Mike Lindell, the CEO of MyPillow, is navigating a financial crisis. He reported a sudden action by American Express that has placed a substantial burden on his business.
“We really need everybody’s help right now. We have things going on I’m going to let you all know this week,” Lindell disclosed on Steve Bannon’s “War Room” Rumble show. He detailed the unexpected move by American Express: “Out of the blue they took our credit line from a million dollars down to $100,000, just cripples MyPillow.”
Further, he added that the credit card firm lowered the line for “no reason” and “no explanation was given, adding it just dropped it down last Tuesday.” This abrupt reduction in the credit line has left MyPillow grappling with financial constraints, impacting its ability to maintain operations and continue sales.
Discussing the broader impact on his business, Lindell highlighted substantial losses MyPillow has faced: “It was a massive, massive cancellation,” he conveyed to the Minneapolis Star Tribune in July. “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 continues to face the financial repercussions of the credit card company’s decision, navigating the challenges and obstacles presented by this development. The future of the company remains in uncertainty as it deals with the financial strain and continues its operations amid these difficulties.
In addition to the financial strain caused by the credit card company’s decision, Lindell and MyPillow have faced other challenges. Several retailers have stopped selling MyPillow products, contributing to significant revenue loss for the company. These measures are likely in response to Lindell’s support for former President Donald Trump, and Lindell’s political stance has led to a backlash against him and his business ventures.
Scroll down to leave a comment and share your thoughts.
