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Gunwerks Sued By Creditors

mikecr said:
As a CUSTOMER, i've been a casualty of this kind of mess.
When I read over the apparent situation, all I can think about is how many of their customers will get screwed & how bad..

There are also the occasions where a drowning & unethical company will take deposits from customers for any and every kind of orders -in an attempt to either save themselves, or reach for a rainbow.
And knowing full well that they're screwing everybody! This happened to me twice. Both, Canadian gun builders.

There are bad actors in this business.
Sickening to me, and worse in my opinion, are those who cover for them...
Directly, or indirectly, they hurt us all
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I feel bad for your experience, but I think few business owners ever contiously act in bad faith. Rather, I think what happens is that they hang on too long, thinking things will magically get better, and they don't, because they can't. When they finally throw in the towel, they leave a bunch of customers hanging, with no recourse.

Yes, there are bad actors out there, but I choose to believe they are few. I would rather think that most get in way over their head, much quicker than they ever believed possible and ultimately end up hurting people they never intended to.
 
landonm said:
I work for Gunwerks. There's a lot of speculation and false information floating around here, guys. The truth will come out soon. We've struck a deal with Wells Fargo and this should all be finalized and squared away tomorrow with more details coming to the surface. We're not going out of business, in fact we're seeing our best year to date by far!
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No to be that guy, this exact post was made on other forms word for word. Me think, something is off.
 
landonm said:
I work for Gunwerks. There's a lot of speculation and false information floating around here, guys. The truth will come out soon. We've struck a deal with Wells Fargo and this should all be finalized and squared away tomorrow with more details coming to the surface. We're not going out of business, in fact we're seeing our best year to date by far!
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Kind of weird you just joined today. I would think with any proceedings one would be told to keep their mouth shut whether good or bad.
Will be interesting to read but the fact remains still that huge amounts of money is owed and it took a lawsuit to bring people down to earth.
Prime ammo all over again
 
Nice to hear from someone near the horses mouth...
A private company selling to private individuals should never have to justify their price to anyone other than the customer. I have no affiliation with GW (or any other builder, aside from having a few customs built). Either be a customer, or don’t. The article looks bad and too many people jump to the worst conclusion every time (myself included) I wish GW all the best in all their endeavors, including paying and being able to pay all debts in full as well as completing and fulfilling all outstanding orders.... owing no man anything but to love him... (sound familiar?)
folks gripe about the price without fully understanding the totality of added services and benefits. Buy or don’t- -‘merica.
 
JJMoody said:
Nice to hear from someone near the horses mouth...
A private company selling to private individuals should never have to justify their price to anyone other than the customer. I have no affiliation with GW (or any other builder, aside from having a few customs built). Either be a customer, or don’t. The article looks bad and too many people jump to the worst conclusion every time (myself included) I wish GW all the best in all their endeavors, including paying and being able to pay all debts in full as well as completing and fulfilling all outstanding orders.... owing no man anything but to love him... (sound familiar?)
folks gripe about the price without fully understanding the totality of added services and benefits. Buy or don’t- -‘merica.
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First, I hope Landon and his nice looking family get through this trying time with minimal disruption.

About your last paragraph, I’m lucky to live in a state where Kevin Weaver, Greg Tannel, Mark Channlyn, Dan Dowling and Gene Simillion, as well as others, do business.

They’ve been in business far longer than Gunwerks and would get my business long before I would buy anything from Gunwerks. The best thing, they do equal or better work for a 1/3 to 1/2 the price!!!!
 
CharlieNC said:
I began watching the owner, Aaron Davidson, on Best if the West hunting show years ago. Heard there was a disagreement and he split to found Gunwerks. He appeared to be an excellent well rounded engineer with skills ranging from ballistics to design and manufacturing. Several years ago they started their own TV show, and being the prime sponsor had to be expensive. Not to mention the world wide family hunts. Around the time of the expansion he transitioned from the conservative, engineer appearance to more of a hippie look. Maybe a shift in attitude?
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Yes I definitely saw the change myself he needed a damn haircut but you may be correct and he changed his attitude along with it
 
JimT said:
First, I hope Landon and his nice looking family get through this trying time with minimal disruption.

