Watchtower Firearms, LLC, a Frisco, TX-based firearms manufacturer, filed for Chapter 11 protection on Feb. 27 in the U.S. Bankruptcy Court for the Northern District of Texas.
The company reports $10 million to $50 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-40684.
I think they just opened in 2022. Wonder what happened?
WATCHTOWER FIREARMS, LLC indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors.
Watchtower Firearms on Feb. 27 filed for Chapter 11 bankruptcy, facing a multitude of financial problems. The Frisco, Texas, firearms maker faced operational challenges, tax obligations, and significant vendor and service provider debt that led to its financial distress.
https://www.thestreet.com/breaking-news/famous-gunmaker-files-chapter-11-bankruptcy