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MAtrix is closing itís doors....


193 replies to this topic

#1 Papa Johick

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Posted 13 October 2017 - 05:09 PM

Any one see this? Wonder what happened.

Big Changes Coming Soon

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#2 the bishop

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Posted 13 October 2017 - 05:12 PM

Link?
Ping G400 - Tour 65 - S
TM tour issue M1 15* (2016) - Maltby MPF Series FW - S
Maltby KE4 Tour 19*/22* - Kuro Kage Blk Hy80 - S
W/S FG62 5-P DGS300
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#3 caniac6

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Posted 13 October 2017 - 05:14 PM

What is it? Never heard of it.

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#4 Papa Johick

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Posted 13 October 2017 - 05:20 PM

Posted on twitter by another golf forum. Apparently itís just a weekend thing while they figure stuff out financially. No actually news link.

Caniac, maxtrix as in matrix shafts.
Big Changes Coming Soon

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#5 caniac6

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Posted 13 October 2017 - 05:26 PM

View PostPapa Johick, on 13 October 2017 - 05:20 PM, said:

Posted on twitter by another golf forum. Apparently it's just a weekend thing while they figure stuff out financially. No actually news link.

Caniac, maxtrix as in matrix shafts.
Thanks


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#6 KYMAR

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Posted 13 October 2017 - 05:27 PM

Copied and pasted


To clarify the post written earlier today, Matrix is not closing. Certainly these past several years have been challenging for most of us in the golf industry and we are no different. We do find ourselves in a position where we must work with our bank to ensure that their future needs are met as well as ours. In this, the aforementioned order pertains only to our doors being closed today and possibly Monday as we work with our bank on a mandated comprehensive inventory count and work together to facilitate a collaborative strategy to meet our mutual needs moving forward. That being said, we are bullish about our new MARU and Altus Tour line of products and look forward to continuing to provide great product to all of our customers for many years to come."

Sincerely,

Chris Elson
President

Edited by KYMAR, 16 October 2017 - 12:21 PM.

Callaway XR Pro Attas Tour SPX X
Taylormade Tour issue 15* V Steel 3 wood
Hybrid undecided   
Cobra Amp Cell Pro's (All MB) 4-GW Project X Rifle 6.0   
Cleveland CG15 56 and 60   
White Hot 6 Long Neck

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#7 Papa Johick

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Posted 13 October 2017 - 05:30 PM

Thanks kymar. Just saw that myself
Big Changes Coming Soon

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#8 dcopp7

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Posted 13 October 2017 - 06:13 PM

I just bought a Matrix Ozik new shaft for $20 from dailygolfdeals
Ping G5 9* with UST Comp 65 or Cobra SS350 10.5* with Matrix Ozik 5.5

Callaway Steelhead Plus 13.5* 3+W

Cleveland Launcher 3W 15*

Synchron Vespa 19* hybrid or Dunlop Pro 18* driving iron

unknown brand 24* hybrid

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#9 KYMAR

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Posted 13 October 2017 - 06:13 PM

Well, if you saw that the same place I did, keep reading. haha.

Reading things like "locks changed on the doors" and employees don't know if they are supposed to come to work next week.

either way, not good.
Callaway XR Pro Attas Tour SPX X
Taylormade Tour issue 15* V Steel 3 wood
Hybrid undecided   
Cobra Amp Cell Pro's (All MB) 4-GW Project X Rifle 6.0   
Cleveland CG15 56 and 60   
White Hot 6 Long Neck

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#10 the bishop

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Posted 13 October 2017 - 06:35 PM

View PostKYMAR, on 13 October 2017 - 05:27 PM, said:

To clarify the post written earlier today, Matrix is not closing. Certainly these past several years have been challenging for most of us in the golf industry and we are no different. We do find ourselves in a position where we must work with our bank to ensure that their future needs are met as well as ours. In this, the aforementioned order pertains only to our doors being closed today and possibly Monday as we work with our bank on a mandated comprehensive inventory count and work together to facilitate a collaborative strategy to meet our mutual needs moving forward. That being said, we are bullish about our new MARU and Altus Tour line of products and look forward to continuing to provide great product to all of our customers for many years to come."

Sincerely,

Chris Elson
President
Damn.  Just as I'm thinking about putting a White Tie in one of my drivers.  Better hurry!

