Could be a witch hunt... could be factual. The numbers seem extraordinary for a small company to have that much in arrears. I can't imagine the Gunwerks guys being that irresponsible in an industry whereas a glitch in one's character means catastrophic destruction. Or... they could have been set up for failure, which is not too unbelievable. Now, if it were politics or Hollywood they would survive this just fine... maybe even benefit financially from it.
Gunwerks Sued By Creditors
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david g ranes
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i talked to one of the men who worked at greybull precision several years ago asked him why John burns didn't start his own showafter best of the west he told me it cost a minimum of 200,000 dollars a
Year to produce a show that was then you have to have a lot of sponsors to cover that let alone wages travel expense and everything else that goes with it it seemed that they were their biggest sponsor how many guns would you have to produce just to fund their sponsor ship it goes back to producing faster and cheaper can't be that big of market for 10,000 dollar guns I hope they can pull out of it but they are competing with thousands of small gun smiths building guns for less than half the money that shoot just as good they will have to cut expense or sell more I don't think the market is there to sell more just an opinion. David
A lot of information and discussion on this on rokslide
zog
Well-Known Member
Me too. But I'm not sure if that makes me like them or despise them! Ha.
This is only a lawsuit - just big dollar business games and antics. Lawsuits happen all the time, especially in risky ventures like luxury guns. Lawyers on both sides cash in!
Yup, they went into "receivership". Not good! They're suppose to release a statement today! They have to now be worried about their suppliers and those lines of credit drying up, or being called due if they happen to be behind. Usually when something like this happens other creditors/suppliers tighten up as the slope starts getting slippery. Hope they figure everything out as they've brought some very good products, information, and knowledge growth to the sport we all enjoy.
Wells Fargo....should it go any further....
Worst banking record...been ripping people off since the 80's and getting away with it.....a slap on their wrist once....
Just think if all the money inside those banks disappears...put into huge building that eventually become dilapidated..electronics get aged.....and people keep getting ripped off to cover the loss of our monies...
Eat em' up Gunwerks.....
Worst banking record...been ripping people off since the 80's and getting away with it.....a slap on their wrist once....
Just think if all the money inside those banks disappears...put into huge building that eventually become dilapidated..electronics get aged.....and people keep getting ripped off to cover the loss of our monies...
Eat em' up Gunwerks.....
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Wells Fargo is facing a class action right now for shuffling covid loans to prioritize the ones they can charge the most fees for instead of first come first serve as the government said it would be.
Wells Fargo cares about one thing and one thing only, making money. They don't care about you, they don't care about the law, they don't care about anything but cash. We have shown them time and time again that we don't mind them doing it, so they won't stop.
the just finished their fake account scandal nonsense settling up for 3 billion in fines 3 months ago, back at it again.
Wells Fargo cares about one thing and one thing only, making money. They don't care about you, they don't care about the law, they don't care about anything but cash. We have shown them time and time again that we don't mind them doing it, so they won't stop.
the just finished their fake account scandal nonsense settling up for 3 billion in fines 3 months ago, back at it again.
It'll be interesting to see what action the state takes to get their unpaid sales taxes since 2018. Assuming the article is accurate.
crazyhorse
Well-Known Member
Hope everything works out! Ive said before, they were the front runner in making LR hunting go "public" when they came out with Best of the West.
Got to be more than meets the eye...
No one knowing the business like they do would take on that kind of debt hoping to sell enough 10k rifles and accessories to cover.
Got to be more than meets the eye...
No one knowing the business like they do would take on that kind of debt hoping to sell enough 10k rifles and accessories to cover.
david g ranes
Well-Known Member
Buy enough CNC equipment and people qualified to run and buildings don't take long for debt to add up million doesn't go far any more
SteelBanger
Well-Known Member
Aaron said in a different forum yesterday that the unpaid taxes statement is untrue ... will be interesting to see how this all shakes out!
sea2summit
Well-Known Member
Interesting. Someone posted the public records on the hide, they've had various delinquencies since 2016 and are currently delinquent.
SteelBanger
Well-Known Member
Interesting indeed ... can't understand why they'd lie about something like that when it's public record. This could get real interesting real quick!
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