Loki Out of Business?

[Brandi]

If this is really true I'm going to be upset. I bought a really nice Loki upper earlier this year and had no problems. I had ordered a matching custom lower from them a couple months ago and Erik was gung ho to make it for me and was supposed to be sending me my order number so I could send him the money but he never did. I contacted him a couple times asking about the order number and he said he'd have it soon. I never heard anything and my last 3-4 emails haven't been answered so I guess now I know why. At least he didn't send the order number and take my money, I suppose I should be happy about that. Still...I was really looking forward to having a matching set

 

[Glocktogo]

From reading that thread, it looks like Loki was billing customer's credit cards before they were ready to ship the products. That is a HUGE red flag. In many cases, it means that the company is paying their bills with your money, rather than delivering your product. Then someone else's money pays for your delivery. In the end, someone's gonna get hosed. I have a simple rule. If a company doesn't send me a shipping invoice within 5 business days of billing my card, I cancel the order and demand a refund to the card immediately. If they refuse, then I protest the charges with my CC company. Nothing a company makes is worth risking the loss of my payment!

Apparently naming the company after the trickster was somewhat prophetic.

 

[tharper]

Pretty sad this stuff still happens. Was reading a thread on a car forum I've frequented for years, and a sponsor there was doing the same thing, but the money values were substantially higher than Loki. One guy is down $22,000 to this company and has nothing to show for it, including his car that got totaled in a hurricane that hit the shop. I guess it sat there for almost 2 years 'getting done' and it all went into the crapper. Some pretty shady stuff going on. Guy will end up filing bankruptcy and end up scott free somehow I am sure.

 

[Brandi]

I'm still hoping it's not true and they're just swamped...

 

[owu1bag5]

That sucks. I still do not have my 4 lowers from a group buy with them. Guess I will never have them.

 

[KurtM]

The barrels were made by Mike Satern at Satern barrels. If you are looking for this barrel profile that is who I would contact....but be aware Mike Satern can be real flaky...makes great barrels, and I have never met anyone who got hosed by them, but the wait can be extended.

 

[SMS]

Are/Weren't they a subsidiary of Thor?

 

[ripnbst]

Probably not going to get those 4 lowers. I have a LOKI upper on my gun right now that I love. Got it in the GB we did here. That was over a year ago though.

I just went on their website to try and order a gun, just to see if I could. Yep, definitely still willing to take people's money...

 

[aestus]

I sang their praises and wasn't compensated for it. I ran a group buy last year and the qualtiy of the uppers for the price couldn't be beat. I've met Erik and spoken to him on numerous occasions and he's a great guy. I remember a phone conversation that lasted a couple hours and we just sort of geeked out about AR15 components and accessories, ideas about new accessories, and the firearms industry in general.

It sucks if they do close down. I hate to see any Oklahoma company close. It's easy for all of us to armchair how things went down with their business, but until you run a business yourself and make payroll, it's hard to understand that sometimes things go down the way not intended. Doesn't make the owner a bad person or a business a bad business. Mistakes happen and in this case means a whole company may shutdown. Would hate to be in their position right now.

 

[foghorn918]

Maybe the business is going through a reorganization and will be back. Sounds like their orders grew faster than they could manage. No company should process payment until the item actually ships. It sounds odd that the website would still process orders if a shutdown is in progress.

All you folks with Loki roll marks will have a piece of Oklahom firearms history. Just hope all who have made payment for items will get them before all is said and done.