Freedom Munitions & Parent Company File for Chapter 11 Bankruptcy

Jerzsubbie said:
That sucks. I like xtreme bullets.
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have you ever ordered directly from them? They over-promise and under deliver. I only get them from Wes Sage and Cabela's, but yeah I like the product.

I have a feeling some dbag at or near the top of this company has ran it into the ground. Hopefully they get rid of the deadwood / bad leadership. Plus the market is working against them at this point.

Maybe Berry's will pick up some market share. I really like them as a company and their products are every bit as good as Xtreme, plus they actually publish load data (and Hodgdon for their bullets)
 
Goofyfoot2001 said:
Well if Dems want gun control, they just need to keep electing conservatives!
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Very true. If conservatives are elected, there will be guns still in circulation and in the stores for people to buy for the government to try to control. The dems want to take all the guns away so there will be no need for gun control.

I do not know the particulars of this individual case, but I can very easily see that some of the companies were very short-sighted during the recent reign of Obama. If the scare was just a scare and the aims of the libs was not realized, the market would naturally cool off as it has. It the libs had actually done what they say they want to do and disarm America, the market would be frozen. Either way, if a company invested a lot in a temporary upswing in demand, that investment would not pay off in the long run when the market was either cool or frozen.

Keep in mind that libs are not against guns. They love guns in their hands. They only hate guns in our hands.
 
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I like their stuff a lot. Hopefully they will come out stronger.
 
Wow! This one surprised me. At least they will be reorganized and not going out of business. Like there stuff. I have ordered from them and never had a problem like others. Even the reviews I have read over the years a lot of people complained about the shipping problems.

Hope they make it
 
I always got my orders in under 7 days out of the Seattle warehouse.
Perhaps their lender has no interest in lending to bullet company and called the loans?
 
Button Pusher said:
Perhaps their lender has no interest in lending to bullet company and called the loans?
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It could be a lot of things, but it isn’t that the lender called the loans because they don’t like lending to a bullet company. More likely a loan was due and they were unable to refinance it or they defaulted under the terms of one or more credit agreements.
 
Received the following email from them last night"

"To all of our valued Freedom Munitions customers:

You may have already heard or read about the recent decision to re-organize Freedom Munitions in chapter 11 bankruptcy proceedings.

We would like to take this time to assure our valuable customers of the ongoing commitment to provide affordable ammunition to shooting sport enthusiasts around the country.

Freedom Munitions will continue to manufacture ammunition, ship orders and provide the best service we possibly can.

We are still here and plan on maintaining a steady path of manufacturing cost effective ammunition and moving towards a positive future.

Thank you for your patience and continued patronage,
Freedom Munitions Team"
 
ECNC said:
Received the following email from them last night"

"To all of our valued Freedom Munitions customers:

You may have already heard or read about the recent decision to re-organize Freedom Munitions in chapter 11 bankruptcy proceedings.

We would like to take this time to assure our valuable customers of the ongoing commitment to provide affordable ammunition to shooting sport enthusiasts around the country.

Freedom Munitions will continue to manufacture ammunition, ship orders and provide the best service we possibly can.

We are still here and plan on maintaining a steady path of manufacturing cost effective ammunition and moving towards a positive future.

Thank you for your patience and continued patronage,
Freedom Munitions Team"
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I got the same email. I have quite a bit of their ammo on hand. It's good stuff.
 
Ikarus1 said:
they were running specials last year with free shipping. Took 30 days after they charged my card to deliver 1K 9mm pills. Never again!
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Not sure why that happened, but I always wait for free shipping and order a few K. It typically takes about 2 weeks to arrive at my door.
 
Rs1200xl said:
Not sure why that happened, but I always wait for free shipping and order a few K. It typically takes about 2 weeks to arrive at my door.
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2 weeks vs 2 days from every other online retailer. With a little searching you'll see that 2 weeks is about the fastest shipping time anyone has ever gotten directly from Xtreme.
And those 'free brass with bullets' offers usually never shipped out, with alot of people falling victim to that.

I'd rather just buy a comparable product from a better company. @Butter has better deals on .224 pills, and Berry's has data available online.
 
