Mike Lindell’s once-booming MyPillow business has lost a fortune the past couple of years, and it has forced the entrepreneur to begin auctioning off hundreds of pieces of equipment and subleasing manufacturing space, news outlets are reporting.
Lindell says his Minnesota-based company has lost $100 million after several big-box retailers cut ties with him following his very public claims about the 2020 Presidential election.
“It was a massive, massive cancellation,” Lindell told The Minneapolis Star-Tribune earlier this week. “We lost $100 million from attacks by the box stores, the shopping networks, the shopping channels, all of them did cancel culture on us.”
MyPillow recently listed more than 850 surplus equipment items on the online auction site K-Bid, like sewing machines, industrial fabric spreaders, forklifts and desks and chairs.
The Star Tribune reported that Lindell has not backed down from his claims about the 2020 elections and its results, but that the ongoing controversy has forced major shifts in his business.
“After some shopping networks dropped his products, the company moved to direct sales, shooting new television commercials and trying to boost its presence through email marketing, radio spots and direct mailing,” the Star Tribune reported. Lindell said many hardware stores, including Menards, Fleet Farm and Ace, continue to carry MyPillow products and that he has not been forced to lay off any employees. Some, however, have left the company after they were assigned new roles.
Shawn A. Akers is the online editor at Charisma Media.
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