It pains me to say, we might be seeing the final days of Loot Crate. For those that don’t know, Loot Crate is a pop culture subscription box service. You paid for a subscription level and you would get some cool collectables. Over time Loot Crate created special subscription boxes, like an anime crate specialzing in anime items and the Harry potter crate.
Right now Loot Crate has filed bankruptcy. There have been reports of financial trouble going back to 2017. I’m just going to speculate that what lead to some of these financial issues might be Loot Crate couldn’t keep up with demand. This would in turn cost them to lose subscribers. There is a common complaint of subscribers not receiving boxes in time or at all. Also competition is another thing, Loot Crate for a while was the only source. But then you started getting other subscription services popping up and in some cases better items for a better price.
This is not a Loot Crate bashing, this is just feeling sad to learn 150 workers were laid off and similar to Toys R Us layoffs, no severance was given. Ok maybe a little bit of bashing is needed because of that. Regardless it seems like we are at an end of an era, Loot Crate has promised to release remaining crates and maybe looking for a buyer.
How do you guys feel about this news and do you think Loot Crate will find a buyer or completely close their doors forever?