BREAKING: Salient Arms Files for Chapter 7 Bankruptcy

BREAKING: Salient Arms Files for Chapter 7 Bankruptcy

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BREAKING: Salient Arms Files for Chapter 7 Bankruptcy

Salient Arms International, commonly known as “SAI” and known for their high-end firearms has filed for bankruptcy in the Central District of California. For those looking at just the prices, the filing likely will come as a surprise, but on the flip side, it may not. Salient sells various polymer striker fired handguns for north of $3,000

The filing itself is scant on details with InforRuptcy showing that the company has less than $50,000 of assets and between $1000,000 and $500,000 in liabilities. The bankruptcy will be in accordance with Chapter 7 – i.e. liquidation. This means that the company and its assets will be sold to the highest bidder to pay current creditors.

Typically, a trustee is appointed by the court to oversee the sale of remaining assets which can include physical parts, brands, intellectual property, etc. Its interesting to note that Salient shows so little in terms of assets, but this can line up with recent reports across social media and forums of Salient not delivering on the product.

While a few out there will wish the company good riddance for their “overpriced” handguns I, for one, hate to see any company go under which usually means good people are losing their livelihoods and the industry as a whole loses a little bit of innovation.

Hunting

via The Firearm Blog http://ift.tt/ywCWoj

September 12, 2017 at 10:03PM

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