LoveSac Exits Bankruptcy, Shawn Nelson Still an Idiot

For you Arrested Development fans: this stupid picture of Shawn Nelson reminds me of all of episodes involving GOB's stripper policemen friends.

As a disgruntled former LoveSac intern, my overt smugness about their downfall, has been well documented. [Read rants here, here, here and here]

The latest news is that LoveSac is now out of bankruptcy. Apparently, some private investors paid $600,000 for all of the company's assets. LoveSac also downsized - from 78 stores to 20. Through it all, it seems that CEO and idiot Shawn Nelson continues to be just as jerky as ever. Though 58 stores worth of franchise owners and employees are now out of a job, there were still a lot of good things that came out of it. From the Salt Lake Tribune:

"We opened a lot of stores that weren't profitable, but at the same time we were able to build LoveSac into a national brand," Nelson said. "So that expansion really did have both a good and bad side to it."

I bet that's what the now franchise-less franchise owners are saying as well.

So LoveSac continues on, now sure that the company will be saved by its "sactionals." Yes, Nelson continues to believe that people what to go to a beanbag chair in the mall to buy expensive furniture.

While it's still up, I strongly recommend that you check out the following post on Shawn's LoveSac blog. I love that while he is trying his best sound sincere in his apology to all the many folks he's screwed over the years, he still takes the opportunity to plug new products:

"While I live with much regret and sadness for those injured by the Sac, I refuse to allow it to fade into oblivion. Not only are we about to launch some of the coolest new products we EVER have (the PlayerSac, the PillowSac Rocker, and G2 Sactionals-–oh, and also the very cool bar stool-–coming this fall), but more people are buying Sacs than ever."

Though it looks like he is clearly screening what comments are allowed to appear on the blog, I do give Shawn credit for letting a few angry comments slip through:

"Why not have the balls to post the ones that have people call you out for the way it is. Obviously this is an ego blog and a tool to market yourself and not really something that you use to truly reflect other peoples opinions. Also, your apology in the "‘comment section" without my post to let people see what you are responding to or without making it as a main page blog entry is worthless. Just so you know, no one accepts your half ass apologies!" The comment is by a user called "You Know Who," which is very ominous.

Even a LoveSac employee dared to call Shawn out on something I continuously saw during my time with the company, a complete lack of accountability:

"I’ve been working for this company for a little while now, and I’ve read through each and every one of these entries since I first started with the company. I thought it was nice to be able to hear firsthand what you thought about everything. Your prolific apologies and ‘thank you’s remind me of something. “There is luxury in self-reproach. When we blame ourselves, we feel that no one else has the right to blame us. It is the confession, not the priest, that gives us absolution.” - Oscar Wilde, Picture of Dorian Gray. I’ve read your apologies and I listened to every conference call that thanked employees for their continued support. But I’ve never actually seen anyone take blame for everything that happened. I helped close stores. I went out and told staffs that their store was closing, saw managers cry as their store was torn apart and packed in boxes. The entire time, all we heard from you “Thanks, but keep selling or you’ll be next.” I’m well aware that you lost quite a bit in everything that happened. And I respect your dedication and determination. I’m not here to pretend that you aren’t grateful or sorry, I’m sure you are. But maybe it’s time that you started taking accountability and showing gratitude by working with the stores to make them better. You always told us that “We are the brand, we’re the ones making it happen.” I now know dozens of people who “were” the brand and “did” make it happen. I still talk to them. I’m still with the company, and I don’t hear anything from you anymore other than, “Corporate is doing everything right now, so if you aren’t making money, its your fault, fix it.” Where’s the real support and gratitude in that?"

Anyhoo, LoveSac sucked me in again. I've been reading blogs and articles about them for an hour now. I now I've forced it all on you. I offer my most since Shawn Nelson-style apologies. Ha!