Gunwerks going into receivership

[Billy Goat]

If they truly haven't paid taxes since 2018, what did they expect to happen?

Cut and run possibly. Get grant money, try to sell out to a larger company, get out of town.

Happens more than you think. Generally someone builds up a business to sell it.

 

[Shrek]

Gunwerks may have another side to tell but it’s telling to me that they’ve agreed to the receivership. That means Gunwerks isn’t contesting the facts nor the remedy.

 

[RyanT26]

Nope, I've paid $3k - $4k for another "company" for my customs. But then again, I had to pick out my own parts, buy optics & optic mounts, sight them in all buy myself, and get dope on the rifle all by myself. I'm not the demographic that Gunwerks was/is targeting, and that is OK. Some guys aren't gun guys, and $10,000 isn't a big deal to everyone.

There seems to be a lot of dudes frothing at the mouth on here for a small business to fail simply because they couldn't afford the product, didn't like the personality of the Owner, or somehow think the failure of Gunwerks will further validate their purchase decisions. In general, their products aren't for me, but I appreciate the innovation none-the-less because it helps the industry as a whole to progress.

The reality is it's way too soon to have a clue what's going on. I hope they can keep it together, pay their debts, keep their employees paid, and move forward.

I agree with the first part. But if you look back at the great shakespearean tale of Talladega nights and Ricky Bobby, If you’re constantly running around telling everyone how you just piss excellence and you’re the top dog. Don’t be surprised when people point and laugh when you can’t pay your taxes and a bank is coming after you for defaulting on your operating loan.
But yes it does suck for the employees.

 

[Ndbowhunter]

I shouldn’t even feign surprise.

Gunwerks is a bunch of kooks.

 

[Ryan Avery]

Never heard of them but what's with the trend of misspelling company names? Are we all that retarded we can't even spell correctly anymore?

Pretty simple really. You need a short domain/Social Media name that's easy to remember and not already taken.

 

[Goatie]

Pretty simple really. You need a short domain/Social Media name that's easy to remember and not already taken.

InA podcast, Aaron actually said that’s exactly what happened. He wanted a name that was all inclusive of guns but was a domain he could actually get.

 

[KurtR]

I agree with the first part. But if you look back at the great shakespearean tale of Talladega nights and Ricky Bobby, If you’re constantly running around telling everyone how you just piss excellence and you’re the top dog. Don’t be surprised when people point and laugh when you can’t pay your taxes and a bank is coming after you for defaulting on your operating loan.
But yes it does suck for the employees.

 

[KSP277]

No representation from guunwerkz on here?

 

[HNTR918]

I'd think they would want to address this publicly, otherwise be ready for a steep drop in orders...

 

[cjl2010]

a lot of fingers being pointed at WF but yet everyone ignores that Gunwerks didn't pay their taxes and when in trouble got a loan to expand like it was going to magically fix everything. I feel bad for those that will lose their jobs because of this but the blame goes to management.

Anyone paid $10k for a rifle that can be had for $3-4K from just about any other company?

I want to know where I can get an equivalent of a gunwerks $10k setup for $3-4K.

 

[bowkill02]

I just spoke with them on the phone about my order and was assured everything is stil on track. I was told they are in no danger of closing shop and they are going to continue as a company to grow. I have no reason to not believe the gentleman I spoke with. I dont own a GW rifle nor will I, but i do own several of their products including rangefinders and have had very good results with Gunwerks headstamped brass and as long as their gear and customer service treats me well I'll continue to show them my support

Sent from my SM-G950U1 using Tapatalk

 

[duckhunter175]

Looks like Gunwerks messed this one up-- but I'm interested to see what they have to say. So far all I've seen is Davidson on IG saying "we always pay our bills".

But from what I see in the article... they got $6mil!!! Half grant, half loan (which is now defaulted). If the contract said, you have to keep your money and collateral with us.... and then they didn't. Well, hard to fault WF.

And for everyone (to include GW) saying that WF is "anti-2a" then why take $3m from them???

Lastly- it looks like Davidson was the sole member of the LLC receiving the loan.... seems more than a little shady to hand over $3 or $6 mil to a single person for 'business expansion'.

In the end it sucks for his employees and customers who are the real losers in this deal. Unless there is some criminal charge later it seems that the responsible party will probably skate away.

Disclaimer: My only GW experience was shooting another guys rifle, which he was struggling to zero. The GW ammo had high double digit ES/SD but shot fairly well at 100 (1/2moa or better), can't comment on it at distance. Based off the fit and finish of the gun and the 428 Revic scope.... I will gladly pass for some of the better options on both glass (March, NF, Razor AMG) and rifles (my stable of Alamo Precisions)

 

[Brent9477]

Be very careful believing someone on the phone . Not saying these guys will but companies tell their employees anything to keep them around . Then one day a chain gets put on the door an everybody’s looking around wondering what happened .

 

[Shrek]

The moving the money to another bank is a good idea if you’re planning on filling chapter 11 and reorganizing debt. You need cash on hand to survive the reorganization process.

 

[MuleDeerMike]

Wow, if they haven't paid taxes in 18 months and this is happening in the middle of Covid, all signs point to Gunwerks being done for.

 

[204guy]

Mixed feeling here can't say I'm cheering on the demise of a gun company or a WY business. But I absolutely detest their 1,000 yd out of the box, buy your way to competency BS. They pretty well embody what everyone complains about with regard to long range hunting.

 

[MuleDeerMike]

So I have a few items paid for on backorder with Gunwerks. I was told it would take a months. How should I feel right now?

Sent from my SM-G950U1 using Tapatalk

I would call and cancel the order and get your money back ASAP. If they do happen to stay afloat and weather this then you could always order again in the future when there aren't so many questions surrounding them.

 

[Wyomuleskinner]

Mixed feeling here can't say I'm cheering on the demise of a gun company or a WY business. But I absolutely detest their 1,000 yd out of the box, buy your way to competency BS. They pretty well embody what everyone complains about with regard to long range hunting.

Do you realize it’s a system? They don’t just sell guns, they sell gun systems. It’s a system!!!

 

[MaraviaDave]

I want to know where I can get an equivalent of a gunwerks $10k setup for $3-4K.

Start by looking at gunsmiths/builders who aren’t focusing on hunters as their primary market. GA Precision, Piercision Rifles, American Precision Arms....to name a few.

 

[Bubblehide]

I want to know where I can get an equivalent of a gunwerks $10k setup for $3-4K.

Geez, just read the Tikka's can't shoot thread and you may realize that you can make a big step up from gunworks by going with a Tikka. And to boot, thay go on sale for 500 bucks at times.