Industry News
Genuine Guide Gear, also known as G3, is a well-respected player in the outdoor sports industry. It is particularly known for its high-quality backcountry skiing and snowboarding equipment. Founded in 1995 and based in Vancouver, British Columbia, G3 has built a reputation for designing innovative, reliable gear that caters to the needs of backcountry enthusiasts. Products include backcountry skis and splitboards, bindings, skins, avalanche safety gear, and more.
Now, the company is facing an uncertain future after a debt restructuring process was recently announced. According to court documents, the Supreme Court of British Columbia has ordered the accounting firm Deloitte to take over the company assets. They will then create a plan for liquidating the assets to meet the company’s obligations to the Royal Bank of Canada. Details about the size of G3’s debts are unknown but should be made public soon.
A banner on the company website says, “We are temporarily not taking new orders, please check back again later.” Additionally, many items in the online store are discounted, some as much as 70%.
This does not necessarily mean that G3 is going bankrupt, however the court-ordered debt restructuring is part of Canada’s Bankruptcy and Insolvency Act. As reported by Gear Junkie, some employees at the company have already changed their LinkedIn status to indicate they are open for work. The list includes a warehouse manager, a product development engineer, and an e-commerce manager who have all worked for the company for at least two years.
G3 is a trusted name in the backcountry skiing and snowboarding community. Focusing on innovation, performance, and safety, it has become a go-to brand for outdoor enthusiasts looking for reliable gear that can handle the demands of backcountry adventures. Let’s hope it can pull through the adversity.
