Subscription company AllTrue has shut done his virtual doors and gone bankrupt leaving thousands of subscribers without the box they have payed for. And it looks like the CEO’s Brett McCollum and Matt Richardson just don’t give a rats ass.
The worse part: AllTrue kept collecting money from clients and never told customers and vendors it’s shutting down. Many vendors have gone bankrupt because of the unpaid bills. Many subscribers desperately were searching for answers and found each other on Reddit.
The good news
It looks like customers who have payed with PayPal are getting there money back via a simple PayPal claim. 1 reddit user described: “I simply filed a claim via PayPal and received my money back”, posting a screenshot as evidence.
The bad news
The bad news is that vendors who delivered on a 60-day net payment terms will probably never receive their money back. This is a nightmare for new startups like Mintier, which even made a TikTok post about not getting payed by AllTrue.
CEO Matt Richardson seems like a total loser. He did not make a public statement when the company decided to shutter. However, he did confirmed to Forbes last week that AllTrue is in the process of an Assignment for the Benefit of Creditor. “Unfortunately, I’m not allowed to comment further at the moment,” he wrote in an email. “The assignee hopes to have an update soon, at which point there will be more information to share.”
To some it up like 1 Reddit user: AllTrue = All lies.
Sources used: 2 Vendors, 5 Clients, Forbes.com , Reddit.com