Ping G400 - Tour 65 - S
TM tour issue M1 15* (2016) - Maltby MPF Series FW - S
Maltby KE4 Tour 19*/22* - Kuro Kage Blk Hy80 - S
W/S FG62 5-P DGS300
W/S PMP Raw 52/56/60 KBS Hi-Rev 2.0
Scotty Newport Pro Platinum Mil-Spec

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#11 Fairwindsgolfer

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Posted 13 October 2017 - 06:43 PM

View PostKYMAR, on 13 October 2017 - 05:27 PM, said:

To clarify the post written earlier today, Matrix is not closing. Certainly these past several years have been challenging for most of us in the golf industry and we are no different. We do find ourselves in a position where we must work with our bank to ensure that their future needs are met as well as ours. In this, the aforementioned order pertains only to our doors being closed today and possibly Monday as we work with our bank on a mandated comprehensive inventory count and work together to facilitate a collaborative strategy to meet our mutual needs moving forward. That being said, we are bullish about our new MARU and Altus Tour line of products and look forward to continuing to provide great product to all of our customers for many years to come."

Sincerely,

Chris Elson
President

Chris,
Thank you for your transparency and forthright information.

Best of luck with Matrix and here's to the tides turning in a positive way.

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#12 MtlJeff

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Posted 13 October 2017 - 06:51 PM

Oh man.....RIP Black Tie. My second favorite driver shaft of all time
Callaway Epic SubZero 8 w/Diamana D+ 70
Callaway XR Pro 14 w/Diamana D+ 80
Callaway Steelhead XR 18 degree w/S300
Callaway Apex Pro 4-PW w/S300
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#13 KYMAR

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Posted 13 October 2017 - 07:28 PM

View PostFairwindsgolfer, on 13 October 2017 - 06:43 PM, said:

View PostKYMAR, on 13 October 2017 - 05:27 PM, said:

To clarify the post written earlier today, Matrix is not closing. Certainly these past several years have been challenging for most of us in the golf industry and we are no different. We do find ourselves in a position where we must work with our bank to ensure that their future needs are met as well as ours. In this, the aforementioned order pertains only to our doors being closed today and possibly Monday as we work with our bank on a mandated comprehensive inventory count and work together to facilitate a collaborative strategy to meet our mutual needs moving forward. That being said, we are bullish about our new MARU and Altus Tour line of products and look forward to continuing to provide great product to all of our customers for many years to come."

Sincerely,

Chris Elson
President

Chris,
Thank you for your transparency and forthright information.

Best of luck with Matrix and here's to the tides turning in a positive way.

Yeah,not sure if you`re thinking this or not but just to be totally clear I am not Chris Elson. I just copied and pasted what he wrote.

Jeff your fav still the Axe tour?

Edited by KYMAR, 13 October 2017 - 07:39 PM.

Callaway XR Pro Attas Tour SPX X
Taylormade Tour issue 15* V Steel 3 wood
Hybrid undecided   
Cobra Amp Cell Pro's (All MB) 4-GW Project X Rifle 6.0   
Cleveland CG15 56 and 60   
White Hot 6 Long Neck

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#14 Papa Johick

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Posted 13 October 2017 - 07:33 PM

Oh boy. Yep just read even more and itís looking grim for them. Iím no creditor or financing expert though.


Big Changes Coming Soon

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#15 Llortamaisey

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Posted 13 October 2017 - 07:42 PM

I can’t imagine they have that much overhead or employees. Hopefully that means they can bounce back.


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#16 Belmont148

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Posted 13 October 2017 - 08:00 PM

Great, just got fit and my Black Tie was the best. Maybe I should grab a new version in a couple of weights for future drivers and woods. I would think they would be on sale if they are going out, correct?
Current Bag:

G400 SFT 10* Aldila Rogue 125 Silver 60TS
Cobra F7 3W Aldila Rogue Silver 70S
F6 Baffler 17.5* Aldila Rogue Black 70 stiff
Ping G25 3H and 4H Stock R Flex
Ping I200 5-UW Project X LZ 5.5
MD Forged 56* S200
Scotty Studio Stainless Newport 2

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#17 golfgirlrobin

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Posted 13 October 2017 - 08:37 PM

Bank mandated inventory is what happens after they've frozen your line of credit.  When your bank wants to know how you spent their money, that is dire.
Driver:     Ping G400 Max 10.5*
Fairway:  Callaway Rogue 15*, 20* & 24*
Irons:       TaylorMade M CGB 6-AW
Wedges:  Callaway Mack Daddy Forged 54*
                Callaway PM Grind 58* & 64*
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#18 Golf64

