Freedom Arms for sale?

[valley28]

I read on one of the other forums that Freedom Arms might be for sale. Is there any truth to this?

[benny123]

Pretty sure Freedom is not a publically traded company. Meaning, there is no obligation for this to be even announced. And it would be odd for anyone to know other than the company itself.

If you're asking because you are concerned with the quality of their work, then that's a bit more constructive. I bought a new FA about 6 months ago, that had some customization, and I was left impressed--as I had been with other purchases.

I think just a simple search through this forum would show that the idea that FA has lost their edge would be meritless

[cadillo]

Pretty sure Freedom is not a publically traded company. Meaning, there is no obligation for this to be even announced. And it would be odd for anyone to know other than the company itself.

If you're asking because you are concerned with the quality of their work, then that's a bit more constructive. I bought a new FA about 6 months ago, that had some customization, and I was left impressed--as I had been with other purchases.

I think just a simple search through this forum would show that the idea that FA has lost their edge would be meritless

No need to jump on the OP.  If you don't know the answer to his question, well, you know the rest. 

I for one am a bit concerned as I have been thinking about ordering an FA Model 97, but will now sit back and wait a bit before sending any down payment.  It has also been stated on one of the other forums that FA filed for bankruptcy in November of last year, which may or may not be true, but should give pause to any prudent individual regarding the future prospects for parts availability and customer service for such a pricy product.

Sometimes companies simply fail and lock their doors.  Sometimes the are sold and the new owner(s) make changes that affect overall product quality, customer service etc.

Maybe the whole thing is just a nasty rumor, but should it be true, maybe we'll get lucky and you'll buy them out and maintain their current reputation for quality etc. 

Keep us posted.

[wdelack]

Google: Wyoming Bankruptcy Petition 10-21370.

3 or 4 his down there will be a link to a PDF file that has all the bankruptcy information.

[picturerock]

Assuming that the information found by googling that info is true, it is a chapter 11 bankruptcy, which means a reorganization, not liquidation.   In other words, if you are a creditor of FA, you just got stiffed, but the business may well go forward just the same as always.  I wonder if they took out too many loans to set up manufacturing that single shot, or whether the bad economy just caught up with them?

[pmurphy]

Assuming that the information found by googling that info is true, it is a chapter 11 bankruptcy, which means a reorganization, not liquidation.   In other words, if you are a creditor of FA, you just got stiffed, but the business may well go forward just the same as always.  I wonder if they took out too many loans to set up manufacturing that single shot, or whether the bad economy just caught up with them?

This a reorganization due to the a product liability decision that was not in favor of FA.  They are up to date with their creditors, not including the plantiff and attorneys.  I hope that the judge allows them to sell the assets to FA v2.0, inc, and leave the obligations with th old FA v1.0.  I suspect that the key  negotiation is with the bank that hold their mortgage.

Phil

[picturerock]

Product liability?  That is really too bad as this company makes the best product of any gunmaker, as is well known to those in the firearms community.  I personally have three examples of their revolvers, and will definitely buy more as long as they are in business.

[pmurphy]

Product liability?  That is really too bad as this company makes the best product of any gunmaker, as is well known to those in the firearms community.  I personally have three examples of their revolvers, and will definitely buy more as long as they are in business.

Some ass, shot himself in the leg, while removing his long coat.  Apparently, he was not aware that a lowered hammer should always be over an empty chamber.  He and his shyster sued and won.  Here's the link

http://trib.com/news/state-and-regional/article_83806c45-56a9-5d4c-919a-2b2e4397f72b.html

[picturerock]

That is in fact an outrageous verdict.  It is unfortunate that most or all of the jury did not understand single actions, and the traditional way they are properly handled.  Following a few well known safety procedures renders them perfectly safe, but of course, what was well known for literally decades if not a hundred years isn't enough anymore in today's day and age. At least the verdict was only in the hundreds of thousands, and not millions of dollars.

This irritates me.  I am going to have to find a way to spend some money at FA now just to spite this whole situation.

[mk454]

yup, that guy needs to get shot in the other leg.

[odoh]

IIRC judgement assigned/placed it as 50/50 shared responsibility.

[Ken ONeill]

That's correct

[hodgdon]

 I have a 83 going for cly and more,and a few weeks after a new 83.  not to worry.