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Old 10-16-2020, 04:01 PM #22
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Been with a company going through bankruptcy, and we were told the whole time through it was business as usual, don't worry. Right up until the sheriff's deputy collected keys from us as we left the building for the last time. Not saying that's this scenario, just saying be careful.
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Old 10-16-2020, 04:06 PM #23
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https://www.bizapedia.com/de/kore-outdoor-us-inc.html

Now, somebody track the money that created a multi-million dollar company in Delaware less than a month ago.

(Credit to Zorn for finding the Bizpedia info)
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Old 10-16-2020, 04:28 PM #24
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Johnny Rathbun, Sales Manager at GI Sportz, had this to say:

"As many of you have probably read or heard about the Bloomberg report today regarding bankruptcy and GI Sportz. I am here to calm the waters by assuring you that this "restructuring" will not affect any of the brands or products that you get from this company. Chatter is chatter, but rest assured this management group and the company will not be skipping a beat as we navigate into paintballs future. If you have any questions you can definitely ask and we will answer the best we can during this time. More information will be coming out in the weeks but again, we are not going anywhere. Feel free to share if you feel the need."
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Old 10-16-2020, 04:35 PM #25
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Ya the whole business as usual is just a nice vail put over everything that is about to happen.

Sucks about Gi sports.
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Old 10-16-2020, 04:53 PM #26
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Quote:
Originally Posted by John View Post
Johnny Rathbun, Sales Manager at GI Sportz, had this to say:

"As many of you have probably read or heard about the Bloomberg report today regarding bankruptcy and GI Sportz. I am here to calm the waters by assuring you that this "restructuring" will not affect any of the brands or products that you get from this company. Chatter is chatter, but rest assured this management group and the company will not be skipping a beat as we navigate into paintballs future. If you have any questions you can definitely ask and we will answer the best we can during this time. More information will be coming out in the weeks but again, we are not going anywhere. Feel free to share if you feel the need."
Who calls him Johnny?
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Old 10-16-2020, 05:18 PM #27
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Who calls him Johnny?
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Old 10-16-2020, 05:36 PM #28
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I pulled a list of all brands that are currently being sold under the GI umbrella.

GI Sportz
Empire
Spyder
Tippmann
VForce
JT
Tippmann Airsoft
Now lets also list the other brands they have killed off, but have exclusive right to, and could potentially sell off:

WGP
Viewloader
Brass Eagle
Stryker
PMI
Extreme Rage
Evil
Pure Energy
Piranha
Halo
32 Degrees
Psychoballistics
Diablo
Draxxus
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Old 10-16-2020, 05:37 PM #29
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Been with a company going through bankruptcy, and we were told the whole time through it was business as usual, don't worry. Right up until the sheriff's deputy collected keys from us as we left the building for the last time. Not saying that's this scenario, just saying be careful.
This is absolutely correct. They won't show their hand until it no longer benefits them.
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Old 10-16-2020, 05:41 PM #30
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Now, somebody track the money that created a multi-million dollar company in Delaware less than a month ago.

(Credit to Zorn for finding the Bizpedia info)
Them VC investors got got. =P

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Old 10-16-2020, 06:28 PM #31
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Bart buys everything.
If Bart bought them out hed probably turn them into a profitable business and that might get painful for some people.
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Old 10-16-2020, 07:27 PM #32
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A restructuring is laughable to call it that lol the bank owns you now and if the Kore deal falls through and no one else steps up the bank could just say F it and start liquidating. Just call it what it is, the bank now owns your a** until further notice!!
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Old 10-16-2020, 08:13 PM #33
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FWIW, Evil paintballs and Halo Too loaders are still around.

