Gunwerks Trouble?

[Jape]

Appointment of a receiver is never the best sign, and it makes you wonder if that new building combined with the pandemic was too much. I’m hoping for a 70% discount sale on their guns

Wells Fargo Sues Cody's Gunwerks, Claims Firm Owes $2.8 Million

In March 2019, Gunwerks along with government and business officials broke ground for its expanded manufacturing facility.

k2radio.com

 

[Oak]

Their marketing "budget" had to be out of control. When you stop paying your taxes you've pretty much torpedoed your own ship.

 

[MThuntr]

They were selling "systems" for $10K which was almost double what they're worth. Troubles apparently began in 2018 and they borrowed money to expand. If they couldn't pay the bills in 2018 expanding wasn't going to save them...COVID will be the scapegoat used by many but it had little part in their foul up.

Admittedly I just bought some of their very expensive brass however ADG made it for them.

 

[Schaaf]

Shocked that there are only so many fish in the pond able to purchase a 10k rifle setup.

 

[Jape]

Also makes their “old stock” sale a couple months ago look suspicious.

 

[westbranch]

Shocked that there are only so many fish in the pond able to purchase a 10k rifle setup.

Not sure I would ever feel like I had enough money to spend $10k on a rifle setup. It would be pretty far down the list.

 

[Schaaf]

Especially when a rifle from GAP for 3-4k is the better rifle.

 

[noharleyyet]

I'd prefer them selling every one they could make....and working double shifts.

 

[MThuntr]

Especially when a rifle from GAP for 3-4k is the better rifle.

but you get some berger bullet loads developed too so that like $50 value included

 

[406dn]

If their insolvency slows down the practice of taking 1000 yard shots at game animals,,, this is good news to my ears.

I do have empathy for the various craftsmen making the rifles. Hopefully they can find employment that uses their skills.

 

[std7mag]

$10k for a composite stocked rifle, for "1,000 yards out of the box" wasn't the best of business plans to begin with in my oppinion.

It's not a finely crafted & engraved double, and the manufacturers of those are small.

Especially when you could buy one of their actions for $600.

I've seen too many factory rifles capable of fine long range hunting accuracy for less than 1/10 the price.
And shooting 1,000 yards is more the shooter than the rifle.
Don't get me started on Revic!

Sounds like they have been making poor business decissions for quite a while.

 

[Losing_Sanity]

The web site is still up and running. Don't know if you were to order something if you would get it or not. Might be they are still trying not to go under. Probably too late for that at this point.

 

[ida homer]

Their flood of marketing tactics is right up there with Go Hunt, On-X, Mtn Ops, etc.

I have no doubt they have sold an absolute shit load of rifles, but flat brimmers aren't typically the best
at managing money.

 

[HandgunHunter]

Common problem in the gun industry.

people try to go too big too quick and massively overspend on buildings and equipment.

the custom gun (or in this case expensive production guns) are a limited market.

You see it on smaller scales with little shops growing and over spending then crash....

or in this case.....spend/hide it all then burn the bridge.

I’ll stick to just plugging along and making a steady income.

 

[Hunting Wife]

I have always wondered how some of these companies with high dollar builds stay in business. Always seems like more hype than demand. Kind of too bad... I know a young guy that works for them. One of the low men on the totem pole, but one of the absolute nicest people I’ve met in a long time, newly married. Hope he’s able to figure something out.

 

[LopeHunter]

I have tried for 18 months to get them and/or the offshoot to load me custom ammo for one of the early 7mm-08. Crickets. I figured they were all so dang successful they had no time to take my money. Oh well. Shooting off the shelf ammo and getting nice results but know could do even tighter groups out further which would be fun at the range.

 

[Deleted member 16014]

The packages, the optics, etc. all felt painfully pretentious; not that they're alone in that. Though I never "got" gunwerks as any kind of product I'd want, I'm sorry that they're crumbling for the employees sake.

 

[jryoung]

I'm not sure if it was their "stripper name" type nomenclature of products or the lack of a product call "The Reaper" (every great hunting gear company has one) that was their downfall. If RIFs happen hopefully the employees can land elsewhere.

 

[Oak]

Well, I just got an email from them at 3 PM advertising product.

 

[noharleyyet]

"Your advice seems to be [poo]."
- Dinkshooter, 2019

@Oak ..listen to this legend