Black ovis/camofire going out of business?

[gman82001]

Saw something saying that Hush bought them out.

Oh god

 

[Hnthrdr]

Saw something saying that Hush bought them out.

 

[chanson_roland]

I can't help but find this curious. They had to move a ton of merchandise.

I'm inclined to believe that they got bought out but the abrupt nature is what I find odd.

From my experience, the abrupt nature points to negative working capital/cash flow that they just realized they can't recover from, and or a last ditch loan/cash infusion not coming through.

IF that's the case, they need to shut their doors and stop operating so that they can meet their unemployment notice obligations, taxes, etc. from whatever capital they have left.

If it were a merger, this would be a really janky way to go about it. No messaging, nothing from the acquirer, nothing to reassure customers their orders will be fulfilled, etc.

Shame. I've bought a fair bit of stuff from them, and also dropped into the store on my last elk hunt. Hope the employees all land well.

 

[NRA4LIFE]

I gave up on Camofire when they wanted to charge me $12 for shipping on a $7 item. I said no thanks. I called to complain and they basically told me to pound sand.

 

[Big_wals]

Bummer. I was thinking about ordering some merino from them the other day, but decided I didn’t need any more till next season. You snooze you lose I guess

 

[roosiebull]

Seems crazy to me, I would think they were more well off than most, curious to see how this plays out but hope it’s not just poof

The mesa hoodie is a badass shirt in cold weather and I only have 2

I have bought a lot of stuff from both companies

 

[TandKHunting]

From a business perspective, I think it's a major challenge to offer large discounts on products you are probably getting 25-40% gross margins on when sold at full price.

Doesn't leave much room for growth or sustainability, especially with the presence of Midway, Scheel's, Bass Pro, etc.

 

[awbowhunter]

Damn! All I wear is the Ovis merino undies. Have lots of the merino tops too. Gonna suck having to wear fruit of the looms if I wear them out.

 

[Peerless]

Very unforunate. I really enjoyed a bunch of their clothing.

Merino wool, their tech pull overs, their wind jackets, hats, etc....

 

[jayhawk]

I can't help but find this curious. They had to move a ton of merchandise.

I'm inclined to believe that they got bought out but the abrupt nature is what I find odd.

Same here. Surprised they didn’t have a going out of business sale or anything

 

[chanson_roland]

From a business perspective, I think it's a major challenge to offer large discounts on products you are probably getting 25-40% gross margins on when sold at full price.

Doesn't leave much room for growth or sustainability, especially with the presence of Midway, Scheel's, Bass Pro, etc.

Yup. Even if you're bringing in revenue every month, by the end of the 3rd quarter, if you're negative cash flow, it's gonna catch up to you eventually. If there's a decrease in revenue or an increase in input costs, that'll accelerate. One day, the magic spreadsheet has a cell that just goes deep red and it's game over.

Hopefully they have a big warehouse sale if this is all true. Wouldn't mind coming into SLC to grab some bargains, plus there's a great birria taco place not too far away...

 

[199p]

They where the only place I could get shipped international USA crispy boots. As the nz offerings even in there wide dont fit my custom inner soles.

 

[Hnthrdr]

Same here. Surprised they didn’t have a going out of business sale or anything

That’s what’s odd to me, if it was chapter 11, there should have been a lead up to closing doors. This abruptness about it is odd.