The new owner has plans to completely shut down operations in November, and the head of HR is lying to employees about the future of company. No severances will be available, and going bankrupt enables the owner to walk away with the money and not pay vendors OR the retention bonuses that were given to select employees.
The River is DRY.
Small merchants using MyCommerce have their contracts with a GmbH (limited liability company) in Germany, there are no class action lawsuits under German law and the German GmbH now is a shell company without any executives with any in country accountability. Barry K. found an ideal setup to play with.
My sources in the finance department of Digital River unfortunately confirm this information. Bankruptcy will be announced at the end of November. The company's management is paying out multimillion-dollar bonuses and settling debts with its major clients, such as Autodesk and Adobe. All the money from small merchants using MyCommerce has long been in Latin American banks. Goodbye, Digital River.
Class Action lawsuit headed their way. Barry K. will find a way around it. It’s what he does.
It is done. We haven’t paid vendors since July. Finance and Treasury doing unethical stuff.