Gunwerks in financial trouble

If one needs more sales, they should try to price products at a level that will facilitate that.
 
So 10k for a CNC’d piece of well marketed steel is not a good business model? Too bad, good entrepreneurs are usually the worst at building a business successfully.

Patrick
 
Someone will step in and grab it. For a portion of the $2.8million owed you can have the company. The brand name is well established. They sell quality.
 
The last thing one needs on a serious dangerous game rifle is a $1500 scope. :) Low powered Leupold 3X or 1.5-4X20 have worked for the past 40 years or so everywhere in the world.

Having said that, there's nothing wrong with spending that amount if you want to.

Ted
 
blargon said:
Apparently they don't sell enough quality to pay the bills...:)
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Or Wells Fargo decides that they all of a sudden didn’t want a firearms business in their credit portfolio. And didn’t renew the loan. In the middle of a covid lockdown where Gunwerks was unable to find an alternative.
 
The market is saturated with sub $2k guns. They had a niche. Were good at it. I’m not sure anyone here has seen their accounting but $2.8 mil doesn’t sound like an insurmountable amount of debt.
 
Buckmastr said:
Or Wells Fargo decides that they all of a sudden didn’t want a firearms business in their credit portfolio. And didn’t renew the loan. In the middle of a covid lockdown where Gunwerks was unable to find an alternative.
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Looks like they were having troubles starting in 2018...


Besides what the company owes to Wells Fargo, the complaint said Gunwerks financial report in February told the bank that it owes more than $622,000 in past due bills, according to the complaint.

Likewise, the financial officer told the bank that Gunwerks stopped paying sales tax in the third quarter of 2018 and the amount due was $365,000, according to the complaint.
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Buckmastr said:
The market is saturated with sub $2k guns. They had a niche. Were good at it. I’m not sure anyone here has seen their accounting but $2.8 mil doesn’t sound like an insurmountable amount of debt.
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It doesn't seem like a lot really, and you would think they could find a another creditor. Some people are extremely good craftsmen, but terrible business people.
 
Sad to see any gun maker close it's doors, but I can see why. There is a really limited market for people that want to spend that amount of money on a firearm of that style. There are a number of very capable gunsmiths that can assemble the same type of parts to your exact configuration for less than half the price of a Gunwerks rifle.

Of course, they did just bring out a 375 Ruger LRP rifle, so they obviously had some great ideas.

Maybe introducing the NEW KING rifle is what finally sank them. hahaha Laugh2
 
While their 1000 yard rifles made some good TV it was not everyone's forte at $10,000.

Their Long Range University did not show all the shooters just like the TV shows did not show all the missed shots nor wounded animals that got away.

One missed shot for $10,000 is worth no more than a missed shot at 400 yards with a $1000 rifle.

TV shows showing missed shots and wounded game does not sell rifles especially after making the production then having to pay to advertise your own products.
 
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