What Happened to BlackOvis and Camofire? The Complete Story

BlackOvis and Camofire didn't start in a boardroom.

They started with two friends, a layoff, a basement, a few thousand dollars of inventory and an idea for a hunting deal website.

Over the next 17 years, Kendall Card and Mark built Camofire and BlackOvis into major names in western hunting ecommerce. The businesses grew to more than $30 million in annual revenue, employed dozens of people and developed relationships throughout the hunting industry.

Then everything changed.

Private equity entered the business. Control shifted. Debt increased. Inventory grew. Leadership changed. The post-COVID outdoor market softened. Banking and financing became increasingly difficult.

On October 20, 2025, BlackOvis and Camofire filed Chapter 7 bankruptcy.

But that's the short version.

In a four-part First Generation Bowhunter interview series, host Adam Buchanan sat down with BlackOvis and Camofire co-founder Kendall Card to walk through the entire journey from Kendall's perspective: how the companies were created, why private equity entered the business, what changed afterward, the final months before bankruptcy and the aftermath nobody expected.

Kendall's account represents his perspective and recollection of events. Other people involved may have different perspectives on decisions and circumstances described throughout the series.

Watch the BlackOvis and Camofire Story

Start with Part 1 of the four-part First Generation Bowhunter interview with Kendall Card.

Subscribe to First Generation Bowhunter on YouTube →

How Did Camofire Start?

The BlackOvis story begins before BlackOvis existed.

In 2007, Kendall Card was working at Backcountry.com when he was let go during a round of layoffs. He called his wife with the news and then called his friend and future business partner, Mark.

They started talking about creating something of their own. Several ideas were considered, including getting close to starting a property management company in Park City.

Then came another idea: build something similar to the outdoor flash-sale websites beginning to gain popularity, but specifically for hunters.

Kendall initially questioned whether enough hunters were shopping online to make it work.

They decided to try anyway.

Read the complete Part 1 story →

Camofire Almost Didn't Happen

Before the company could officially launch, Mark's son was born with a serious heart condition.

The business understandably became much less important.

At one point, Mark told Kendall he needed to abandon the idea, find stable employment and focus on taking care of his family.

Kendall thought the Camofire idea was over.

Then his wife challenged him. Kendall remembers her essentially telling him that if they didn't at least try to launch the business, he might spend the rest of his life wondering whether it could have worked.

Kendall called Mark back.

They kept going.

Camofire Launched During the 2008 Financial Crisis

Camofire officially launched in October 2008.

That sounds like terrible timing for a new company, but the financial crisis unexpectedly created an ideal environment for the Camofire model.

Retailers were struggling. Orders were being canceled. Outdoor brands were sitting on excess inventory and needed ways to move it.

Camofire was built to do exactly that.

The founders didn't have millions of dollars behind them. Kendall remembers roughly $5,000 to $7,000 from a tax refund being used to help purchase early inventory.

Product was stored in the house. Orders were packed in the basement and garage.

The first Camofire customer was a friend who bought a piece of camouflage clothing just to support the new business.

She also discovered that the website wasn't charging shipping correctly.

They fixed it and kept moving.

Camofire Grew Through Email, Deals and Word of Mouth

Camofire didn't have a huge advertising budget.

Email became one of the company's most valuable growth tools.

Hunters voluntarily joined the list to see the latest deals. Customers told other hunters. Brands told other brands. Relationships throughout the hunting industry began creating additional inventory opportunities.

Kendall describes a clear relationship between the size of the email audience and the amount of business Camofire generated.

The company also placed significant importance on customer trust. Kendall says Camofire didn't buy email lists and didn't automatically subscribe customers simply because they made a purchase.

Word of mouth kept growing.

Sitka Helped Accelerate Camofire

One of the biggest early opportunities involved Sitka Gear.

According to Kendall, Sitka was left with a significant amount of inventory after another retailer declined to take product it had previously committed to purchase.

Camofire began buying what it could.

Hunters responded.

Some Sitka deals sold extremely quickly. Kendall describes working late into the night manually loading products, taking photos, writing descriptions and making new deals live.

