A bank has announced their intention to liquidate Sabre Defence …
Sale by Secured Creditor , Cadence Bank, N.A., as Secured Party under Article 9 Uniform Commercial Code including: all accounts; inventory; general intangibles, equipment; documents; all Government Contracts (subject to approval and novation process).
Sabre is a licensed manufacturer of ordnance including automatic weapons. It is a contractor for the United States government, Department of Defense and also engages in the manufacture and sale of semi- automatic weapons.
Sealed Bids: No later than 12:00 p.m., February 14, 2011
Sabre Defence Industries are best known for manufacturing AR-15 rifles but they also manufactured the civilian semi-auto AUG SA rifle for Steyr. I wonder what this news means for Steyr.
This time last year Sabre made the news when they were raided by the BATFE. It has not been a good year for the company.
[ Many thanks to jdun1911 for emailing me the link. ]