It may or may not be generally known but it has just cane to out attention that sadly A-SQUARE is officially bankrupt. So if you use any of their products that are difficult to find pick them up while you are able to locate them

Are you certain? A quick google didn't turn anything up. Can you give us any articles to support your statement?

Received a letter from the Bank in SD offering us to purchase items from the foreclosure sale.

Well, foreclosure doesn't necessarily mean bankrupt, but it doesn't sound good.
Thanks for the info.

bankruptcy is a great way to avoid paying any of your creditors...

The only concern would be if it were a chapter seven.

You sir are correct, all I can tell you is I received the letter this past Saturday from the Bank. A-Square is toast, no idea why or what chapter of broke they went. By virtue of the fact that the Bank is selling the assets of the Company I suspect it is not being re-organized.

The letter from the Bank proclaims "forclosure" I do not imagine that is anything good but whatever it is it is. I am certain that anyone who has a burning desire to know exactly what transpired may find out. Whatever it is is not peachy and it is a shame that it happened. A-Square and Art were always good to us and we wish them the best.

It doesn't sound like a bankruptcy. Sounds like the bank was a secured creditor and is selling the assets pledged as collateral for loans. Regardless , not good.

Sir, you absolutely correct, it is very sad to see any great firm have problems. I do understand that it did cost them a fortune to defend themselves agains charges by the ATF in which they did prevail as we understand. Never the less it is difficult to get back on track after a nightmare like that. Go Well

I have not heard of that. Do you know any of the details?

I can't find anything saying A-Square was involved, but some companies got into trouble for allegedly producing armor piercing handgun ammo. The problem was that they were producing rifle ammo in fmj or solids that had the same circumference as some pistol ammo.
I believe Barnes is going through something with atf now.

Again? What is it with AA and bede ?

A-Sqauare's problems started many years ago, when Art Alpin was in charge.

I think it had to do with breaking export laws or something like that.

IIRC a disgruntled employee went to the ATF and started a big bru-haha for Alphin. They raided the facility and for a short while I think he was locked up. Basically a paperwork failure but cost him his involvement in the company and as was said before, they never really regained the ground they lost.

I understand Art was one of those guys you love or hate with little in between. I never met him but if I did I'd sure thank him for the reloading book he wrote, regardless.

Sounds like a bunch of people doing GOSSIP over the backyard fence, without any clear cut evidence.

I would think a letter from the Bank offering the assets of the Company for sale is bloody clear cut evidence that there is definitely Trouble in River City. That may not be "clear cut" to you but to most people that is sufficient evidence things are "clear cut" and sadly for a great Company not good.

Even in BR, sometimes the court will order the liqudation of assets before considering the discharge/reorganization of remaining debt.

Tits up is tits up.
Does it really matter why ?

A-square was shut down awaiting the raise of $1.3M in new funding. Apparently that didn't happen ...

I talked with someone who attended the auction. They were selling everything....machines, brass, tools, etc

Art always operated on the low side of the law. It appears that he "misrepresented" some information to the state of Wyoming, comitting felonies in the act.

Oh what a tangled web we weave , when first we practice to deceive !

quote:

Originally posted by mmassey338:
I can't find anything saying A-Square was involved, but some companies got into trouble for allegedly producing armor piercing handgun ammo. The problem was that they were producing rifle ammo in fmj or solids that had the same circumference as some pistol ammo.
I believe Barnes is going through something with atf now.

Well thats BS
What do you do with all the AK and AR pistols??
FMJ does not make it armor piercing. The BATFE has a very specific law on this and the bullet has to be primarily composed of steel or other metal they list (Copper lead and brass are specifically excluded.) or the core.