To get TFB readers and gun consumers up to speed, Acusport Corporation is a distributor of firearms and related accessories within the US. They are one of a handful of distributors who assist manufacturers in getting their products to retailers and eventually to you, the consumer.
Acusport, like all of us, had rode the tumultuous roller coaster that has been the gun industry the last 10 years. It has now come to a tipping point where a culmination of factors has forced them to voluntarily file for Chapter 11 Bankruptcy.
Over the last year we have seen many manufacturers down-grade their workforce, trade hands and even go under completely. Sadly, Acusport has followed suit, but they are receiving a potential lifeline from Ellett Brothers, LLC.
The following statement was given to Acusport employees and retailers who had accounts. Excerpts have been removed from the original statement out of respect for Acusport and their privacy throughout this current transition:
As a valued customer, I’m reaching out to inform you that AcuSport Corporation has signed an asset purchase agreement with Ellett Brothers, LLC, a wholly-owned subsidiary of United Sporting Companies, Inc., a leading nationwide distributor of hunting, outdoor, and marine products. We have also commenced a voluntary Chapter 11 bankruptcy case in the Southern District of Ohio. The Chapter 11 process will enable us to continue to operate our business while we undergo the sale process.
We value our relationship with you and remain committed to preserving the high level of service and quality that you have come to expect from us. Our Chapter 11 filing does not change this is any way.
Over the course of the case, we will keep you informed, and if you have any questions, please feel free to reach out to us at any time. You may also access information about AcuSport’s restructuring proceedings by visiting [website removed for privacy], by calling the special restructuring information line at [phone number removed for privacy], or by sending an email to the following address: [e-mail address removed for privacy].
In a separate matter, Gearfire has agreed to acquire and support AcuSport’s POS systems for independent firearms retailers and ranges.
We appreciate your understanding in this important time of transition for our business.
Acusport voluntarily filing for Chapter 11 Bankruptcy has many implications for the gun industry. For one, it directly affects the retailers they service. Not all gun stores use multiple channels to obtain their product (although good business practices dictate you should). So potentially smaller gun shops could see sparse inventory for some time or need to source future inventory elsewhere.
Second, by Gearfire acquiring Acusport’s POS system, which is very high quality, the accounts that Gearfire services could see a significant improvement. Gearfire, formerly the National Firearms Dealer Network, assists gun stores in creating an online website and retail presence.
Finally, Acusport filing for bankruptcy is very telling of the health of the firearms industry. While many people would tend to believe a corner has been turned and the industry can breath again with some normalcy, Acusport’s bankruptcy is a reminder that many companies are still hurting.