Mike Lindell’s business is struggling, and as a result of consolidation brought on by a drop in sales, he is being forced to auction off hundreds of goods.
The approximately 850 items that will be sold at the auction on Tuesday range from office supplies to industrial and warehouse equipment.
The equipment had to go, according to Lindell, who has been fighting the results of the 2020 presidential election after his activism damaged his wildly successful MyPillow business.
According to Lindell, who spoke to WCCO-TV, retailers including Walmart and the nearly defunct Bed, Bath & Beyond “canceled” MyPillow.
“It was a massive, massive cancellation,” the CEO said, according to the Minneapolis Star Tribune.
“We lost $100 million from attacks by the box stores, the shopping networks, the shopping channels. All of them did cancel culture on us.”
Adapting his business strategy to concentrate on direct sales as well as those outlets that still carry his products, Lindell is not giving up easily.
However, he claimed that as his business model changes, so do the company’s space and equipment requirements in Minnesota.
“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.
“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
To prevent layoffs, Lindell informed WCCO he had kept his current staff.
“I do every customer like my only customer and every employee like my only employee,” he said.
He claimed that in order to keep some of his employees employed, they had been transferred to other areas of his business.
When the Star Tribune asked if the ongoing legal actions against him had increased his load, he responded, “Of course it has.”
A decision that Lindell should pay $5 million to a software expert who claimed to have refuted some of Lindell’s statements about the 2020 election is currently being appealed by Lindell.
“The $5 million is the lowest one,” he said. “I will be vindicated in every single one.”
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