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Tackle Grab Out Of Buisness?

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This was discussed about two weeks ago in another thread. Just about the same title.

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It's no hoax. Here is the email I received from the company. Good thing I didn't loose too much money.

Dear Tackle Grab Members,

It is with great sadness that we have to inform you that Tackle Grab has to go out of business. While we did our best to deliver great products direct to your door for a reduced rate, the costs of running such a discount business eventually became too great to continue operations as we were unable to hit our milestones to bring the business to profitability.

We know that many of you will find this news upsetting and we apologize for having to bring this news to you. We started this business with the hope that we could attract tens of thousands of fishing enthusiasts, unfortunately, we did not reach that goal and the business became unsustainable as a result.

Because of this we have no other choice but to file for Chapter 7 Bankruptcy.

We are truly sorry.

The Tackle Grab Team

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Tis true, I got the same email and I'm pretty *ticked* off about it. 

 

I've never gotten any of these monthly fishing boxes before, but for my birthday last month, my fiance bought me a two month subscription to TG off Groupon. I signed up and was curious to see what I would get. Now it's obvious that they had Groupon selling subscriptions for them as a last ditch effort to make a few bucks and screw a bunch of people over. 

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What I'm getting out of it is at the end of their days, they ran a groupon campaign to get people to sign up for multi month subscriptions, and then filed for Chapter 7. 

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That sucks... 

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It's no hoax. Here is the email I received from the company. Good thing I didn't loose too much money.

Dear Tackle Grab Members,

It is with great sadness that we have to inform you that Tackle Grab has to go out of business. While we did our best to deliver great products direct to your door for a reduced rate, the costs of running such a discount business eventually became too great to continue operations as we were unable to hit our milestones to bring the business to profitability.

We know that many of you will find this news upsetting and we apologize for having to bring this news to you. We started this business with the hope that we could attract tens of thousands of fishing enthusiasts, unfortunately, we did not reach that goal and the business became unsustainable as a result.

Because of this we have no other choice but to file for Chapter 7 Bankruptcy.

We are truly sorry.

The Tackle Grab Team

 

There is something wrong with their math.  If they lost money on X number of "members/customers", if they had twice as many, they would have lost twice as much or the same loss in half the time.

 

A fellow that owned the company from which I purchased fiberglass product once wrote an article in a business magazine.  He wrote that it did not take him long to realize that if he was losing money on the sale of a product that he would lose it twice as fast if he could double the sales.

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There is something wrong with their math.  If they lost money on X number of "members/customers", if they had twice as many, they would have lost twice as much or the same loss in half the time.

 

A fellow that owned the company from which I purchased fiberglass product once wrote an article in a business magazine.  He wrote that it did not take him long to realize that if he was losing money on the sale of a product that he would lose it twice as fast if he could double the sales.

 

But, you are failing to see that with greater numbers/subscribers you should be able to get better discounts because of the larger quantities being bought.  Therefore, increasing profit margins.  This is the principle that I have used for the past 15 years in sales and supply chain management.

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There was a thread on here recently about this same topic.  It was unfortunately locked.  This is one case where it probably would have been good to keep it going as it sounds like people recently signed up and have now lost money.  Such a shame that a company would continue to accept subscriptions for a service they knew they were going to stop providing.  I just hope nobody lost too much money with them.

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I got robbed by the NAFC. They ran a special for lifetime memberships. Payments over a 12 month period and you received gifts at certain levels. Well I got a couple little trinkets at first but as I came closer to full payment gifts stopped. When I finally paid in full I got nothing. B en emailing and everything to the new owners and they will not even reply. Seems like it happened to a lot of guys.

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I'm always a little Leary of anything on groupon. We have a thing called spin saver and every time me and my wife got a restaurant deal they always stunk. Just saying

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MTB and LTB are better anyway :)

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so i did the $5 box in late may and never received it, hadn't actually thought about it until i get the email that $15 was sent to tackle grab last night via paypal and it will continue monthly until cancelled.  trying to cancel this as i remembered getting the above email, i had figured i'd automatically be undone and didn't even remember the five buck thing from a month ago in may.  when i try to go to there website, all i get is the same message from the email.  they're trying to collect their money for that bankruptcy by charging everyone without giving them product!

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