About your last paragraph, I’m lucky to live in a state where Kevin Weaver, Greg Tannel, Mark Channlyn, Dan Dowling and Gene Simillion, as well as others, do business.

They’ve been in business far longer than Gunwerks and would get my business long before I would buy anything from Gunwerks. The best thing, they do equal or better work for a 1/3 to 1/2 the price!!!!
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I’d be happy to explain further,
First off, there are more talented, experienced, amazing gunsmiths offering great builds with proven developed loads and complete packages than can be named by me. I also am blessed to live within 10 miles of guys like Bruce Thom and the gang, Shawn and Bob Carlock, Matt Whaley, and a host of others, a few of which I have done business with and others I’d wish to do business with before GW. The fact remains that they have sought to bring “out of the box performance” to the masses. Of course there are others... From what I’ve seen, they have(so far) stood behind their work, built quality systems and offered turn-key packages for guys who just don’t have the time, aptitude or otherwise to develop their own. I can only imagine the sheer amount of phone time they spend guiding folks interested in their stuff. Also from what I’ve seen, they want guys to shoot enough to burn barrels up and get good with the weapon- rebarrels are $500 for the rifle(not sure on all details, just repeating what I heard them say). There is value to that in the long run.
A good name goes a long way in any business and I hope they can save theirs. It’s been said before, but I really like to see folks who step out and step up succeed....Anywhere.... Lots of this type of thing can be correlated to changing attitudes, hairstyles and a sincere lack of humility along the way and sure we all like to see guys stay humble, but I’d rather see someone learn from mistakes and make a full 180 correction toward the better, than fail and implode completely.
 
The road is littered with people trying to make it in that very thin high end market(Lazzeroni, now GW). Although I don’t own any of their rifles, It gives me more appreciation and admiration for Weatherby who has been succeeding in that market for a long time.
 
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Gunwerks apparant response to this?

Post a new Youtube video with their Hamr 2 in 375 Cheytec shooting at 2 miles.

Interesting...
 
There will be blood! Whenever a business stumbles, or goes under the employees are usually the ones hurt the most thru loss of a job, wage or benefit reduction, sheer mental anguish, loss of sleep, and financial problems. Creditors also loose money and not just the banks but parts suppliers, and others holding unpaid bills. Governments are left with unpaid taxes in this case. Customers don't get what they paid for. Some may be able to get pennies on the dollar finally. A business failure leaves many people damaged, some never recover.
 
Daddymac said:
As for the gun control part, I just don't believe any bank would take that kind of loss to just shut you down, if that were the case, I think you would want a bigger target than Gunwerks to get the most bang for the buck.

Bottom line, you gotta pay the bills.
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To put in perspective, that loan they recalled is .00097% of Wells Fargo annual profit. I've bet everyone on here has let a dime go unpicked, which is more than 3x the percentage the lost. So the gun control aspect, is very alive.
 
Guys, here's an official statement from our CEO, Aaron Davidson. Gunwerks is alive and well!

"The reports of Gunwerks’ demise are completely false. In fact, we’re crushing it! So far, 2020 has set records for sales performance and profitability, and it only gets better from here!

This week’s report of Wells Fargo filing a lawsuit has gotten a lot of attention. The bottom line is, the litigation has been settled, the entirety of our Wells Fargo operating loan has been paid off, and it is business as usual for Gunwerks.

The Wells Fargo narrative of Gunwerks’ financial distress was untrue. The dispute was never about Gunwerks’ financial condition or late payments, but about a difference of opinion on asset valuation. Within days of filing the suit, it has been settled and the case will be dismissed immediately."

More details and the complete statement here: https://www.gunwerks.com/blog/press-releases-5/post/official-statement-from-gunwerks-ceo-regarding-wells-fargo-litigation-225
 
Nightraider said:
To put in perspective, that loan they recalled is .00097% of Wells Fargo annual profit. I've bet everyone on here has let a dime go unpicked, which is more than 3x the percentage the lost. So the gun control aspect, is very alive.
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At least in your mind.
 
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