It is with great sadness that we must announce the closing down of Craftisio, Inc. (FKA L33T Gaming Inc.) and its related entities, KnitCrate LLC and Dyer Supplier LLC (together “the Company"). The pandemic and ensuing supply chain issues negatively affected the company. Inventory and shipping delays hurt its ability to operate and, ultimately, the customer experience. The current economic climate, with rising inflation and the prospect of a severe recession, has impacted customer demand across the industry. The company was put in a position where it could not cover its operating expenses nor meet its debt obligations.
Because of this, the company has been forced to cease operating, immediately close its doors, and surrender all assets to its senior secured SBA lender, which has a 1st position blanket lien on all company assets. The $1.45 million balance outstanding on their note is immediately followed by the SBA with another $1.5 mm note outstanding and a blanket lien on all assets as junior lender. The business is closed, all assets surrendered, and operations have ceased, making the company completely unable to pay creditors. The company has no activities and no employees, so it will not be possible for the company to respond to any further inquiries.
The company attorneys are handling the dissolution of the business and will be filing such dissolution at the appropriate time.
We are very saddened and sorry about this development.
Sincerely,
Craftisio, Inc., KnitCrate LLC and Dyer Supplier LLC
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