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Saw a post on FB by someone that said they saw an article which stated, Taurus was looking at bankruptcy, and selling out to Winchester. Anyone hear of this?
Any truth to this?
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Olin, I think, still owns licensing of the Winchester name and does produce ammo. FN of Belgium bought out US Repeating Arms when they went into bankruptcy. Browning out of Utah might still have some licensing agreements, but I think FN does most of the production of any firearm that says Winchester on it. Olin has been talking about selling off the ammo business and concentrating on their core products of their chemical business. I do not see it unless it is FN that is interested.
EDIT: Just for clarity, the Herstal Group actually owns FN, U.S. Repeating Arms, and Browning, and has a corporate partnership with the Japanese company, Miroku Co, LTD. Miroku produces some of the firearms with the Browning and Winchester name.
EDIT: Just for clarity, the Herstal Group actually owns FN, U.S. Repeating Arms, and Browning, and has a corporate partnership with the Japanese company, Miroku Co, LTD. Miroku produces some of the firearms with the Browning and Winchester name.
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Nope. Haven't heard anything like that.
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Well..........if it's on Facebook they might as well close the doors and turn off the lights.
They're toast...........
They're toast...........
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I googled Taurus bankruptcy and didn't find any announcements. There was some meaningless article that computed a probability of bankruptcy for Taurus, but that isn't an announcement. Wonder what my probability of bankruptcy is.
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Sounds like a bunch of nonsense, especially considering that Winchester is no longer an independent company but rather a brand name.
The closest thing I heard was that Taurus was being bought out by Freedom Group and that their firearms would be rebranded as Remington firearms, (i.e. the Taurus PT92 would be rebranded as the Remington R92 and so on) but that just ended up to be a rumor, albeit one which may have been based on Anthony Acitelli stepping down as Taurus CEO to become the new CEO of Remington.
The closest thing I heard was that Taurus was being bought out by Freedom Group and that their firearms would be rebranded as Remington firearms, (i.e. the Taurus PT92 would be rebranded as the Remington R92 and so on) but that just ended up to be a rumor, albeit one which may have been based on Anthony Acitelli stepping down as Taurus CEO to become the new CEO of Remington.
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Most likely correct. However, if both parties agree then Taurus could be bought. But I would find it unlikely that a suitor would want to purchase a company prior to a pending bankruptcy ruling. I went through a bankruptcy with a previous employer just after I accepted a fairly lucrative buyout package. The bankruptcy held up the payout for about 5 years. Even though other parts of the company were sold off piecemeal, in the division I worked certain provisions were contested in the Canadian courts. It was a mess and I eventually only got about 85 cents on the dollar from the payout. Bankruptcy declarations are a real PITA for employees and I feel for Taurus US employees if this is the case.
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The post was in the Taurus PT111/PT140 millennium shooters group, only reason I gave it any credence.
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According to this single source the probability of bankruptcy is 52%.
https://www.macroaxis.com/invest/ratio/FJTA4.SA--Probability-Of-Bankruptcy
https://www.macroaxis.com/invest/ratio/FJTA4.SA--Probability-Of-Bankruptcy
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