Quote:
Originally Posted by kebone View Post
Now lets also list the other brands they have killed off, but have exclusive right to, and could potentially sell off:

WGP
Viewloader
Brass Eagle
Stryker
PMI
Extreme Rage
Evil
Pure Energy
Piranha
Halo
32 Degrees
Psychoballistics
Diablo
Draxxus
Invert
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Old 10-16-2020, 08:20 PM #34
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FWIW, Evil paintballs and Halo Too loaders are still around.
Yes, but they are sold under the Empire brand instead of their previous branding. They were actually bought by KEE Action Sports and rolled under the Empire brand years before GI bought KEE. KEE retired majority of the old brands before GI bought KEE and got all of it. GI was GI, Draxxus, and VForce before they bought Tippmann, and later KEE to acquire all the old brands.
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Old 10-16-2020, 08:23 PM #35
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FWIW, Evil paintballs and Halo Too loaders are still around.
1 paint from a company which once had a full line of jersey, pants, gloves, low and high end markers, accessories for every mainstream gun like bolts, triggers, regs, Rams, grips, feednecks, barrels, and street wear hardly counts as maintaining a brand.
Besides, the paint is now called Empire Evil, it’s not even an evil product anymore....

And 1 model of 1 loader isn’t really a brand either. Halo used to have several loader offerings, in addition to sponsoring teams, and having an enormous aftermarket accessories scene for their products. Now it’s just the 1 thing.
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Old 10-16-2020, 10:12 PM #36
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Guess suing companies didn't pay off. Scumbags. They are a disgrace. Hope they get buried.
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Old 10-16-2020, 11:20 PM #37
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Well, trying to follow the money (owner) on Kore Outdoor Corp through DE corporate law is a non-starter. I'm not that motivated but the other direction of asking/emailing the Koreoutdoors.org Canadian company if they are associated with the KORE in the Bloomberg article and the US registered Corp might be productive.
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Old 10-16-2020, 11:31 PM #38
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20-12609-CSS 15 KSV Restructuring Inc. and Tippmann US Holdco Inc. 10/16/2020 Sontchi
20-12610-CSS 15 KSV Restructuring Inc. and G.I. Sportz Inc. 10/16/2020 Sontchi
20-12611-CSS 15 KSV Restructuring Inc. and GI Sportz Direct LLC 10/16/2020 Sontchi
20-12612-CSS 15 KSV Restructuring Inc. and Tippmann Sports, LLC 10/16/2020 Sontchi
20-12613-CSS 15 KSV Restructuring Inc. and Mission Less Lethal LLC 10/16/2020 Sontchi
20-12614-CSS 15 KSV Restructuring Inc. and Tippmann Finance LLC 10/16/2020 Sontchi

These are the Delaware Chapter 15 filings. PACER anyone?
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Old 10-17-2020, 12:25 AM #39
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Them VC investors got got. =P
Sadly, I'd almost guarantee Fulcrum Capital is coming out of this with a profit. This is how private equity operates. Buy control of a company, leverage it with absurd amounts of debt to drive up short-term revenue, then sell off the company and its assets and walk away when the debt comes due. It's the same gameplan tanking retailers, media outlets, healthcare providers, and every other industry private equity has gotten its fangs into.
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Old 10-17-2020, 12:25 AM #40
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Nothing new here. Literally the same companies keep getting recycled over and over again. From National Paintball Supply, to K2, to Kee Action Sports, to GI Sportz and all the other random things in between. Consolidating major brands like Diablo/Draxxus/ProCaps, JT, Empire, V-Force, Tippman, etc, etc, all the other ones mentioned in posts above. Its like clockwork that every 8-10 years this group declares bankruptcy, gets bought up by a new investor, re-brands its product lines, and keeps on trucking under a new moniker. Not the least bit surprised.
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Old 10-17-2020, 02:09 AM #41
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Guess suing companies didn't pay off. Scumbags. They are a disgrace. Hope they get buried.
GI Sportz did what any other company would have done. If you think PE, DYE, INCEPTION, etc wouldn't do the same, then you are sadly mistaken. When TM runs out and many other things, and GI is wanting to acquire, that is just business. If another company makes a product(s) that is very close to being a ripoff design without paying royalties, that's business.
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Old 10-17-2020, 05:51 AM #42
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Now lets also list the other brands they have killed off, but have exclusive right to, and could potentially sell off:

WGP
Viewloader
Brass Eagle
Stryker
PMI
Extreme Rage
Evil
Pure Energy
Piranha
Halo
32 Degrees
Psychoballistics
Diablo
Draxxus
Invert
Do these names have ANY value? I wouldn't give you a hug for any one of them. I certainly wouldn't pay money for them.
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