Bankruptcy…..Whitaker’s Gun shop😮

Just got a couple texts that said Whitaker’s Guns in Ky is closed due to bankruptcy????

I got a couple of threads saying the same thing.

Breaking news...

Any sales?

Originally Posted by RMerta

Just got a couple texts that said Whitaker’s Guns in Ky is closed due to bankruptcy????

I thought they were expanding....

DF

I don't know but I'd sure hate to be in the gunshop business and looking for a commercial loan these days for any reason. Mb

Hope ya didn't have anything on layaway.

They never really recovered after covid, couldn't get inventory, maybe expanded too much, too fast.

I really liked the old store, but it seemed to lack something with the huge expansion into the new building. Whittaker himself had contacts within the industry that were not kept up with, after his passing, and that hurt them, too. Damned shame, really, they had a nice thing going, and I loved going to the shop, even though it's a two-hour drive from here.

Looking back, though, the last few times I've been to Owensboro, I haven't even though about driving the last 15 miles to the shop, there wasn't any "interesting" stuff in the shop the last few times I made that drive. They used to have all kinds of neat long guns, but not the last few times.

Nowadays, the wife and I might drive down to O-boro for a big lunch at Moonlite, but that's about it.

Originally Posted by ratsmacker

They never really recovered after covid, couldn't get inventory, maybe expanded too much, too fast.

That is the downfall of many "service" business. The ideas are great, but when the get built, it's too big, too fast.

That happens a lot in MN/WI resorts and bars on the water. A new owner buys it with big ideas. Spends a million on a remodel and the seasonal clientele can't pay the mortgage.

Was in the store back several years ago (before Darrel passed) on a week day, late morning, Darrel's wife, Becky, was running the store that morning. I commented that no way could I ever have a successful gun shop because I'd want to keep too many of the guns for myself. She said, 'a lot of folks think that's what Darrel does, but truth is he's really just the opposite'... You know how many guns Darrel really has of his very own -- TWO. Was only one for a long time but the kids and I bought him another gun he'd been wanting. Every time we got one in he liked and said he's going to keep it, put it under he counter but always wind up selling it. First and foremost Darrel was a business man by nature.

Kuegel & Whittaker opening new...ence Messenger-Inquirer Feb 16, 2024 0

Quote

Rod Kuegel’s family has farmed in Daviess County for generations.

But now, the family is branching out into retail businesses on the side.

“Most businesses have a higher return on investments than farming,” Kuegel said with a laugh.

He and his son, Clay, own Beef and Bacon Custom Processing in Beech Grove.

And now, his son, Luke Kuegel is getting ready to open Kuegel & Whittaker, a guns and outdoor store, at 1330 Worthington Road, beside Kuegel’s farm shop.

It’s near the intersection with Wyndcrest Drive.

The 7,200-square-foot store will carry an inventory of about $500,000 worth of merchandise, mostly guns, Rod Kuegel said.

Chris Whittaker, Luke Kuegel’s partner in the enterprise, is a member of the family that opened Whittaker Guns in West Louisville in 1988.

In 2017, they opened a new 24,000-square-foot Whittaker Guns superstore there.

It draws customers from all over the country.

People fly private planes into Owensboro so they can shop at Whittaker’s.

Kuegel said Chris Whittaker decided he wanted to go out on his own.

So, Kuegel & Whittaker is slated to open in May.

IBISWorld.com says there were 16,586 gun and ammunition stores in the United States last year.

That represented an increase of 3.2% from 2022.

In fact, the article said, the number of gun and ammunition businesses grew at that same rate every year from 2018 to 2023.

In 2022, 16.2 million firearms were sold in the U.S.

Whittaker Guns Unexpectedly Shuts Doors to Public, Community Seeks Answers

Nice AI generated news article.

The local news is saying that people who ordered firearms are now wanting their money back. The customers are getting stiffed.
I live about 30-40 minutes away. It’s sad but since they opened the new store it hasn’t been the same.
Then the new owner came in and pretty much killed the place.

Ratsmacker as you mentioned you could smell the store dying a long time ago. The last few times I was in there the firearms was sparse.

Originally Posted by RMerta

The local news is saying that people who ordered firearms are now wanting their money back. The customers are getting stiffed.
I live about 30-40 minutes away. It’s sad but since they opened the new store it hasn’t been the same.
Then the new owner came in and pretty much killed the place.

That local news video:

Whittaker Guns ‘closed to the public’: Customers want answers about unfulfilled orders

(FYI -- Derrik's dad is an active member and still posting here at the 24 Hour Campfire forums...)

No flies on Darik. The man saw a business opportunity and he seized it. It obviously didn’t work out. I wish good things for both Darik and the next generation of Whitaker. America is built on small businesses.

