Wyoming-based Gunwerks LLC is a highly visible producer of high-grade rifles, modern optics, and rifle accessories. Gunwerks had its own television show and operated upscale long-range shooting clinics and guided hunts. Now the company may be in tough financial straights.

K2radio.com reports that: “Wells Fargo Bank has sued the Cody-based custom-rifle maker Gunwerks, LLC, for $2.8 million for unpaid loans and wants the company’s equipment, according to federal court records filed Wednesday. Gunwerks … also owes $1 million to creditors and and for unpaid sales taxes, according to the complaint by the bank and Wells Fargo Equipment Finance, Inc., through its attorneys[.]”

For full details, we recommend you read the full 5/20/2020 news story from Wyoming Radio Station KTWO (K2) in Casper, Wyoming. That report provides extensive details of the legal claims by Wells Fargo. The lawsuit was filed in U.S. District Court for the District of Wyoming. View Court Documents HERE.

Wells Fargo’s complaint alleges that Gunwerks owes the bank roughly $2.8 Million. Wells Fargo further alleges that a Gunwerks financial report reveals that Gunwerks owes approximately $622,000 in creditors’ bills. The complaint also alleges Gunwerks owes $365,000 in unpaid state sales taxes.

Wells Fargo’s Motion for a Receiver states the loan amount owed is $2,783,757.82, with interest accumulating at more than $20,000 a month.

Wells Fargo is seeking to recover and secure inventory and other Gunwerks property used as collateral for the bank’s loans. The complaint filed in Federal Court alleges: “These circumstances require the immediate appointment of a receiver to recover, salvage, and retain the value of the Collateral.”

Wells Fargo has alleged that Gunwerks has already sold part of the collateral inventory and deposited the proceeds in different banks: “The Borrower has taken control of Wells Fargo’s collateral, refuses to disclose the names and addresses of account obligors for accounts that constitute collateral for Wells Fargo and has removed and refused to remit proceeds of Wells Fargo’s collateral to prevent such collateral from being applied to the Borrower’s loans[.]”

Gunwerks has not made a public statement about the situation: “What all this means for the company’s future and its employees is unknown. A Gunwerks’ spokesman did not return calls seeking comment.” (Source KTWO Report.)

Gunwerks is hosting its first Precision Rifle Series Match, the Monster Steel Challenge, in Cody, Wyoming, July 28-29, 2018. This will be a major match with very different experiences on Day One vs. Day Two. For your hefty $250 fee, you’ll get lots of action with 10 stages on Day One, followed by a “walk in the woods” in the Wyoming back-country on Day Two

The first match day, held at Cody Shooting Complex, will include 10 stages in a fast-paced, square, range-style set-up. Day Two, at Monster Lake Ranch, will provide competitors with a 270-degree fire fan allowing for some incredible vistas and challenging shots. For the practical competitor who enjoys the backcountry — this is as good as it gets.

Watch Monster Steel Challenge Match Preview:

“Gunwerks is very proud and excited to be hosting our first-ever Precision Rifle Series right here in our backyard,” Aaron Davidson, Gunwerks founder and CEO, said. “The courses will be challenging and the vistas that Wyoming will be offering the competitors will be outstanding.”

Match Restrictions on Gun Calibers and Ammo Velocity
As with most other PRS matches, the allowed span of calibers is .224 through .308 inclusive. No .338s and .375s gents. Velocities are limited to 3200 FPS for ALL calibers/chamberings. NOTE: If a competitor’s ammo speed is in question, he must shoot through a LabRadar to verify velocity. If the ammo exceeds 3200 FPS, the competitor will be automatically DQ’d (disqualified), with NO REFUNDS. Competitors will require 200 rounds for both days, plus extra for sight-ins or confirmation shots.

Slots for competitors are limited. Registration is available for a $250 non-refundable fee. For more info, contact Gunwerks (307-298-1313 or team@gunwerks.com), or visit www.gunwerks.com.

The rich prize table will include a complete rifle built by Gunwerks. Nice.

Cody, Wyoming is a beautiful Western locale, suitable for quality vacation time before or after the Monster Steel Challenge match. Photo courtesy City of Cody.

Event: Gunwerks 2018 Monster Steel Challenge
Location: Cody, Wyoming
Dates: July 28-29, 2018
Match Director: Phillip Velayo
Cost: $250 (no refunds)
Round count: 200, but bring more to confirm zero, etc.

Match Instructions
There are two completely different shooting areas with their own unique challenges. Day one will be 10 stages conducted at Cody shooting complex which will be a fast paced square range style set up to close down the competition. There will be 10 field fire stages shot by everyone on day two at Monster Lake Ranch. Monster Lake provides a unique, 270-degree fire fan that allows for some incredible vistas and challenging shots. The entire COF will be within shouting distance which will provide high drama coming down to the last few stages to see who will pull off the win. The highest round count stage will be 10. The only equipment restrictions are caliber and velocity. The speed limit is 3,200 fps for all calibers. Calibers allowed for this match are .224 to .308. If at anytime your speeds are in questioned, you will shoot through a LabRadar to verify your speed. If it’s over, automatic DQ no refunds. There will be only one stage brief at the beginning of each day. You will start as a squad but move as an individual from stage to stage. The COF will be simple and if you have any questions your R/O will answer them before you are put on the clock. You will be able to watch and learn while the shooters from the shooters in