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Posted 13 October 2017 - 08:42 PM

Smoke, fire!? Matter of time?! Just like Sears here in Canada. As of Jan. 22 '18, she is gone! :(
Ping Hoofer
Bag under construction(Fit @ TXG)
Q-Star


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#19 MtlJeff

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Posted 13 October 2017 - 08:43 PM

View PostKYMAR, on 13 October 2017 - 07:28 PM, said:

View PostFairwindsgolfer, on 13 October 2017 - 06:43 PM, said:

View PostKYMAR, on 13 October 2017 - 05:27 PM, said:

To clarify the post written earlier today, Matrix is not closing. Certainly these past several years have been challenging for most of us in the golf industry and we are no different. We do find ourselves in a position where we must work with our bank to ensure that their future needs are met as well as ours. In this, the aforementioned order pertains only to our doors being closed today and possibly Monday as we work with our bank on a mandated comprehensive inventory count and work together to facilitate a collaborative strategy to meet our mutual needs moving forward. That being said, we are bullish about our new MARU and Altus Tour line of products and look forward to continuing to provide great product to all of our customers for many years to come."

Sincerely,

Chris Elson
President

Chris,
Thank you for your transparency and forthright information.

Best of luck with Matrix and here's to the tides turning in a positive way.

Yeah,not sure if you`re thinking this or not but just to be totally clear I am not Chris Elson. I just copied and pasted what he wrote.

Jeff your fav still the Axe tour?

D+ is the Jeff GOAT
Callaway Epic SubZero 8 w/Diamana D+ 70
Callaway XR Pro 14 w/Diamana D+ 80
Callaway Steelhead XR 18 degree w/S300
Callaway Apex Pro 4-PW w/S300
Callaway MD Forged 52,56,60 w/S300
Odyssey O-Works #7 Red Tank

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#20 SubaruWRX

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Posted 13 October 2017 - 08:51 PM

As much as I like some of the Matrix shafts, I won’t be buying any just in case I have any warranty issues. Unless they go on a fire sale and clear them out for bottom dollar. In that case I’ll get backup shafts for my fairway woods and hybrid.

ďI think getting advice from guys who are sitting at the computer in their underwear while taking a break from porn is a very solid way to choose clubs.Ē - bluedot

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#21 J13

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Posted 13 October 2017 - 10:01 PM

Sounds like they don't have positive cash flow and the bank is potentially going to default.  Hard position to be in and you might see them file soon.
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#22 new2g0lf

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Posted 13 October 2017 - 10:12 PM

View PostJ13, on 13 October 2017 - 10:01 PM, said:

Sounds like they don't have positive cash flow and the bank is potentially going to default.  Hard position to be in and you might see them file soon.

That's a lot of speculation.  Banks typically review lines of credit, especially if it's at it's limit, below current interest rates or the business is behind in payments.  So long as Matrix didn't default, there is the potential that they can secure another line of credit (though likely at a higher interest rate) from the same or another source.  Matrix may have some Accounts Receivable issues given what's happened recently with GolfSmith and Adidas selling off Taylor Made.
Driver - XXIO 9 10.5*
Woods - XXIO 9 3W
Hybrids - XXIO 9 3H, 4H, 5H
Irons - Home - Callaway Epic 5-SW Away - TM P790 5-AW
Wedge - Vokey TVD 56* K Grind
Putter - Seemore Nashville mFGP2 SS Mallet Black
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#23 Kingcat990

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Posted 13 October 2017 - 10:21 PM

View PostMtlJeff, on 13 October 2017 - 06:51 PM, said:

Oh man.....RIP Black Tie. My second favorite driver shaft of all time

Very ambiguous of you. What's the first?
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#24 ZBigStick

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Posted 13 October 2017 - 10:36 PM

Interesting, they are a stock option on the 2017 M2 D-Type but not much else.
They’ve had some innovative shafts and graphics, but a precipitous fall from $1000 shafts and lime green special editions.
M4 9.5˚(10˚) GD TP-6
BB Alpha 816 16˚(15˚) Rogue I/O 70
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#25 ZBigStick

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Posted 13 October 2017 - 10:40 PM

View PostSubaruWRX, on 13 October 2017 - 08:51 PM, said:

As much as I like some of the Matrix shafts, I won’t be buying any just in case I have any warranty issues. Unless they go on a fire sale and clear them out for bottom dollar. In that case I’ll get backup shafts for my fairway woods and hybrid.
Do any shaft OEMs warranty their products?!
If you install an aftermarket shaft and it breaks, you’ve had a shaft replaced?  Only seen factory installed shafts warrantied through the club manufacturer in certain cases.