Sometimes the business was growing faster than the systems behind it.

But the little basement hunting website was working.

Then Came Core4Element

Camofire's growth revealed another opportunity.

Kendall and Mark created their own hunting apparel brand called Core4Element.

They were no longer only selling excess inventory from other companies. They were developing their own product.

But Camofire required focus. Core4Element required focus. And another idea was waiting on the sidelines.

BlackOvis.

Eventually Easton approached the founders about purchasing Core4Element. Kendall and Mark initially weren't looking to sell, but a deal eventually came together.

That allowed them to concentrate on Camofire and BlackOvis.

Why Was BlackOvis Created?

Camofire had a very specific identity.

Deals. Closeouts. Limited opportunities.

But Kendall and Mark wanted deeper relationships with hunting brands. They didn't want to work with a company only when it had old inventory to liquidate.

They wanted to sell current products too.

Trying to make Camofire both a traditional retailer and a flash-sale site risked confusing the brand.

So they created BlackOvis.

Camofire could remain focused on closeouts.

BlackOvis could become the traditional western hunting retailer.

BlackOvis Grew Into a Major Western Hunting Retailer

BlackOvis expanded into hunting apparel, footwear, archery equipment, optics and other western hunting gear.

The company also began developing BlackOvis-branded products.

Merino apparel became part of the assortment. Additional private-label products followed.

Those products gave BlackOvis more control over pricing, margins and product development.

Meanwhile, relationships with hunting brands continued expanding.

What had started in a basement had become a significant ecommerce company with employees, warehouses, brands, inventory and millions of dollars in annual sales.

Eventually, Kendall says BlackOvis and Camofire were generating more than $30 million in annual revenue.

Success Created a Different Kind of Problem

Managing a business with dozens of employees is very different from shipping orders out of a garage.

The founders were getting older. Their families were changing. Their responsibilities were changing.

The company was becoming much more complicated.

COVID then accelerated outdoor recreation spending and created another major wave of growth.

But Kendall was also discovering something about himself.

He loved building businesses.

Managing a large organization wasn't necessarily what he wanted to do for the rest of his career.

For years, outside investors had approached the founders and been turned away.

This time, Kendall and Mark started listening.

Why Did Private Equity Enter BlackOvis and Camofire?

From an investor's perspective, BlackOvis and Camofire represented an intriguing opportunity.

The businesses had grown from essentially zero to more than $30 million in annual revenue.

Could they become a $50 million company?

Could they become a $100 million company?

Outside capital could potentially accelerate growth.

For the founders, however, the transaction also offered the opportunity to reduce some of the financial and personal risk they had accumulated after more than a decade of building the companies.

Mark increasingly wanted to focus on Crispi.

Kendall stayed with BlackOvis and Camofire.

That's where the story becomes significantly more complicated.

Read Part 2: The Price of Private Equity →

Kendall Didn't Simply Sell BlackOvis and Walk Away

The transaction wasn't a traditional founder exit.

According to Kendall, he owned approximately 44.5% before the transaction and retained roughly 40% afterward.

He was still deeply financially tied to the future of BlackOvis and Camofire.

But the outside investors received control.

That distinction matters throughout the rest of the story.

Kendall remained a major shareholder.

He remained one of the people most publicly associated with the company.

He became CEO.

But he no longer had ultimate control over the company he had helped create.

What Changed After Private Equity?

One of the biggest differences was financial philosophy.

Kendall and Mark had historically operated conservatively.

If there was money available, the business could spend it.

If there wasn't, it generally didn't.

The new structure introduced greater use of borrowed capital.

The company gained access to a significant line of credit. Debt could be used to purchase inventory and support growth. Additional businesses could potentially be acquired. More systems and people could be added.

That strategy isn't inherently unusual.

But it was very different from the operating philosophy Kendall had developed over more than a decade.

The Goal Became Bigger

The investors saw substantial growth potential.

Kendall recalls discussions around taking a business that had grown beyond $30 million toward something closer to $100 million.

His reaction was much more cautious.

He knew how difficult it had been to reach the current scale.

He was also becoming less certain that maximizing company size was what he personally wanted.

