MyPillow, the Minnesota-based manufacturing company, is auctioning off hundreds of pieces of equipment and subleasing some manufacturing spaces amid what CEO Mike Lindell calls "a massive, massive cancellation," as reported by The Hill.
What Happened: Lindell, a staunch supporter of former President Donald Trump, stated that MyPillow lost $100 million due to “attacks by box stores, the shopping networks, the shopping channels, all of them did cancel culture on us.”
This follows Lindell’s continued claims that the 2020 presidential election was stolen from Trump, leading several retailers, including Walmart Inc WMT, Bed Bath & Beyond BBBYQ, and Kohl's Corporation KSS, to pull MyPillow products from their shelves.
Why It Matters: Lindell’s controversial stance on the 2020 election has had significant repercussions for his company.
Lindell’s phone was seized by the FBI, and he is currently facing a $1.3 billion defamation suit from Dominion Voting Systems. The lawsuit claims that Lindell’s accusations of fraud, election rigging, and conspiracy have hurt the company's brand.
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