Razorgator has gone bust and is working its way through the “formal insolvency process,” with David Johnson from Sherwood Partners helping wind down the company. It’s unclear how many brokers are owed money by the marketplace — it’s thought to be far smaller than the Scorebig bust of 2016 — but as they did with Scorebig, consolidation firm DTI has announced plans to cover losses for its members who have outstanding invoices from the company.
“One of the many benefits offered through DTI membership is protection from these types of risks and uncertainties,” a Feb. 28 letter to members reads. “We take great pride in the fact that not a single dollar of DTI member money was lost during ScoreBig’s shutdown last year, and will follow the same approach in this instance to ensure members received full payment for all RazorGator sales, independent of DTI’s ability to collect payment from the marketplace itself.”
Razorgator fired its staff, locked its doors and brought in a financial team to sort through the finances of the ticketing firm that had once been considered a rival to StubHub but has seen its success greatly diminished in recent years.