Camp Reaches Out to Customers for Help Amid Financial Difficulties Caused by Silicon Valley Bank Collapse

Camp, a venture-backed retailer based in New York, is facing financial difficulties due to the collapse of Silicon Valley Bank on Friday. In an effort to stay afloat, Camp sent an email to customers on Friday announcing a 40% discount on all merchandise with the code “BANKRUN”.

In the email, Camp co-founder Ben Kaufman urged customers to take advantage of the discount and help the company stay afloat. He also warned customers that the collapse of Silicon Valley Bank was causing delays in processing payments.

Etsy, an online do-it-yourself goods mega shop, also sent an email to sellers warning them of the delays in processing payments. The company said it used SVB to facilitate disbursement to some sellers, and that it was working with other payment partners to issue deposits.

Camp is not the only company affected by the bank failure. Many other companies are facing similar financial difficulties and are relying on customers to help them stay afloat. It remains to be seen how the situation will play out in the coming weeks and months.