As a business owner I will cease to buy from any company that has filed chapter 11 and shit their vendors to continue in business. It's welfare for the businessman.
 
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Living in NC, why would you not buy from The Blue Bullets? They ship fast, and my 1 and only problem in 5 years was resolved in 24 hours of sending them an email.
 
BlackGun said:
As a business owner I will cease to buy from any company that has filed chapter 11 and shit their vendors to continue in business. It's welfare for the businessman.
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I was doing business with Owens Corning when they filed Chapter 11 eighteen years ago. They stiffed me for $40K, but then immediately did $100K with me while they were in reorganization during the 2001 recession, and paid on time.

Life ain't black and white.
It's all grey.
 
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I agree with Fieldgrade. Not all Chapter 11 filings are horrible for the filer or their debtors. I have seen companies that I worked with emerge from Chapter 11 in less than a year once proper financing was acquired. In some cases, it is a life line until better financing can be arranged, it is not always writing debt down to pennies on the dollar.
 
fieldgrade said:
I was doing business with Owens Corning when they filed Chapter 11 eighteen years ago. They stiffed me for $40K, but then immediately did $100K with me while they were in reorganization during the 2001 recession, and paid on time.

Life ain't black and white.
It's all grey.
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Unless that $100k was actually $60k worth of product/service that you marked up $40k, how did you come out ahead on that? I can't imagine eating $40k just because they promise me another $100k. Actually, I can't imagine taking an order for $100k after being stiffed on $40k. I assume I'm missing something here but not sure what.
 
dave421 said:
Unless that $100k was actually $60k worth of product/service that you marked up $40k, how did you come out ahead on that? I can't imagine eating $40k just because they promise me another $100k. Actually, I can't imagine taking an order for $100k after being stiffed on $40k. I assume I'm missing something here but not sure what.
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It's the bankruptcy pecking order. Unsecured creditors are last in line to collect if they have pending invoices at the time of bankruptcy filing, (which I did) and maybe even if they have been paid in the last 90 days prior to the filing (or something to that effect). Nobody really knew that I "wouldn't get paid" at the time. An outfit tried to buy my $40,000 claim for about $.30 on the dollar. In hindsight I should have taken it.

I was in the middle of helping them staff a central project engineering department that was doing some exciting expansion for a division that really had nothing to do with the asbestos claims. The parent company filed Chapter 11 to deal with the continuing claims.

Once they had filed, everything thereafter got paid like clockwork. There were just two invoices that were pending when they filed and I just never got paid. Interestingly, about five years later I placed two guys out of there, who I placed in there earlier. I figured that evened up the score. Plus I didn't recruit them out of there. They came to me, more or less. Not the same two guys they owed me for, but the same kind of money.

The work they were doing in that division was so exciting I was able to get engineers to leave other jobs and go to work for them while they were in chapter 11. Easier to do business with the devil you know, than find one you don't, which was always the case in my business.
 
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dave421 said:
Unless that $100k was actually $60k worth of product/service that you marked up $40k, how did you come out ahead on that? I can't imagine eating $40k just because they promise me another $100k. Actually, I can't imagine taking an order for $100k after being stiffed on $40k. I assume I'm missing something here but not sure what.
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Agree with this. Loss 40k and unless you added 40k up for your profit on the next job you took one hell of a desperate gamble again. Sorry I don’t do business with wealthy people who steal thru legal laws made for the rich. It’s called integrity.
 
BlackGun said:
Agree with this. Loss 40k and unless you added 40k up for your profit on the next job you took one hell of a desperate gamble again. Sorry I don’t do business with wealthy people who steal thru legal laws made for the rich. It’s called integrity.
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There was no desperate gamble. Doing business is a gamble every day you wake up. I figured everyday I came to work unemployed till I made something happen. No salary, no real benefits, no paid vacation for 25 years. I worked on contingency by choice, meaning I only got paid if they hired my people. I could only eat what I could shoot.