Everyone wanted BlackOvis to succeed.

The increasingly important question was what success should look like.

The Post-COVID Outdoor Market Changed

COVID created extraordinary demand for outdoor recreation products.

Companies across the industry increased inventory to keep up.

Then consumer behavior changed.

The surge didn't continue indefinitely.

Retailers throughout the outdoor industry found themselves holding more product than they needed.

BlackOvis wasn't immune.

Kendall openly accepts responsibility for parts of this period. He believes the company purchased too much inventory and wishes there had been stronger accountability around buying.

He also wishes he'd pushed back harder against spending decisions he disagreed with.

By late 2023 and 2024, excess inventory had become a serious challenge.

Leadership at BlackOvis Changed

Kendall officially stepped down as CEO in January 2024.

New leadership with restructuring experience took a larger role.

The company's priorities shifted.

Inventory needed to come down.

Expenses needed to come down.

Headcount was reduced.

BlackOvis needed to stabilize.

Kendall gives credit to the people who worked through this period and helped improve the company's position.

But personally, he was becoming increasingly disconnected from the company.

The Family Moment That Changed Kendall's Perspective

One moment at a family dinner became especially important.

Kendall's youngest daughter announced that she had made her high school's varsity soccer team as a freshman.

Kendall told her how proud he was and said he couldn't wait to watch her play.

Then his oldest son responded:

Don't count on it.

His son remembered Kendall attending only one of his games during four years.

Kendall believes he attended more than one.

But he also realized that wasn't really the point.

That was how his son remembered it.

Kendall had spent roughly 16 years building companies. There were things the business had given him, but there were also moments it had taken that couldn't simply be recovered later.

Kendall Decided He Wanted Out

By early 2025, Kendall had reached his limit.

He didn't necessarily want to immediately eliminate every ownership connection to the company, but he no longer wanted to run it day to day.

He dramatically reduced his role.

He voluntarily reduced his salary to approximately $48,000.

Ironically, after roughly 16 years of building Camofire and BlackOvis, his ending salary was almost exactly where his beginning salary had been.

The goal was to come into the office occasionally, work on product, create content and help with areas he still enjoyed.

Then another crisis arrived.

Tariffs Created Another Major Problem

In April 2025, tariff uncertainty hit products manufactured in China.

That mattered significantly to BlackOvis because much of its private-label merchandise was being manufactured overseas.

The company had to consider difficult questions.

Would existing product suddenly become dramatically more expensive?

Should production move to other countries?

Could the company afford existing commitments?

Would enough BlackOvis inventory arrive for the rest of the year?

At the same time, the company was already working through another problem.

Its banking relationship.

The Banking Situation Became Critical

BlackOvis needed another lender.

According to Kendall, the company got extremely close.

A new bank was prepared to take over the existing debt and provide a new line of credit.

The parties were roughly a day away from signing.

Then the deal fell apart.

BlackOvis continued trying to create a financial path forward.

The existing bank wanted additional equity supporting the business.

Kendall personally contributed additional money.

Other investors considered contributing.

Then an issue surrounding the bank's UCC filing made the timing significantly more important.

Read Part 3: The complete road to bankruptcy →

Why Did the UCC Filing Matter?

A UCC financing statement can establish a lender's secured interest in business assets.

Secured status can significantly affect priority among creditors when a business fails.

According to Kendall's account, questions arose during the summer of 2025 about whether the company's lender had properly maintained its secured position.

A new filing was made.

That created a period where timing became critically important to the treatment of the lender and other creditors if bankruptcy occurred.

Kendall recalls October 22 as the important date being discussed.

The closer BlackOvis got to that deadline without solving its capital problem, the fewer options appeared to remain.

BlackOvis Was Trying to Reinvent Itself

The company wasn't simply trying to continue operating exactly as it had before.

There was a new strategy.

Reduce the number of outside brands dramatically.

Focus more heavily on BlackOvis-branded apparel and equipment.

Carry less inventory.

Accept lower gross revenue.

Improve margins.

Become smaller but potentially more profitable.

