Garvin Racks is out of business
- Thread starter Obi-Wan
- Start date
M&A is at a screeching halt. Cost of money is very high, demand has fallen dramatically and margins are super tight with rising costs of labor and materials and shipping. I'm not going down the rabbit hole with anyone as to why, if you can't see why then only a BFH would help.
Just not enough to make these things work with cost of working capital etc. It's a reminder, if you can, but American and know your vendor, it makes a difference.
My point was more the IP and the name.
Shittybilt buys the rights and releases the Chinese made Garvin series.
Unfortunately, Chinese companies don't have a lot of interest in respecting IP. Why pay, just copy it - ish and produce through slave labor. Purchasing IP is for honest societies, just saying.
Easier just to copy and call the new racks "Gavin" rather than Garvin.
I have a pair of Grabbar lookalike grab bars sourced on Amazon branded "Opar" that came with a product sheet proudly displaying the slogan, "Make your jeep unique like everyone else's."
ejay
TJ Addict
I love Garvin racks and accessories. Have a pretty penny's worth of their stuff on my TJ and it is top quality; even after years of use. I hope they continue their product line. It was a decent family run company.
I also have original Grabars that sat in a box in my garage for many years that I recently installed. Also top quality.
I also have original Grabars that sat in a box in my garage for many years that I recently installed. Also top quality.
Just a heads up - I ordered a Expedition rack for my 99 TJ on January 22nd, 2025. There was a two week lead time for shipping, immediately after I placed the order my ship date started getting pushed back. My current estimated ship date in March 31, 2025 with delivery by April 10th, 2025.
I definitely want the Garvin so I'll wait but they could have been more accurate regarding their shipping. Oh yeah - they also don't answer the phone or respond to email - so there's that too.
I definitely want the Garvin so I'll wait but they could have been more accurate regarding their shipping. Oh yeah - they also don't answer the phone or respond to email - so there's that too.
Lot of this going around. Ballistic Fab just shut their doors as well.
DuckNut
TJ Enthusiast
DuckNut
TJ Enthusiast
Or you can sell your successful product on Amazon and they steal the design and undercut your price. Everything in their Amazon Basics line is someone else's stolen design.
Wheel Pros filed a Chapter 11 bankruptcy petition on September 8, 2024, the company's plan to reorganize debt was approved by all secured creditors and the bankruptcy court on October 15, 2024, and Wheel Pros emerged from bankruptcy on December 2, 2024.
DuckNut
TJ Enthusiast
That's what I said. I just did not go into all of the details.
I give them 2 years to be in existence.
I knew about that, but until just now, I had no idea how large their portfolio is. They own American Racing wheels, among others that I use. That one is bigger than I realized.
You clearly do not understand what happened with Wheel Pros, LLC or how debt restructuring in a Chapter 11 bankruptcy works.
Wheel Pros' Chapter 11 petition was forced by Wheel Pros' largest creditor, Strategic Value Partners, who used the procedure to increase its equity position. The reorganization eliminated approximately $1.2 billion of Wheel Pros’ debt, replaced with $500 million in secured debt and a $175 million asset-based revolving loan.
There was never any question about the long term viability of Wheel Pros LLC (now doing business as "Hoonigan") or its subsidiary businesses. What changed is that SVC now effectively controls Hoonigan/Wheel Pros.
DuckNut
TJ Enthusiast
I didn't read a single thing about their bk except what you just wrote. I recind my 2 year timeframe and replace it with 18 months.
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