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BB Alpha 816 16˚(15˚) Rogue I/O 70
Apex 20˚ Kuro Kage Black 80

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#26 hardcaliber

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Posted 13 October 2017 - 10:55 PM

The shaft game is weird, it's really all about buzz and momentum. Matrix had it for a while and completely lost it. When was the last time you heard any buzz about a matrix product on here? Graphite Deisgn had it for a while but I feel like they are starting to cool off. Prices are coming down a lot on eBay and I'm practically giving away some Tour AD shafts I'm selling. I wonder who the next hot ticket will be? Seems like Project X and maybe Mitsubishi are hot.  No one seems to give a crap about Speeders or Attas right now either.

Edited by hardcaliber, 13 October 2017 - 10:55 PM.


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#27 benno_r

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Posted 13 October 2017 - 11:14 PM

View Posthardcaliber, on 13 October 2017 - 10:55 PM, said:

The shaft game is weird, it's really all about buzz and momentum. Matrix had it for a while and completely lost it. When was the last time you heard any buzz about a matrix product on here? Graphite Deisgn had it for a while but I feel like they are starting to cool off. Prices are coming down a lot on eBay and I'm practically giving away some Tour AD shafts I'm selling. I wonder who the next hot ticket will be? Seems like Project X and maybe Mitsubishi are hot.  No one seems to give a crap about Speeders or Attas right now either.

It can be good for consumer (well me in anyway). Got an Attas 6star, G7, Punch, and Speeder Evolution for peanuts.
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#28 sneaky_pete

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Posted 14 October 2017 - 06:02 AM

hope they can pull through and survive.
Ping G 9* Matrix Ozik HD 6M3 Black Tie Shaft X-Stiff
Adams Speedline Super S Fairway 15* Matrix Ozik HD Radix S VI Shaft Stiff Flex
Mizuno Fli-Hi II 18* Driving Iron Mizuno Exsar Shaft Stiff Flex
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Cleveland CBX 46*, 52* & 58* Wedges True Temper Dynamic Gold 115 Wedge Shaft
Cleveland Smart Square TFI RHO fitted with Iomic Midsize Grip (Black)
Grips:  Lamkin UTX Midsize (Black)
Ball:  Srixon Z-Star (Yellow) or Wilson Staff FG Tour
GPS: Sonocaddie V300
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#29 J13

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Posted 14 October 2017 - 07:14 AM

View Postnew2g0lf, on 13 October 2017 - 10:12 PM, said:

View PostJ13, on 13 October 2017 - 10:01 PM, said:

Sounds like they don't have positive cash flow and the bank is potentially going to default.  Hard position to be in and you might see them file soon.

That's a lot of speculation.  Banks typically review lines of credit, especially if it's at it's limit, below current interest rates or the business is behind in payments.  So long as Matrix didn't default, there is the potential that they can secure another line of credit (though likely at a higher interest rate) from the same or another source.  Matrix may have some Accounts Receivable issues given what's happened recently with GolfSmith and Adidas selling off Taylor Made.

Even if Matrix didn't default a single payment but instead they owe manufactures large sums of money they are in serious trouble.  They buy paint, resin, fiber from someone and no doubt owe them.  You're right though it's all speculation on my part just throwing possible scenario's out there.     I doubt it's about accounts receivable though, Matrix got a big reduction in cash flow when Fuji took over the stock shaft market.
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#30 Matt J

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Posted 14 October 2017 - 07:32 AM

View Postnew2g0lf, on 13 October 2017 - 10:12 PM, said:

View PostJ13, on 13 October 2017 - 10:01 PM, said:

Sounds like they don't have positive cash flow and the bank is potentially going to default.  Hard position to be in and you might see them file soon.

That's a lot of speculation.  Banks typically review lines of credit, especially if it's at it's limit, below current interest rates or the business is behind in payments.  So long as Matrix didn't default, there is the potential that they can secure another line of credit (though likely at a higher interest rate) from the same or another source.  Matrix may have some Accounts Receivable issues given what's happened recently with GolfSmith and Adidas selling off Taylor Made.

Very logical.  Almost out of place here.

I don't know why they'd release a presser about taking inventory even if reviewing it with a lender?  Seems like there's more to the story.  Hopefully it works out.  I like competition in that market.

::Going straight to the BST to check GD prices::


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