Loop Global LLC is in apparent financial distress according to some representatives and employees who have not been receiving commission payments for the past two years. They had a major restructuring in January of this year, where they changed their CEO and released most of their top management. New CEO Zack Martin has not been available for comment. The company also relocated their headquarters to Nevada from California in an effort to cut costs. Loop, Inc. closed shop in California.
They're currently in Nevada and have been found to be "Converted Out."
Even with the multiple funding rounds that they have received, they are struggling to move inventory and have had major turnover in their workforce.
Unsure about their ability to survive in this highly competitive and challenging business segment that has seen hundreds of new companies enter the space.