Instead of chasing $30 million or $100 million in revenue, Kendall describes a plan that could eventually bring annual revenue closer to the $15 million to $16 million range while generating healthier profitability.

The challenge was surviving long enough to execute it.

BlackOvis Needed More Time

The company continued trying to raise additional money.

Kendall had contributed.

Other investors were involved.

Another potential investor was expected to contribute capital but experienced an unrelated commercial real estate problem that delayed the investment.

Meanwhile, Kendall says Q3 results were improving and repayment arrangements had been negotiated with brands.

There appeared to be a possible path.

But BlackOvis needed time.

Leadership asked the bank for roughly another 90 days.

The bank wasn't willing to provide one of the major concessions the company believed it needed.

Why Did BlackOvis File Bankruptcy?

There isn't one simple answer.

Based on Kendall's account, several factors converged:

• Excess inventory following the COVID outdoor boom
• Increased debt and financial leverage
• Different philosophies between founders and outside investors
• Leadership transitions
• Reduced liquidity
• A deteriorating banking relationship
• Challenges refinancing company debt
• Tariff uncertainty affecting private-label inventory
• Difficulty raising additional equity quickly enough
• The timing surrounding creditor positions
• A failed effort to secure additional time

Eventually, the decision went to the board.

Kendall Wouldn't Vote for Bankruptcy

Kendall says he refused to vote in favor of bankrupting the company he'd spent 17 years helping build.

According to his recollection, he was told his vote wasn't required for the board to proceed.

He made one final request.

If BlackOvis had to close, let the company handle the liquidation itself.

Use Camofire.

Use the existing systems.

Sell the inventory.

Take care of people as best they could.

In Kendall's words, let them do it honorably.

That wasn't the path ultimately taken.

BlackOvis and Camofire Filed Chapter 7 Bankruptcy

The decision was made on Friday, October 17, 2025.

The websites were shut down to prevent new orders from coming in.

But customer orders were still waiting.

Kendall and a small group of employees came back to work.

They picked orders.

Packed boxes.

Shipped product.

According to Kendall, every remaining Camofire order was shipped and nearly all BlackOvis orders were shipped as well.

The small number of remaining affected BlackOvis orders were canceled and refunded before the filing.

Kendall's wife shipped the final package.

On October 20, 2025, BlackOvis and Camofire filed Chapter 7 bankruptcy.

Why Chapter 7 Instead of Chapter 11?

Chapter 11 can allow a business to restructure and continue operating.

Chapter 7 generally means liquidation.

According to Kendall, BlackOvis didn't have enough available capital to realistically pursue Chapter 11.

Restructuring requires money. The company would need to keep operating while negotiating with creditors, paying professionals and creating a viable reorganization plan.

The decision was made to pursue Chapter 7 instead.

For most people watching from the outside, that appeared to be the end of BlackOvis.

For Kendall, the hardest part may have been beginning.

Read Part 4: The Unanticipated Aftermath →

What Happened After BlackOvis Filed Bankruptcy?

Shortly before the filing, Kendall learned that he and Mark were still personally tied to the BlackOvis warehouse lease.

He had assumed the lease obligations had changed when the corporate structure changed.

According to Kendall, approximately 15 to 16 months remained on a lease costing more than $40,000 per month.

The company was bankrupt.

The lease wasn't.

The Inventory Became Part of the Bankruptcy Estate

Kendall couldn't simply empty the warehouse.

Once Chapter 7 was filed, company assets became part of the bankruptcy estate and a court-appointed trustee had authority over what happened to the remaining inventory.

Kendall approached the trustee and offered to do the work necessary to organize and move it.

Then he started assembling help.

Former Employees Came Back to Help

Kendall says he personally paid former BlackOvis employees who were available and willing to help.

They organized inventory.

Built pallets.

Moved products.

Maintained the warehouse management system.

Tracked what remained.

As people found new jobs, the crew naturally became smaller.

Kendall describes periods of working roughly 12 to 18 hours a day, six days per week.

The company was gone.

The work wasn't.

Kendall Started Helping Vendors Recover Inventory

During the bankruptcy process, Kendall learned that certain vendors might have reclamation rights over qualifying merchandise delivered shortly before the filing.

