Black ovis/camofire going out of business?

[AZ8]

In Chapter 7, inventory is an asset and must be sold to pay creditors. So maybe there will be huge 75% off sale somewhere! lol Stay tuned!

 

[pods8 (Rugged Stitching)]

In Chapter 7, inventory is an asset and must be sold to pay creditors. So maybe there will be huge 75% off sale somewhere! lol Stay tuned!

Can't say that I'm cheering to buy discounted goods that the suppliers were never paid for so that other creditors can be paid. It's basically cheering to buy cheep stolen goods.

If they return all unpaid for inventory to the suppliers (who want it returned) and sell off all paid inventory that is a different matter. But for instance buying an Aziak item that Aziak was never paid for isn't cool imho.

 

[Justin Crossley]

So if Kendall sold years ago…

Who actually owns it now ?

They are a sponsor so I assume you guys know who purchased them ?

The only guys who may know something are @Ryan Avery and @robby denning but they are both hunting so it will be awhile before they can respond.

They also may not have any info either as we are not kept in the loop on everything the sponsor businesses are up to.

 

[wapitibob]

I would hope the bankruptcy judge will make them pay back their severance.

 

[Jimmy]

I have been on the side of shipping over 100K in product to a company that went bankrupt. Not only did we never get back 60k they still owed, but the over 40k that we did get paid we got taken to court to send back to be divvied up among other people who were owed money.

The items were already all sold or thrown away(perishable), it wasn't some product that we could get back.

I wouldn't blame the public for buying up what is available. It's the company and the bankruptcy process that screws people over.

 

[AZ8]

Can't say that I'm cheering to buy discounted goods that the suppliers were never paid for so that other creditors can be paid. It's basically cheering to buy cheep stolen goods.

If they return all unpaid for inventory to the suppliers (who want it returned) and sell off all paid inventory that is a different matter. But for instance buying an Aziak item that Aziak was never paid for isn't cool imho.

I get that. Wasn’t making light of anything. Unfortunately, that’s how Chapter 7 works and someone gets screwed. One could pursue damages, but attorney fees could end up being more than what BO owes you.

Our family owned two business and we had to walk away from $$ vs hiring an attorney. Sometimes you have to cut your losses. It sucks.

 

[pods8 (Rugged Stitching)]

I get that. Wasn’t making light of anything. Unfortunately, that’s how Chapter 7 works and someone gets screwed.

It was the exclamation point and lol in your statement that came off poorly what I read it to me.

 

[SMOKYMTN]

As an example, I called Crispi yesterday to see if they knew anything since Kendall was/is involved/owner of both. Turns out Kendall sold his stake in both Crispi and BO several years ago, and BO just received a MASSIVE shipment of boots from Crispi last week (per the guy I spoke with yesterday). Crispi had no idea and found out on Facebook just like so many other people. It sounds like they’ve got some decent inventory of at least some products.

From looking at the documents:

Crispi is listed as a creditor, being owed $370,000.

They owe Muley Freak $144,000.

Sitka is owed $509,000.

Rokslide is owed $599.

Interesting of note, Kendall Card is listed as a creditor, being owed $500,000.

 

[AZ8]

It was the exclamation point and lol in your statement that came off poorly what I read it to me.

ok

 

[SMOKYMTN]

So if Kendall sold years ago…

Who actually owns it now ?

They are a sponsor so I assume you guys know who purchased them ?

The company was listed as Camofire Holdings Inc. I'm sure a simple search on the Utah Secretary of State page could bring to light who it was registered to.

 

[aMurderOfCrows]

From looking at the documents:

Crispi is listed as a creditor, being owed $370,000.

They owe Muley Freak $144,000.

Sitka is owed $509,000.

Rokslide is owed $599.

Interesting of note, Kendall Card is listed as a creditor, being owed $500,000.

That is a lot of money.

 

[SMOKYMTN]

That is a lot of money.

There was a lot more, I think all in all it totaled over $4 million

 

[aMurderOfCrows]

There was a lot more, I think all in all it totaled over $4 million

Wow.