GI sports files for bankruptcy

[Diesel imp]

Flimflam flop GI is just shedding debit. Rumor Is Remington is involved as well.

roundhill group, with richmond italia as managing partner, recently purchased the new york assets of remington arms, and remington was at the time, being in bankruptcy itself, was being ran by a former business partner of richmond
its being reported that roundhill wants to rename it remington outdoors and diversify, but i suspect it will be gutted over the near future

[Chuck E Ducky]

Yeah that’s what I heard as well. That reminds me I should probably buy some spare parts for my R700 (jic)

[ATBen]

The CEO Richmond brought in to GI for 9 months started the squeeze on them. Then he went to Remington and will presumably do the same.

[Grendel]

Remington looks like it is being broken up into pieces. Rumor is PSA (Palmetto State Armory) is looking to buy their Ammo MFG interests. Financial shell games of large publicly traded companies. Bankruptcy is a tool for restructuring and getting away without honoring all incurred debts while major share holders stay rich and has become in big business normal modus operandi.

<sync steps down from soap box.

[JasperStout]

GI has so much stuff under their umbrella It’s probably tough to manage. Idk if I’d want to have 3 brands making masks. But then again you’d hate to discontinue JT or Vforce or the EVS. Kind of a jumble

[scrounger]

FYI, the Gardeners haven't been involved in GI partnership or ownership for almost, if not more than, a decade now. They were the "G" in the initial "GI Milsim" brand that was scrapped in the 2009-2010 timeframe with the failure of the first ".50 cal revolution". The only ties to the Gardeners that GI has now is the Empire "Super Freak" barrel system that the Gardeners are still mad that KEE (Now GI) swooped from them, and the solenoids/bolt design in the Tippmann Stryker series. (Steer clear of the Strykers, just like the eNVy and eXTCy from GoG)

every time something smart parts/gardners happens someone says this quote or something in the same theme.

look it is well known they helped start GI, they have had some overt or covert influence (to say the least) , and the tactics used are almost identical.

so if it buys companies like smart parts/ gardeners, overextends like smart parts/gardeners, sues / legal tactics like smart parts/gardeners, and goes bankrupt very close (if not identical) to smart parts. it is gardeners...
it sure as hell isnt something/someone else

or in the old saying,
if it walks like a duck, quacks like a duck, swims/flys like a duck .... ITS A DUCK

scrounger

[pghp8ntballer]

Wait, I thought if it weighs as much as a duck, then it’s a witch...

[gabe]

But does it work? Every time. And who's still around after everyone else left the party? The Gardners. Who's making money in a sport that is only around to drain money? The Gardners.

Gotta hand it to them, they aint dumb.

[jerryjjackson69]

GoG, DLX, and Shocker Paintball have yet to use those tactics (although DLX is a holdover from the SP era). I guess every company in paintball that uses sleazy big business tactics is Gardeners just because they were the first to bring it into the industry (sarcasm). I'm definitely not defending the Gardeners or GI, and while I understand your sentiment, your logic is flawed.

[nerdcore]

So what I'm hearing is, this bankruptcy means nothing to us?

[jerryjjackson69]

Realistically it won't mean much to most paintball consumers. If you are someone who pays attention to a company's business practices and let that influence your spending decisions then you might avoid GI and their brands (if you weren't already), but most players won't notice a thing if this all goes down the way they intend it too. I only use their paint when I have too (most of the time players don't get to choose what paint they are stuck with), and I still have 3 pair of some 2012 Empire budget woodsball pants/jersey sets I love from before the GI/KEE merger, but beyond that I don't have much of their brands of products and don't really see them producing anything that interests me in the future.

[SignOfZeta]

If they do anything it may be to consolidate some brands/products.

When GM went bankrupt they stopped supporting most things they sold before the bankruptcy. They also managed to weasel out of a Dexcool lawsuit and I’m sure other things. It may be a good time for them to ditch the TPX pistol, since it seems to be an unfixable POS. If you want to sue them for anything (selling prole suppression systems to your local municipality for example) it’s probably too late. The old company will be protected until it becomes the new company which will be immune.

There is a furniture store in my town that does this.

[whyhelloofficer]

Remington looks like it is being broken up into pieces. Rumor is PSA (Palmetto State Armory) is looking to buy their Ammo MFG interests. Financial shell games of large publicly traded companies. Bankruptcy is a tool for restructuring and getting away without honoring all incurred debts while major share holders stay rich and has become in big business normal modus operandi.

<sync steps down from soap box.

raises eyebrow
...tell me more

[ATBen]

Lawrence Wright and Allen Martin from Ronin Kenetic Esports (among other things) did a great recap on it in the link below; the ownership, the employment agreement with the Canadian government, it's losses, the insolvency documents, the CBD oil, all of it.

I'm on the "hate the Gardner's" bandwagon too, but this time it sounds like the RITF, or Richmond Italia Trust Fund, was the one making the "business decisions."

My two cents (they're, Canadian cents btw, so essentially worthless) he could have tried to save GI, but wanted to invest in legal cannabis more. And I can't see how "GI for the player, by the player, business as usual" is going to work. Especially since they basically blamed fields for their problems.

https://www.twitch.tv/videos/783953135?tt_medium=mobile_web_share&tt_content=vod

[Mr. Hick]

For anyone interested in the above vid it doesn't begin discussing the GI business until 48 minutes in.

[ATBen]

Ya, those dudes could talk forever.