He started contacting companies.

He helped identify potentially eligible inventory.

He helped generate reports.

He shared information about the process he'd learned.

According to Kendall, multiple vendors were able to recover merchandise through this process.

That included companies connected to public criticism of him.

He helped them too.

The Public Story Wasn't Always the Private Reality

When BlackOvis disappeared, hunters and businesses understandably wanted answers.

Forums filled with speculation.

Social media conversations started.

Some blamed private equity.

Some blamed Kendall.

Some blamed management.

People looked at bankruptcy documents and tried to reconstruct what had happened.

But ownership doesn't always equal control.

Being listed as a creditor doesn't necessarily mean someone extracted money from a company.

And being the founder doesn't necessarily mean the founder made the final decision.

That's one of the primary reasons Kendall wanted to tell his perspective publicly.

Was Kendall Card a Creditor of BlackOvis?

Yes.

Kendall appears in the bankruptcy story as both an owner and creditor.

According to Kendall, that's because he put additional personal money into BlackOvis during 2025 in an attempt to help keep the company alive.

He says the creditor position represented money he had put into the business rather than a large amount of money he'd taken out immediately before the bankruptcy.

Did Kendall Receive a Large Severance?

According to Kendall, no.

He says his severance was approximately $3,900 after he had voluntarily reduced his salary.

He says he gave that money away to help others.

At the same time, he was personally paying former employees to help clean out and organize the warehouse.

That doesn't erase losses suffered by creditors or other people affected by the bankruptcy.

It does illustrate why Kendall felt parts of the public narrative surrounding his role didn't match his personal experience.

The Warehouse Was Finally Cleared

Eventually, the remaining inventory was organized and moved to another warehouse where it could remain under the bankruptcy process.

A new tenant moved into the original BlackOvis building.

Kendall later returned with his brother-in-law.

They removed the BlackOvis signage from the windows.

After 17 years, that chapter was finally closing.

Could BlackOvis Come Back?

Chapter 7 ended the original operating businesses, but business assets can still have value.

The BlackOvis name.

The website.

Intellectual property.

Inventory.

Other assets.

Those can potentially be purchased through the bankruptcy process.

At the time of Kendall's interview, he didn't know what would ultimately happen to the BlackOvis brand.

A future owner could potentially acquire assets and attempt to relaunch the name.

That would be a different chapter from the BlackOvis and Camofire businesses Kendall and Mark originally built.

So What Really Happened to BlackOvis?

The easiest answer would be to blame one person or one event.

The story Kendall tells is considerably more complicated.

BlackOvis and Camofire were built by entrepreneurs who spent years growing the businesses through customer service, relationships, closeout opportunities and a strong position in western hunting ecommerce.

The companies became successful.

Success created complexity.

Outside investors entered.

Financial strategy changed.

The company took on more leverage.

The post-COVID market shifted.

Inventory became a problem.

Leadership changed.

Kendall became increasingly disconnected from the business.

BlackOvis attempted to restructure.

Tariffs created additional uncertainty.

The banking relationship deteriorated.

New financing fell through.

Additional equity couldn't arrive quickly enough.

A complicated creditor situation created urgency.

Ultimately, the board decided Chapter 7 bankruptcy was the appropriate path.

The Bigger Lessons From BlackOvis

Kendall walks away from the experience with lessons that extend far beyond the hunting industry.

• Know exactly who you're going into business with.
• Understand who controls what before accepting investment.
• Read and understand personal guarantees.
• Don't assume obligations were transferred.
• Define what success means before the company becomes successful.
• Have difficult conversations with business partners while relationships are still good.
• Understand what outside investment changes.
• Recognize that growth has a cost.
• Don't confuse revenue with success.
• Don't assume there will always be time later to make up the moments missed while building the company.

The BlackOvis Story Is Also About People

Revenue numbers make a business story easy to summarize.

$5,000.

$30 million.

$100 million ambitions.

Millions in inventory.

Lines of credit.

Debt.

Bankruptcy claims.

But those aren't the things Kendall talks about most emotionally.

He talks about people.