Hopefully those customers weren’t disciples of Dave Ramsey and used a CC to pay. They will be able to have the cc company reverse the charges. Those who didn’t are, unfortunately, SOL!

All the customers who recently placed unfilled orders wanting to know when they will get their money back, don't seem to realize that they are now creditors waiting in line for pennies on the dollar like all the other creditors leading up to the bankruptcy. Even if their gun comes in, paid for, it would be sold to somebody else and the proceeds distributed through bankruptcy.

Good things always seem to come to an end.

I bought about 4 or 5 rifles via Whitakers... Each was a pleasant experience.

I wish the family well....

Originally Posted by AKwolverine

Nice AI generated news article.

Exactly. Anyone familiar with the store knows that it did NOT generate a lot of “foot traffic” for surrounding businesses.

Stiffing lots of people is a miserable business model.

Originally Posted by Orion2000

Originally Posted by AKwolverine

Nice AI generated news article.

Exactly. Anyone familiar with the store knows that it did NOT generate a lot of “foot traffic” for surrounding businesses.

There was actually only ONE surrounding business, and that was the little bar/grill next door. I have been to Whittakers many times, and was never in it. I have no idea how popular it was, but I don't ever remember seeing many vehicles parhed there.

I had heard a few days after the first post appeared on here about Whittakers closing, that it was due to bankruptcy, and also heard some of the reasons why that might have been the case. However, I'm sure that the people who like to spread rumors will have a field day with this one, so I'm not going to speculate here.

As I posted back when this first came to light, I was in Whittakers about 3 weeks ago. I quickly noticed two things......a lack of guns and scopes, and only three employees, a lot fewer than what I usually see there. There seemed to be about the usual amount of reloading supplies, especially in the era we are in, and not seeing anything that interested me, I didn't stay long. I asked an employee on my way out about the lack of guns, and was told that they'd had a big last few months in sales, and were having trouble getting guns back in stock because the distributors were behind. It appears that that might have been a cover story for what was happening.

Given the fact that one of Whittakers owners, shortactionsmoker, is a very respected member here, I really hate to see what has happened. I had an FFL for almost 40 years, and could buy any gun I wanted for my personal use at dealer pricing. But, I still liked shopping Whittakers, especially the original store for guns because of the huge inventory and the fact that I could sometimes buy things cheaper than I could order them. I often went there just to browse, and handle rifles and shotguns that were out on the floor, instead of having to ask some goober behind a counter if I could see a particular gun and having to listen to him tell me that he had killed a grizzly bear with one just like it. Personally, I'm going to miss Whittakers and the deals that Darrik came up with, and I hope that someway, somehow, they can get this straightened out and open the store back up again.

First place I ever ordered a gun online was from Whitakers, they had good prices. Ruger American Predator 22lr for 230 and free shipping. Couldn't beat that price. Years ago.

In my business I sometimes get involved with assigning and modifying leases for Landlords who have Tenants that are selling small businesses. Some go ok but almost everyone I have done that included a SBA loan went south in a year or two. People buy the business based
On value created by income. They end up paying for blue sky as well as inventory and picking up a lease on the property. In the end the debt sinks them as they cant weather the ups and downs and dont have the proper cash reserves when cash flow is down. The sellers of the business usually started with no debt and have no debt and may even own the property. So they are able to weather the ups and down. I have seen this happen over and over when people , even experienced in that business buy a business with debt.

I dont have any idea if this was the case here but I wouldn't be surprised if it was.

Originally Posted by tzone

Hope ya didn't have anything on layaway.

I’m pretty sure they stopped taking layaways a long time back. I’m waiting now for one from another dealer undergoing bankruptcy. The attorney assures me that I’ll get it, but just when is hard to say. This stuff grinds slowly.

When the owner of that shop first told me that they were closing, he said interest rates were killing them. I presume that meant they were paying interest on the guns people had on layaway, and the burden eventually got too heavy. I was thinking about buying an upper that’s backordered from another supplier, but abandoned the idea when I found out I would be charged up front. One limbo situation is enough…..

Im pretty sure I’m SOL. I’ve had a gun ordered since the end of January. I used my bank debit card since I don’t have a credit card. I never imagined a reputable company like whittakers would screw the pooch like they did. We’ll see what’s going the happen in the next few weeks.

The last time Derrik made a post on his personal Facebook page was late September 2023.

Just days ago someone had even posted on Derrik's Facebook that they want their money back.

My concern for Derrik and family is I sincerely hope he didn't 'Bet the Farm' as collateral in buying into ownership / trying to stay 'afloat'...

https://www.14news.com/2024/03/05/w...s-want-answers-about-unfulfilled-orders/

Quote

...Daviess County Sheriff Brad Youngman says although they’ve gotten calls, there isn’t anything criminal involved right now, so his office recommends folks to handle this in civil court.

