The COVID-19 pandemic has continued to ravage through StubHub, who announced that they were unable to provide “immediate cash refunds” to ticket holders who had their events postponed or cancelled due to COVID-19 back in March. As the company continues to face even more financial struggles, StubHub has announced that they are closing several international offices.
According to Digital Music News, the company will be closing offices in Mexico, Brazil, Japan, Hong Kong, and South Korea. The company will be maintaining its offices in Europe, however they will be initiating some staff cuts. StubHub reportedly furloughed 67 percent of its workforce already, although the European cuts are expected to be minor.
The company is already in the midst of a $5 million class-action lawsuit over coronavarius refunds, after a man sued the company following a suspended NHL game. Several MLB fans have also sued the company in a similar class-action lawsuit.
“We are facing significant timing delays in recouping funds from the thousands of sellers on our platform, and expect these challenges to continue in the coming months,” former StubHub President Singh Cassidy wrote in an email at the time of this NHL suspended ticket refund lawsuit.
StubHub isn’t the only ticket retailer that has been hit hard over coronavirus, Ticketmaster garnered criticism for allegedly changing its refund policy during the pandemic, although they later issued refunds for postponed performances. Venues and ticket vendors across the country are likely to continue facing losses well into next year, as concerts aren’t expected to return at full capacity until at least fall 2021.