Hard times for Mike Lindell’s company are forcing him to auction off hundreds of items as a sales slump led to consolidation.
The auction, scheduled for Tuesday, will sell about 850 items, from office equipment to warehouse and manufacturing items.
Lindell, who has battled the results of the 2020 presidential election, said he had to part with the equipment after a ripple effect from his activism rocked his highly successful MyPillow company.
Stores such as Walmart and the all-but-defunct Bed, Bath & Beyond “canceled” MyPillow, Lindell said, according to WCCO-TV.
“It was a massive, massive cancellation,” the CEO said, according to the Minneapolis Star Tribune.
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“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 not giving up without a fight and is adapting his business model to focus on direct sales as well as those stores that still stock his products.
However, he said, as his business model evolves, so do the needs for space and equipment in his Minnesota-based company.
“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,” he said, per the Star Tribune.
Have you ever bought anything from “MyPillow”?
Yes: 85% (72 Votes)
No: 15% (13 Votes)
“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
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.
He said some employees have been reassigned to other parts of his operations to keep them working.
Asked if pending lawsuits against him have added to his burden, he told the Star Tribune, “Of course it has.”
Lindell is fighting a ruling that said he should pay $5 million to a software expert who said he disproved some of Lindell’s claims about the 2020 election.
“The $5 million is the lowest one,” he said. “I will be vindicated in every single one.”
