Everybody loves to rest on a soft, cushiony pillow after a busy day, and one such company that came as a savior for many Americans for its quality and sustainable pillows is My Pillow. But recently, it has made its way to many prominent news channels for one question: is My Pillow going out of business in 2023?
The company has been the center of a raging storm involving lawsuits, political controversies, and potential closures. It’s the talk of the town, and if you are also in a predicament, then you are at the right place.
As in this guide, we’ve compiled the information that will give you proper detailed information on- is My Pillow going out of business? And help you make an informed opinion about the company.
About My Pillow And How It Started
My Pillow Inc. is an American company that manufactures pillows. It is based in Chaska, Minnesota.
The company was founded by Michael James Lindell in 2009. He launched several small businesses such as bars, restaurants, and a carpet cleaning business.
At first, Lindell hand-sewed the pillows himself and handled all the sales and distribution with the help of his family.
My Pillow took off after its first infomercial in 2011. It was a 30-minute show which was aired 200 times a day and cost $500,000 to produce.
According to Lindell, it became the number one infomercial, and the company went from 5 employees to 500 within 40 days.
Is My Pillow Going Out Of Business?
Once a flourishing company has now found itself in the middle of steaming political controversies and million-dollar lawsuits.
But despite all the struggle, there’s no official statement from the CEO, Mike Lindell, concerning whether the company will shut its doors or not.
Moreover, when the company was already struggling with lawsuits, his legal team dumped him because he owed them millions of dollars, which Lindell could not pay.
At the same time, Lindell confessed that American Express had recently reduced his million-dollar credit line to $100,000, placing his company in a difficult situation when it comes to paying its vendors.
He has lost $250 million in revenue, and he has personally dumped tens of millions of dollars just to prove the widespread voter fraud.
Lindell has vowed to keep the fight going and never settled the massive lawsuits.
On top of this, Lindell vowed to pay $5 million to anyone who could debunk his data regarding the election counts. As a result, a software developer. Robert Seidman successfully proved the claims were wrong, and Lindell was ordered to pay the sum within 40 days.
So, overall, even if there’s no official statement of its shutting down, it’s only a matter of time before it does.
Why Are Stores Not Selling The Products Of MyPillow?
Due to the political controversy, a lot of companies have confirmed not to sell any kind of product from My Pillow.
According to Newsweek, Michael James Lindell is an ardent supporter of Donald Trump and has claimed that it was the faulty machines due to which Trump lost the elections.
Lindells’ baseless accusations are the main reason why the company is struggling. Despite all this, the founder is adamant in his statement, further making its retailers stop their business with the company.
Among these, there are some big retailers such as Costco and Walmart. Costco broke its ties with My Pillow in 2021, saying that it no longer wants to work with companies that promote conspiracy theories.
And recently, Walmart also announced it is going to remove all the products of My Pillow from their offline stores.
Not only this, but the customers are also not satisfied with the products of My Pillow. According to Walmart’s website, customers gave a rating of 3.3 stars on the classic bed pillow.
The company lost popularity among regular Walmart customers. This made the retailers cut ties with My Pillow.
What Are The Reasons For Downfall Of My Pillow?
The CEO and the founder, Michael James Lindell, is a prominent supporter of former President Donald Trump, which led to the downfall of the company.
Not that supporting any political leader is bad, but promoting without scrutinizing the facts and truth is wrong. The same happened with My Pillow.
In the 2020 United States presidential elections, My Pillow actively supported Donald Trump or the Republic Party.
Due to the defeat of Donald Trump, the former president started falsely accusing Dominion Voting System Inc. that it rigged the elections with its faulty machines.
With the false accusation, My Pillow also started to echo the false claims made by Donald Trump.
As a result, the sales of My Pillow increased exponentially. In 2020, the annual sales of the company were around $100 million, which increased to $320 million in 2023.
However, this didn’t last long. Due to the false accusations, Dominion Voting Systems Inc. sued My Pillow for $1.3 billion as compensation for spreading misinformation.
So, despite the increased sales of $320 million, it has to pay more than a billion dollars. This lawsuit will soon sink the company alone.
Who Is The Current Owner Of My Pillow?
My Pillow was founded in 2009, and soon, it became a famous company that has a vast net worth and highest product-selling milestone within a couple of years.
The company was founded by an American reputed businessman named Michael James Lindell. He is best known as My Pillow Guy and a prominent supporter of the U.S. former President Donald Trump.
Despite several lawsuits and being on the brink of collapse, Michael James Lindell remains the CEO and owner of My Pillow.
What Is The Net Worth Of Mike Lindell?
| Net Worth Timeline | Amount |
|---|---|
| Mike Lindell Networth In 2023 | $40 million |
| Mike Lindell Networth In 2015 | $72 million |
| Mike Lindell Networth In 2010 | $51 million |
| Mike Lindell Networth In 2005 | $22 million |
| Mike Lindell Networth In 2000 | $6 million |
Can My Pillow Return Back To Its Business?
My Pillow has already endured enough damage that it is now on the brink of demolition. Therefore, the company cannot get back on its track.
However, it has many strategies that can help it stop itself from liquidation. Also, despite the fact that the company has promoted controversial statements, it has also done some philanthropy such as:
- Creating job opportunities by expanding its business in other countries.
- During the COVID-19 pandemic, the company has donated about 75% of its cotton face masks to the healthcare divisions.
- In March 2015, My Pillow donated pillows to Sandra J. Schulze, American Cancer Society Hope Lodge.
- It also donated 60,000 pillows to the victims of Hurricane Harvey in Texas.
Not only this, but the company also takes pride in its products that it has also manufactured tags for its products like “Proudly American Made.”
Conclusion
Is My Pillow going out of business?
The straight answer to this question is No! My Pillow is not going out of business because there is no official statement from its founder and CEO, Michael James Lindell.
However, the company is on the brink of bankruptcy due to the false accusations made by Lindell. These false accusations are the main reason why the company is struggling.
Moreover, a lot of retailers have also stopped selling any kind of products of My Pillow. So, overall, currently, the company is not going out of business, but it’s only a matter of time before it does.
FAQs
Was Lindell Also Sued By House Select?
Yes, Lindell has also been sued by House Select. So, it’s not only Dominion Voting and Smartmatic that has sued the founder.
How many years does My Pillow lasts?
A quality pillow is crucial for sound sleep, but a pillow doesn’t last forever. Generally, it is recommended to replace the pillow every one to two years.
In how many years should I replace my latex pillows?
Latex pillows are known for their comfort and longevity. A latex pillow can offer support for up to 5 years.