Black ovis/camofire going out of business?

I see why they filed bankruptcy. No way to recover from that pile of debt. I’m not defending them. They should have stopped something long before now.
 
Every time threads like this come up I am always surprised at the number of people that seem surprised things like this happen.

You all remember when the US tax payer bailed out a bunch of businesses, that still laid off a bunch of employees but all the CEOs took home fat bonuses?

Or more recently when the US tax payer helped keep businesses afloat, while they continued to post record breaking profits but didn’t have the money to provide wage increases to offset inflation?

You all think that there is ethics in many of businesses anymore? You don’t think that this is standard practice with many businesses?
 
The way they were ordering it seemed like they thought they could spend their way out of debt. Not sure why so many companies would continue to ship so much inventory with basically no payment and huge outstanding balances. Also Kendall taking nearly a million dollars looks a little suspect
 
pods8 (Rugged Stitching) said:
Did you pull up the docs or just repost? If you have access I am curious what the referenced severance payouts before filing were. IE last paycheck or parachute payments? I don't feel like signing up for an account to access the files personally but am curious if someone else is already looking.
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No, no inside knowledge, just access to Pacer. We have customers go BK all the time in our business so have to be on top of these filings.
 
moewells100 said:
No, no inside knowledge, just access to Pacer. We have customers go BK all the time in our business so have to be on top of these filings.
Click to expand...
I just meant PACER access. Aziak said somewhere in the filing docs there were severance payouts listed but he didn't state the values. I was just curious what the values of those listed severance payouts was.
 
Based on they talk of BO losing 50% sales YoY, I wonder if other companies are seeing a drop in sales...has me a little gun shy to order anything from smaller companies right now.
 
Carr5vols said:
Based on they talk of BO losing 50% sales YoY, I wonder if other companies are seeing a drop in sales...has me a little gun shy to order anything from smaller companies right now.
Click to expand...

Yes there's all sorts of retail segments down 20-30% YOY or worse. Buddy just closed his two package liquor stores; and the 5-6 other independents in town are hurting as bad or worse. Got another buddy that's a power sports sales guy...they are throwing crazy low interest rates at longer and longer terms to try to entice sales and sitting on a pile of inventory.
 
What sticks out to me is the amount of inventory they were able to retain. 500k to sitka and 300k to crispi. Man thats alot of inventory. 143k to MF seems unreasonable to have that much given the products they offer. Also the amount to archery companies. Eason and victory. woof
 
Reburn said:
What sticks out to me is the amount of inventory they were able to retain. 500k to sitka and 300k to crispi. Man thats alot of inventory. 143k to MF seems unreasonable to have that much given the products they offer. Also the amount to archery companies. Eason and victory. woof
Click to expand...
That warehouse has to look like the end of "Raiders of the Lost Ark"....
1761757885404.png
 
$300,000 to crispi is only 1,500 pairs of boots/ by multiple styles and sizes does not seem like a lot. But maybe someone bumped up the BO warehouse inventory knowing they were going out to improve Crispi USA numbers...
 
Reburn said:
What sticks out to me is the amount of inventory they were able to retain. 500k to sitka and 300k to crispi. Man thats alot of inventory. 143k to MF seems unreasonable to have that much given the products they offer. Also the amount to archery companies. Eason and victory. woof
Click to expand...
I can’t say I have every looked at a large business financials that close but I can say that, while what I do is different, having an AR of 300K is pretty much nothing for me.

A lot of our work is done through reimbursement. We pay the contractor and then submit for reimbursement from the state. Just sent that request off last week, it averages 3 million a month.

Like I said, what I do is pretty different but for large entities, that’s a drop in the bucket.
 
CorbLand said:

GSM Outdoors | Specializing in Innovative Outdoor Products

GSM Outdoors is home to brands such as Stealth Cam, Wildview, Epic Action Cameras, Walker’s, Cyclops Lighting, Maestro Game Calls and American Hunter Wildlife Feeders.
www.gsmoutdoors.com www.gsmoutdoors.com
Click to expand...
It's really wild to see the amount of brands that have a big daddy in the industry. Are there even any brands out there that aren't owned by some big conglomerate?

Sent from my SM-S931U using Tapatalk
 
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