If you’ve been affected by this closure, or you have an order yet to be filled, follow these steps:

IF YOU PAID BY CARD: Contact your bank and ask them to contest the charges.

IF YOU PAID BY CASH OR BANK ACCOUNT: You can go to the Daviess County Clerk to file a small claims report.

Quote

Published: Mar. 4, 2024 at 6:56 PM CST|Updated: 18 hours ago

DAVIESS COUNTY, Ky. (WFIE) - After 35 years of business in Daviess County, Whittaker Guns posted a sign on their door which reads: “Closed to the Public.”

Without notice to customers who bought guns, multiple people claim they have unfulfilled orders, costing hundreds of dollars.

“This was my first time in the store,” customer Matthew Lonoski said.

Lonoski says he bought a gun at Whittaker because of the reputation.

“I heard it was the best place to buy a gun, so I went in there and bought one from the store, and then they closed down on me,” Lonoski said.

Unfortunately, he isn’t alone. Multiple people say they purchased a gun at the end of January / beginning of February, and they’ve yet to see the product they bought, or get a refund of what they paid.

“I was told when I ordered it two to two and a half weeks,” Lonoski said.

But that was just the beginning for Lonoski, and for Mason Richard. Both men bought a gun from Whittaker back at the beginning of February and were told it would be in come two and a half weeks’ time.

Both say they’d call the store weekly after that deadline.

“He said it wasn’t in, they couldn’t track it or anything, just to keep looking out for the email, to keep calling them back,” Richard said.

Now, they aren’t sure what to do next.

Lonoski says he was able to contest the charge on his card and get his money back. But for people who used their bank account or cash to pay, the road ahead looks much more difficult.

“I speak for everyone, we work pretty hard for our money,” Richard said. “To pay him [the owner] our money we work for and for us to not get the product and then him just to take that money, it hits hard you know.”

We reached out to the owner multiple times but have yet to hear back.

“It’s more than just frustration, you could’ve let us know that ‘we’re going to be closing down’, like this didn’t happen overnight,” Lonoski said. “They had to know something was coming prior to this month, or last month.”

Daviess County Sheriff Brad Youngman says although they’ve gotten calls, there isn’t anything criminal involved right now, so his office recommends folks to handle this in civil court.

If you’ve been affected by this closure, or you have an order yet to be filled, follow these steps:

IF YOU PAID BY CARD: Contact your bank and ask them to contest the charges.

IF YOU PAID BY CASH OR BANK ACCOUNT: You can go to the Daviess County Clerk to file a small claims report.

Copyright 2024 WFIE. All rights reserved.

They knew they were closing, they still let people order and pay for goods. Then go fouck off on their jet ski and not order the chit.
“Whoops, hey dawg lemme holla atcha, we dunn goan outta bidness”

Am I reading that that right?

Hey how bout giving me your riding lawn mower or something. WTF

Originally Posted by JamesJr

... But, I still liked shopping Whittakers, especially the original store ... I often went there just to browse, and handle rifles and shotguns that were out on the floor, ...

THIS ^^^^^ was the carrot for me to drive 8 hours round trip. I could handle the rifles. Get a feel whether I liked them or not. First time there in the old store, they had Dakotas out on the racks just like the Savages. Actually met Mrs. Whittaker once at the old store and mentioned the rifles being out. She said when her husband started the business, one of his premises was that he did not want customers to have to put down hard earned dollars for a firearm they had never handled. So, all of the long guns were out where customers could handle them. She seemed to be a very genuine person.

Originally Posted by joken2

... My concern for Derrik and family is I sincerely hope he didn't 'Bet the Farm' as collateral in buying into ownership / trying to stay 'afloat'...

Did THIS ^^^^^^ once. Ended up selling 2/3rds of the farm to cover the note. Hard lesson.

Originally Posted by slumlord

They knew they were closing, they still let people order and pay for goods. Then go fouck off on their jet ski and not order the chit.
“Whoops, hey dawg lemme holla atcha, we dunn goan outta bidness”

Am I reading that that right?

Hey how bout giving me your riding lawn mower or something. WTF

Possible.

But more likely, the business wasn't able ta support the 800 pound .gov monkey on its back.

I disagree. We would plan trips to Whitaker’s which is 30-40 minutes away. Upon getting done shopping we would go eat at a nearby restaurant, fill our fuel tank and those who use tobacco would buy cigs or dip and then we headed back across the river.
Whitaker’s brought a lot of shoppers to the area. Whitaker’s will be missed.

This looks to be another part of the puzzle, $106,000 in delinquent property taxes.

[Linked Image from i.postimg.cc]

I like what was purchased on the last line. meoooow