- MyPillow CEO Mike Lindell is organizing an auction of over 800 items, including the equipment used in his Minnesota pillow factory.
- Lindell explained to WCCO that this auction is a response to their large inventory surplus.
- The items up for auction include a van with a cracked windshield, stained ottoman, and Apple iMacs.
MyPillow CEO Mike Lindell has made the decision to sell more than 800 items, including equipment from his pillow factory in Minnesota. This move comes after experiencing a loss of over $100 million in retail sales.
The auction, hosted on K-BID Online Auctions, will conclude on July 18, 2023. A total of 824 items are available for bidding, as indicated on the listing page. Some of the featured items include a 2005 Dodge Sprinter Van with a cracked windshield, Apple iMacs, and a stained ottoman.
Lindell disclosed to WCCO that the surplus auction reflects the shift from traditional retail sales to a direct-to-consumer approach. MyPillow currently holds a substantial inventory, and quick action is necessary to support the continued employment of his staff.
In a Facebook live stream, Lindell expressed his motivation for the auction, stating, “We cannot allow all of this retail stuff to go to waste. Since the retailers have abandoned us, we have decided to auction it off.” He went on to explain that the company had previously required additional equipment for retail packaging and production but had since opted to sublease a portion of their building.
Earlier in January, Lindell highlighted that his claims of election fraud caused MyPillow to endure a $100 million loss in retail sales. As of now, there is no information available regarding the potential sale of other company assets. Insider reached out to Lindell’s team but did not receive an immediate response.
It is worth noting that Lindell continues to face legal battles, including a defamation lawsuit from Dominion Voting Systems and another from Smartmatic, both relating to his promotion of election fraud claims.
In a previous interview with Insider, Lindell stated, “I am willing to spend all my resources and sell everything I own if that’s what it takes,” in reference to his determined effort to overturn the 2020 election results.
Despite these challenges, Lindell remains committed to his business. After major retailers severed ties with MyPillow, the company experienced significant setbacks. Walmart, for instance, announced they would no longer carry MyPillow products in physical stores, although they would still be available online. Similar actions were taken by Costco, Bed Bath & Beyond, QVC, JCPenney, and Wayfair.
In addition, in February 2022, Lindell faced termination as a client by Minnesota Bank & Trust due to concerns over his reputation. This, however, did not deter his spending. Lindell went on to develop his own video-streaming app and social media platform, spending one million dollars monthly on its development.
A year later, in March, Lindell revealed that he had borrowed $10 million in 2022 to ensure the survival of MyPillow.
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