If you are an e-commerce customer of Volusion, you probably know that the law firm Jackson Walker LLP on behalf of Volusion has filed for Chapter 11 reorganization bankruptcy on July 27, 2020. You can get details here
So how could this affect your store?
Well here are two quick facts about businesses who have filed Chapter 11 within the last few years
(1) The percentage of companies who “emerge “from bankruptcy status within the last 20 years is minimal. Reports and studies indicate that about 10 to 15% of Chapter 11 cases result in successful reorganizations.
(2) Most cases are dismissed (often by agreement of the parties) or converted to Chapter 7 liquidations. Many chapter 11 bankruptcies proceed to a sale of assets.
Will Volusion survive Chapter 11 or will its assets (possibly you) be sold to another company?
If it “emerges” from reorganization, will that mean higher rates?
A Reddit thread with the topic ‘Volusion Bankruptcy’ already has a comment from a store owner who recently had a rate increase of 700% after six years on the platform. While the majority of complaints at pissedconsumer.com are not just rate increases nor lack of customer service, the majority of the reviews are accusing Volusion and their subsidiary credit card processor of theft, the others are saying shady ethics, lies and broken promises
Most customers experience no service disruptions during Chapter 11, a matter of fact most customers do not even find out that the provider has filed for Chapter 11 until an announcement is made by the provider or in the case of a sale by the new owner.
Only one thing is sure, Volusion customers have been migrating their stores to other platforms for a few years now. Many stared moving to speedier platforms like Shopify or BigCommerce with more advanced features after noticing steady drops in SEO rankings and conversions from 2018 and onward Others started the search for a new provider in October 2019 after over 6500 stores using Volusion became unwitting accomplices to their clients’ credit card information being stolen and sold on the dark web after the data breach.
Ask yourself since the year 2020 has become the “year of uncertainty” should you
(A) Continue on the Grandfather of e-commerce platforms (v1)
(B) Get some but still not enough e-commerce features to beat competitors and move to their new offering Volt (v2) when you can
(C) Migrate now while online shopping is hot and potential customers are looking for new shopping destinations so you can offer them 21st century features shoppers demand like responsive websites instead of the Volusion built-in mobile site which you already know is not that great.
If you decide to migrate – which platforms offer the features that shoppers expect and demand in 2020 and beyond?
BigCommerce is a hosted platform for e-commerce that fits the business needs of all business sizes. With hundreds of built-in features ready to use, BigCommerce sites are mobile responsive, great for SEO, and have never experienced a security breach. BigCommerce client support is first-class problems are acknowledged; solutions are offered and you will always feel like your business is appreciated no matter how big or small your business is.
Expected to become the second-largest e-commerce platform in the US by 2020, Shopify is a popular platform among the SMB’s looking to get into e-commerce immediately. It offers turnkey e-commerce solutions with ready-made templates, third-party apps, payment, and fulfillment capability.
While keeping up with current e-commerce trends, the plug-in, theme, and template module of WooCommerce cater to the needs of all – small to enterprise-level businesses. The custom solution offered by WooCommerce helps provide a better User Experience for visitors.
Magento 2 is an open-source platform for e-commerce store development. With full B2B and B2C capabilities, Magneto’s mobile-first architecture, advanced reporting, and SEO features make it the most preferred platform by merchants. Want a feature not offered or native to other platforms? Magento is fully customizable-if you can dream it, the talented, certified Magento developers at ioVista can achieve it with this platform.
Connect with the e-commerce specialists at ioVista to learn more about the migration of your Volusion store with zero data or SEO loss.