I never expected to be in this situation. I know this answer will not be of any comfort to you and I am very sorry for that. If this circumstance changes, you will receive further communications to ensure you are properly advised. While I have pursued all efforts to find a way to pay the amounts owed to you, or to have another company in the secondary gift card industry assume and pay the obligations owed to you as part of a transaction, at this point my efforts have not been successful. I am sure you are wondering what will happen to the debt owed to you by. We were in the process of exploring other options to salvage value from the business before this action from our creditor brought everything to a halt and forced our closure. Since November 2015, we have been working with an investment banking firm to find a strategic partner/buyer for the company but those efforts ended in June 2016 without success. While our business has experienced rapid growth over the last year, our effort to secure additional capital to finance the growth has been a challenge, resulting in reduced margins and losses. As one of the pioneers of the secondary gift card industry, it breaks my heart to see a business I have worked so tirelessly to build over the last 8 years come to a sudden end, with payments owed to customers like you. I sincerely regret this outcome and any possible impact to you. Without access to our operating account, we had no choice but to shut down. With that judgment, they placed a hold on our business bank account, depleting all the funds in our account. Our company was forced to shut down last week when a lender to the company (with whom we have been trying to negotiate a temporary forbearance) went to court and got a judgment against our company. Unfortunately, I regret to inform you that has closed down effective July 15, 2016. JTo our Customers: You are receiving this letter because you sold gift cards to recently and are awaiting payments on those gift cards. After 2 months of trying to get paid for a gift card I sent.
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