Tuesday, August 13, 2019

Loot Crate Files for Bankruptcy

Wait, does that say Loot Crate is selling all of its assets to Loot Crate Acquisition LLC? What?

Loot Crate, the worldwide leader in fan subscription boxes, announced today that it has reached a definitive agreement for the sale of substantially all of its assets to Loot Crate Acquisition LLC. To facilitate the transaction, Loot Crate and its affiliates today filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in Wilmington, Delaware. The terms of the agreement will be formalized and submitted to the Court later this week.