Gunwerks in financial trouble

I don't really think it is WF trying to attack the firearm industry, there are enough warning flags that I would want my investment back as well....on top of what they owe to WF, 622k owed to trade creditors and 365k in unpaid sales tax, they stopped remitting sales tax in Q3 2018....refusing to release financials to your lender and breaking lending agreements? not exactly helping out your negotiating leverage there

sounds like a classic case of an entrepreneur who focused only on growing the product, rather than making healthy financial decisions
 
horseman2 said:
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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But if they were shooting 6.5 Creedmore there would be no misses or wounded game
 
Not surprised really. Small market at the price point they were charging and they are competing against Jarret ,Echols and Lazaroni to name just a few.
Ed Brown bailed out of that market years ago and Legendary Arms tried to bring it back for less money.Legendary now only marketing the 704 action but no longer selling complete rifles.
Plus reality is a lot of production rifles are capable of moa accuracy at far less money.
Weatherby comes to mind if you need the big and fast and accurate in a decent platform.
 
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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That's a very large amount for one company to owe another. And this is only one creditor. If they ower $2.8M to Wells Fargo and they can't collect, I'd imagine they have one foot in the grave, this will prob push them in.
 
They were also selling the notion that anyone could be taking 1000 yard shots at animals so long as they had a GW rifle. I wouldn’t support that idea at any price.


Patrick
 
SHELL SHUCKER said:
As would a tweeked Rem 783. ;)
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I would not call 783s a dangerous game rifle, but there is no questioning their accuracy. I have one in 7mm Rem Mag that I honestly bought only because I fell into a whack of ammo. It is one of the most out-of-the-box-accurate factory rifles I have ever used. Also have owned a couple in 300 Win Mag. Neither one is as accurate as the 7, but both are near sub-moa all the way out to 300 meters on our silhouette range.

Ted
 
Why not? said:
I would not call 783s a dangerous game rifle, but there is no questioning their accuracy. I have one in 7mm Rem Mag that I honestly bought only because I fell into a whack of ammo. It is one of the most out-of-the-box-accurate factory rifles I have ever used. Also have owned a couple in 300 Win Mag. Neither one is as accurate as the 7, but both are near sub-moa all the way out to 300 meters on our silhouette range.

Ted
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And HOW may $$ was that rifle Ted ? :p:d RJ
 
There in is a problem for any company. They lost their financial backer in Wells Fargo.
You have 8 figures in inventory but now rely on cash flow.
Wish them luck but this is not going to be easy.
 
Its the normal course of business. So many manufactures have gotten into the game over the past 20 years. At some point we were going to hit market saturation.
 
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