![]() In 2016, the company was ranked #1 on Inc's Fastest Growing Private Companies and on the Deloitte Fast 500 North America list. By 2014 the company had over 200,000 subscribers in 10 countries. “I would just caution people to think about if this is something they want to support after how they treated the vendors and their customers,” she adds.Loot Crate was founded in 2012 by Chris Davis and Matthew Arevalo, who aimed to create a " comic-con in a box". In the end, she was only able to receive a $30 charge-back for an add-on product she ordered in addition to her spring subscription box.) (She canceled her subscription in June when she found out about Alltrue’s insolvency and disputed the charges with her bank, Wells Fargo. “I wouldn’t sign up again just because they didn’t announce they were going under and I just don’t think they’re being very honest,” says Bella Diecidue, a 28-year-old social media strategist from Arlington, Virginia, who previously shared a $200 annual subscription with her mother. At least some, if not many, likely won’t. Whether customers will come back is unclear. Last year, Alltrue claimed to have 300,000 subscribers, each paying between $50 and $55 per box. The company cultivated a tight-knit community of subscribers who discussed, sold and traded their items in Facebook groups and other online communities. “I’m just trying my best to recover.”Īlltrue was founded in 2014 as Causebox (it rebranded in 2021) by childhood friends Matt Richardson and Brett McCollum. Lavie was forced to close her office and lay off her two employees nearly a week after Alltrue shut down. For a small business, that’s a huge setback. Sandra Lavie, founder of LUCE Beauty, says she lost $244,000 on nearly 26,000 units of unpaid electric facial cleansing devices. “Alltrue relaunching and using unpaid merchandise as they launch is certainly salt in the wound,” Boellner says. Boellner and the other vendors are working together to consider possible legal action. The third party liquidating Alltrue never responded to them. Alex Boellner, head of operations at jewelry company Sterling Forever, says he and other vendors still haven’t been paid. At the time of the ABC filing, Alltrue owed at least 21 small businesses $2.26 million for 209,000 units of product meant to be featured in their subscription boxes. In this case, a single buyer appears to have scooped up Alltrue in one piece to relaunch it. “The supply chain headwinds and economic conditions created an unsustainable operating environment,” said the new owner in a recent Instagram post.ĭuring an ABC, a third party liquidates a business’ assets in order to pay its creditors. Furious customers who were left on the hook for orders they never received took to Reddit and Facebook to air their grievances. While troubles had obviously been brewing for months (it raised prices in January due to rising logistics costs), Alltrue’s unraveling came to light in April when it began an out-of-court process called an Assignment for the Benefit of Creditors, a voluntary alternative to formal bankruptcy, because it was unable to pay its debts. It’s unclear if he’s planning to rename Alltrue or if Dreambox is a separate venture. Hibbard, who sent a similar statement via Linkedin, also registered Dreambox LLC on Saturday, according to Secretary of State records. “Retention Brands is committed to improving on-time deliveries and maintaining financial stability.” “Retention Brands believes strongly in Alltrue’s mission, community and unique approach to sourcing and curation,” he wrote. Retention Brands partner Chris Davis, the former CEO of Loot Crate, confirmed in an email that Retention Brands acquired Alltrue. ![]()
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