Just shy of a year after being raided by the ATF, Sabre Defence Industries is being offered for sale by creditors. The ATF raid was connected to allegations against individual employees rather than the firm itself, but it wasn’t the first or last time the company had been in controversy. In late 2009 they were sued by a sub-contractor for non-payment for M2 machine gun bolts. Then, late last year, they lost the license to produce the AUGA3 from Steyr.
We don’t know which if any of these unfortunate events are to blame for the demise of Sabre Defence but it is currently being offered for sale under an Article 9 Foreclosure which is generally considered a friendly foreclosure. Interested parties have until 14 February to bid but you have to be serious as the creditor is asking for a $100k deposit in order to bid.
Full details of the sale are available at sabresale.com.
Interestingly, the Sabre Defence website is still working. www.sabredefence.com
Tags: Sabre Defence