His wife.

His children.

Mark.

Employees.

Customers.

Brands.

Friends.

The relationships created over nearly two decades in the hunting industry.

After the bankruptcy, a stranger eventually walked past Kendall at Hunt Expo.

He recognized him.

He told Kendall he missed the company.

He said they had done a good thing.

Then he kept walking.

For Kendall, that interaction meant more than the stranger probably realized.

BlackOvis was gone.

But it had mattered to people.

 

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Stay Connected With First Generation Bowhunter

First Generation Bowhunter is built for hunters who didn't grow up knowing all the answers.

Hosted by Adam Buchanan, the show covers bowhunting, archery gear, hunting stories and conversations with hunters, founders and people throughout the outdoor industry. The goal is simple: share real experiences, learn from mistakes and help other hunters shorten the learning curve.

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FAQs

What happened to BlackOvis?

BlackOvis and Camofire filed Chapter 7 bankruptcy on October 20, 2025. According to co-founder Kendall Card, the bankruptcy followed a combination of excess inventory, debt, leadership changes, post-COVID retail conditions, banking problems, tariff uncertainty and difficulty securing enough additional capital to continue operating.

Why did BlackOvis go out of business?

There wasn't one single cause. Kendall describes changing ownership and financial strategy followed by excess inventory, reduced liquidity, leadership transitions, refinancing challenges, tariffs and difficulty raising additional capital. The board ultimately decided to pursue Chapter 7 liquidation.

When did BlackOvis file bankruptcy?

BlackOvis and Camofire filed Chapter 7 bankruptcy on October 20, 2025.

Did Camofire go out of business too?

Yes. Camofire and BlackOvis were part of the same broader business operation and both ceased operating as part of the bankruptcy.

Who founded BlackOvis and Camofire?

Kendall Card and Mark founded Camofire, which officially launched in 2008. They later created BlackOvis as a traditional western hunting retailer that complemented Camofire's closeout-focused business model.

How big was BlackOvis before bankruptcy?

According to Kendall, BlackOvis and Camofire grew to more than $30 million in annual revenue during their peak growth years and employed dozens of people.

Did private equity own BlackOvis?

Private equity investors gained control of the company after investing in BlackOvis and Camofire. Kendall says he remained a major shareholder, retaining roughly 40% ownership after the transaction, but outside investors received control of the business.

Did private equity cause the BlackOvis bankruptcy?

Kendall does not describe the bankruptcy as being caused solely by private equity. He discusses disagreements around debt, spending, growth and culture, but also accepts responsibility for excess inventory. Market conditions, leadership changes, tariffs, banking issues and financing challenges also contributed to the story he describes.

Did Kendall Card vote for the BlackOvis bankruptcy?

No. Kendall says he refused to vote in favor of bankrupting the company he'd helped found. According to his recollection, his vote wasn't required for the board to proceed.

What happened to BlackOvis customer orders?

According to Kendall, the websites were shut down to prevent additional orders. A small group then worked to fulfill existing orders. Kendall says all remaining Camofire orders and nearly all BlackOvis orders were shipped, while the small number remaining were canceled and refunded.

What happened to the remaining BlackOvis inventory?

The remaining inventory became part of the bankruptcy estate. Kendall says it was eventually organized and moved to another warehouse where it could be handled through the court process. Some qualifying vendors also pursued reclamation of recently delivered merchandise.

Can BlackOvis come back?

The original operating companies filed Chapter 7 bankruptcy. However, brand names, websites, intellectual property and other assets can potentially be purchased and relaunched by another owner.

Stay Connected With First Generation Bowhunter

First Generation Bowhunter is built for hunters who didn't grow up knowing all the answers.

Hosted by Adam Buchanan, the show covers bowhunting, archery gear, hunting stories and conversations with hunters, founders and people throughout the outdoor industry. The goal is simple: share real experiences, learn from mistakes and help other hunters shorten the learning curve.

Follow First Generation Bowhunter to catch new episodes, interviews and stories from the hunting industry.

Watch and Subscribe on YouTube →

Listen and Follow on Spotify →

Listen on Apple Podcasts →

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