Gunwerks...uh oh

feddoc · May 20, 2020

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

Wells Fargo Bank has sued the Cody-based custom-rifle maker Gunwerks, LLC, for $2.8 million for unpaid loans and wants the company's equipment, according to federal court records filed Wednesday.

Gunwerks, which expanded its facility with a Wyoming Business Council-recommended loan package, also owes $1 million to creditors and and for unpaid sales taxes, according to the complaint by the bank and Wells Fargo Equipment Finance, Inc., through its attorneys at the Casper office of Crowley, Fleck, PLLP.

Read More: Wells Fargo Sues Cody's Gunwerks, Claims Firm Owes $2.8 Million | https://k2radio.com/wells-fargo-sue...aJ5FCs&utm_source=tsmclip&utm_medium=referral

AZGuy · May 20, 2020

Niche market, there are people making superior guns for 1/3rd the cost.

eelgrass · May 20, 2020

Gunwerks missed their target?

BIGJOHNT · May 20, 2020

They would auctually talk to little guys like me when they started their business. But a lest few years they just ignore me at the both. Even though I am a customer. I use the Gseven range finder. I love the other things the have come up with. But myself like others can put together a nice long range rifle for under ten grand. Without much effort. I hope they can pull through this I think they are good for the industry.

hornkiller · May 21, 2020

When can I pick up a discounted rifle?
Lmfao!

slamdunk · May 21, 2020

It's got to be an internal mismanagement issue, the long range world is thriving.

Deepcolor · May 21, 2020

BIGJOHNT said:
They would auctually talk to little guys like me when they started their business. But a lest few years they just ignore me at the both. Even though I am a customer. I use the Gseven range finder. I love the other things the have come up with. But myself like others can put together a nice long range rifle for under ten grand. Without much effort. I hope they can pull through this I think they are good for the industry.

I found the same thing at the Expo, gotta look the part for them to sell you a rifle.

Homer · May 21, 2020

zzzzzzzzzzzzzzzzzzzz....................

bigshotca · May 21, 2020

But I just got an email from them talking up their super duper long range 2.0 in 375 chytac, how could they be going under???

nfh · May 22, 2020

I knew this day would come

treedagain · May 22, 2020

Sounds pretty fishy to me.

kilbuc · May 22, 2020

Seems they expanded to quickly, overshot there coverage.

and I put three rounds into Kate McCannon

Deepcolor · May 22, 2020

kilbuc said:
Seems they expanded to quickly, overshot there coverage.

and I put three rounds into Kate McCannon

You better fix all the spelling before Homer reads this.

nfh · May 22, 2020

Came across this..

Fake News: Reporters got Wells Fargo Gunwerks Lawsuit Story Wrong

Aaron Davidson, owner of the high-end custom rifle manufacturing company Gunwerks, said a lawsuit filed by banking giant Wells Fargo against his company on May 20 contained wrong information which spurred erroneous reports about the company’s financial health.

www.internationalsportsman.com

BIGJOHNT · May 25, 2020

Glad to hear the company is do well. They bring a lot to the table and have some great new ideas. Maybe they can come up with some affordable rifles so they can cover all of the market.

RELH · May 25, 2020

I have heard stories that Wells Fargo is not that friendly at times to the firearm industry and I wonder if that could have entered the picture.
RELH

RELH · May 25, 2020

(Reuters) - Wells Fargo & Co’s (WFC.N) relationship with the National Rifle Association (NRA) is “declining,” Chief Executive Charles Scharf told investors on Tuesday.

“I don’t think we participate any longer in the organization’s line of credit and mortgage loan commitments,” Scharf said at Wells Fargo’s annual shareholder meeting, adding that the bank’s exposure to the firearms lobbying group was minimal.

Wells Fargo, the fourth-largest U.S. bank, has been quietly winding down its relationship with the NRA for nearly two years, a bank spokesman said. But Tuesday’s comments marked a change in tone at the San Francisco-based lender, which has been known as one of the largest financiers of the firearms sector, even as other large bank rivals backed away.

slamdunk · May 25, 2020

RELH said:
(Reuters) - Wells Fargo & Co’s (WFC.N) relationship with the National Rifle Association (NRA) is “declining,” Chief Executive Charles Scharf told investors on Tuesday.

“I don’t think we participate any longer in the organization’s line of credit and mortgage loan commitments,” Scharf said at Wells Fargo’s annual shareholder meeting, adding that the bank’s exposure to the firearms lobbying group was minimal.

Wells Fargo, the fourth-largest U.S. bank, has been quietly winding down its relationship with the NRA for nearly two years, a bank spokesman said. But Tuesday’s comments marked a change in tone at the San Francisco-based lender, which has been known as one of the largest financiers of the firearms sector, even as other large bank rivals backed away.

This could explain a lot.....