All my pay was "at risk". I gave up a good salaried job with a Fortune 50 company after 10 years to get into that business

It was as certain as anything I ever did in 25 years of headhunting. Sorry you boys don't quite grasp it. I'll be judged by my maker one day, but not you fellas. lol
 
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fieldgrade said:
There was no desperate gamble. Doing business is a gamble. I worked on contingency by choice, meaning I only got paid if they hired my people. I could only eat what I could shoot. How about you?

It was as certain as anything I ever did in 25 years of headhunting. Sorry you boys don't quite grasp it. I'll be judged by my maker one day, but not you fellas. lol
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My bad. You had nothing invested in a product that other vendors would take your house for. Why didn’t you say you loss nothing but a little time?
 
BlackGun said:
My bad. You had nothing invested in a product that other vendors would take your house for. Why didn’t you say you loss nothing but a little time?
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Like selling real estate. No real inventory. Just putting together buyers and sellers.

A "little time". That was probably a quarter of a year's billings at that time.
 
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I want to apologize if my replies above came off as assholish. It was a pretty aggressive business I was in and you just had to role with it. I took an exam to be certified in the business back in the mid 90's and got the highest score in the state that year. The exam was all employment law, and I treated everything as "above board" as I could in the business. But it was a business, not a non-profit.
 
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fieldgrade said:
I want to apologize if my replies above came off as assholish. It was a pretty aggressive business I was in and you just had to role with it. I took an exam to be certified in the business back in the mid 90's and got the highest score in the state that year. The exam was all employment law, and I treated everything as "above board" as I could in the business. But it was a business, not a non-profit.
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Not at all. It was just something I couldn’t understand. I’ve dealt with plenty of non-paying customers but rarely in the amount you’re talking about. Mine is usually settled to where I get paid what I’ve actually lost and can reuse materials or they pay up before any business is continued and then I get my costs paid upfront just in case. I’m working in the consumer space though for the most part so don’t have to deal with bankruptcy very often.


Sent from my iPhone using Tapatalk
 
fieldgrade said:
I want to apologize if my replies above came off as assholish. It was a pretty aggressive business I was in and you just had to role with it. I took an exam to be certified in the business back in the mid 90's and got the highest score in the state that year. The exam was all employment law, and I treated everything as "above board" as I could in the business. But it was a business, not a non-profit.
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I thought all of your replies were very well written.

Every time I think back to the Corning situation I wish I would have borrowed as much money as possible and dumped every penny I could into their stock when it got down to $1.16...whatever it was. At the time I "knew" it was the investment of a lifetime and hindsight has proven that I am an idiot for not listening to myself.
 
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fieldgrade said:
I want to apologize if my replies above came off as assholish. It was a pretty aggressive business I was in and you just had to role with it. I took an exam to be certified in the business back in the mid 90's and got the highest score in the state that year. The exam was all employment law, and I treated everything as "above board" as I could in the business. But it was a business, not a non-profit.
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I worked for almost 20 years as a contract piping designer, so I fully understand Fieldgrade's point.
A good headhunter to work with/for you is hard to find.
I'm trying to find one now as I'm not ready to retire.
 
ronn47 said:
I worked for almost 20 years as a contract piping designer, so I fully understand Fieldgrade's point.
A good headhunter to work with/for you is hard to find.
I'm trying to find one now as I'm not ready to retire.
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LinkedIn.com
 
ronn47 said:
Been there for some years, 180 connections.
I want to stay close to home this time and not travel the countryside.
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I just mentioned it because I got on that site in 2004, and by the time I retired from the business 10 years later that was the primary fishing spot for most recruiters.
 
Going to pickup some new .380 they had at Gander. Inexpensive if they still have it. $12.99 per box of fifty.

The 9mm that was there was reman and as much as new? Is there a reason? Are they magical since Freedom reloaded them?
 
TripleO7 said:
Going to pickup some new .380 they had at Gander. Inexpensive if they still have it. $12.99 per box of fifty.

The 9mm that was there was reman and as much as new? Is there a reason? Are they magical since Freedom reloaded them?
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Freedom changes their pricing weekly if not daily. I guess with demand?
 
I've been on their page on and off the past few days. There appears to be no mainstream new fmj 9MM or 45 manufactured by them available. They were my go to the past year. Not good.
 
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