here.

Fallout Crate: June 2019 crate delayed. Shipping scheduled by mid-late August. Read more info here.

Hello Kitty and Friends: Summer 2019 crate delayed. Shipping scheduled by the end of July. Read more info here.

Deadpool Club Merc: Summer 2019 crate delayed. Shipping scheduled by the early August. Read more info here.

Sci-Fi Crate: First Crate shipping this August 2019.

Equip by Loot Gaming: First Crate shipping this Q3 2019.

Rick and Morty Crate: First crate delayed. Estimated shipping is on October 2019.

The Elder Scrolls: First crate delayed. Estimated shipping is on September 2019.

Limited Edition Crates:

Lord of the Rings Crate:  First and crate delayed. Crate 1 estimated shipping is on mid-late August 2019, and Crate 2 on mid-late September. Read more info here.

Adult Swim CrateSpring crate delayed. Estimated shipping is on September 2019.

Batman 80th Crate: Shipping scheduled this Winter 2019

Marvel 80th CrateShipping scheduled this Winter 2019

My Hero Academia: Shipping scheduled this Winter 2019

Cancelled Crates:

Star Trek Mission Crate: Subscription cancelled last January 2019. Read more info here. [Note that we never received an email about refunds.]

Firefly Cargo Crate: November 2018 to March 2019 delayed. No update since January 2019.  Read last info here.

Halo Legendary Crate: June 2019 crate delayed. Shipping scheduled by the end of July. Read more info here. Subscribers have until 8/12 to cancel before they are subscribed automatically to Equip by Loot Gaming.