National Sharps files for bankruptcy

[The Heretic]

Sharps Bankruptcy Glenrock Rifle Company files Chapter 11

It seems that the Sharps Rifle Company has filed for bankruptcy. According to documents filed with the Wyoming District U.S. Bankruptcy Court, Sharps filed for bankruptcy on December 31st of 2019. The Sharps Bankruptcy filings show that Sharps has been struggling for quite a while now.

www.thefirearmblog.com

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[Red98422]

I know what'll save this company!!!! A new cartridge for the AR!!!

 

[User 1234]

Fortunately it was not the C. Sharps company.

 

[Spitpatch]

Whew! Just goes to show ya, don't loose your cookies over a headline!

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shilohrifle.com

 

[Member 34319]

It's a hell of a market these days. I'm surprised more boutique AR manufacturers aren't hurting. Or, they are, and just not showing their true colors, yet.

The real shame, in my opinion, is how these companies couldn't figure out a way to lower prices to compete with the saturation in the AR15 market.

 

[arakboss]

I know what'll save this company!!!! A new cartridge for the AR!!!

Maybe a 5.56x39Sharps

 

[Spitpatch]

I know what'll save this company!!!! A new cartridge for the AR!!!

6.5 Needmore. (cash flow)

 

[scarlo]

Saw this on Sharps FB posted about 3 hours ago:

"To put a stop to all the rumors: Sharps Rifle Company has filed Chapter 11, NOT chapter 7 bankruptcy. With a lawsuit from a disgruntled former employee (that has been going on for several years) as well as a few other reasons, it was decided the best thing for the survival of Sharps was to file chapter 11 so we can restructure and move forward! For all you doubters, WE ARE STILL OPEN FOR BUSINESS AS USUAL! "

Sharps Rifle Company - SRC Arms

Sharps Rifle Company - SRC Arms. 9,531 likes. Sharps Rifle Company is the proud heir of the now legendary 19th-century rifles, embodying the spiri

www.facebook.com

This may be the lawsuit they are referring about:

Sharps Rifle Company Loses Lawsuit Against Founder -

Broadsword Group, LLC, the owners of Sharps Rifle Company (makers of the Relia-Bolt and .25-45 Sharps upper receivers for the AR-15), has been ordered to pay nearly three quarters of a million dollars to one of its founding members, Michael H. Blank, by the US District Court of Eastern Missouri...

www.thefirearmblog.com

https://www.govinfo.gov/content/pkg/USCOURTS-moed-4_14-cv-01550/pdf/USCOURTS-moed-4_14-cv-01550-1.pdf

 

[RVTECH]

Fortunately it was not the C. Sharps company.

Yea, I wonder how many people stumbled on their site thinking they were going to see SS falling block .45-70's and the like.

I know I did!

 

[v0lcom13sn0w]

25-45 sharps was kinda DOA.

 

[Spitpatch]

25-45 sharps was kinda DOA.

Shouldna been. I've toyed with the idea for a long time: enough so that it is on the top shelf of my loading bench as a "dream cartridge" I cobbled together years and years ago. Was gonna do it in an Interarms Mini-Mauser. Then I found out they made that action/bolt face in 7.62x39. Went with a conversion to .25 PPC (6PPC necked up). I call it the .25 Pronghorn Pursuit Cartridge. Matches .250 Savage ballistics in a tiny gun.

This was before I went and bought my Obama consolation prize (an AR).

Now, with perusing SRC's site, the fire is rekindled. A quarter-bore AR!