Loot Crate filed for bankruptcy in August 2019, but have since been handed a lifeline when they were purchased by Joel Weinshanker. That name may not mean much, but Joel Weinshanker is the man behind an empire of pop culture memorabilia, and that empire includes NECA.
The new owners wasted no time in renaming Lootcrate to The Loot Company and one of the first activity after writing to all their subscribers was to offer an exclusive NECA 7 inch Batman figure as a subscriber flash sale.
The new Tec-Shield Suit Batman was touted by NECA back in 2018. It used the existing 7 inch Michael Keaton sculpt, but was painted to pay homage to the original Kenner Tec-Shield Suit figure from the original Batman movie line.
The Loot Company looks to allow NECA to now bring this to market, and that of course also opens up huge opportunities for other NECA niche products - we will watch how Loot Company and their NECA partnership develops.
We wanted to share some important company updates with you:
First, Loot Crate has been officially acquired by Money Chest LLC! Who are they? Well, they’re majority funded by NECA, the company that owns Kidrobot and WizKids.
That’s right, we hit the new owner lottery! NECA has been creating one-of-a-kind limited edition collectibles for years, so they understand our business and, more importantly, what our community wants: unique offerings, on-time delivery, and high quality merchandise. With their support, we can deliver more exclusives to your door on time!
We now also have a new name. Loot Crate is officially The Loot Company!
There’s a lot more to share and we’ve got a ton of exciting new experiences coming your way, so keep an eye out for updates soon!
We Love You,
The Loot Team