Post by Kt29 on Jun 2, 2009 16:27:09 GMT -5
6/2 Outdoor Wire
Later this morning, Knight Rifle will officially release the news of their decision to cease manufacturing. The official announcement to Knight employees was made last Friday, but officials have avoided speaking with the media in an attempt to keep the lid on the story until June 1.
In the firearms industry, however, it's hard to keep secrets. Shortly after General Manager Tom Rainey made the announcement to employees on Friday morning, news of the impending announcement began to spread throughout the industry.
The company began in 1985 when founder Tony Knight created his first inline muzzleloading rifle, the MK-85. Since then, more than one million Knight Rifles have been purchased by hunters and blackpowder enthusiasts. Throughout the company's existence, Knight Rifles have been known for their accuracy and shootability. Rifles have always featured high quality components from Green Mountain barrels to Timney triggers.
But high quality components aren't enough to save a company in a business climate where all hunting rifle sales are lagging. The challenges for all companies whose primary firearms are designed for hunting are no secret; for a company whose niche is an even smaller portion of that lagging marketplace, it's apparently more than their owners can - or are willing - to bear. Knight Rifle owner Ebsco Industries has seen other segments of their outdoor holdings lagging, and has shuttered several outdoor-related magazines. The closure of Knight, however, may be Ebsco's most surprising move to date.
While the firearms industry seems to be bucking the economic trends with runaway sales in handguns and rifles, the Knight decision is stark reminder that not everyone in the firearms industry is flourishing. There are several companies struggling today, and the Knight closure will more than likely not be the last one reported in the near future.
Later this morning, Knight Rifle will officially release the news of their decision to cease manufacturing. The official announcement to Knight employees was made last Friday, but officials have avoided speaking with the media in an attempt to keep the lid on the story until June 1.
In the firearms industry, however, it's hard to keep secrets. Shortly after General Manager Tom Rainey made the announcement to employees on Friday morning, news of the impending announcement began to spread throughout the industry.
The company began in 1985 when founder Tony Knight created his first inline muzzleloading rifle, the MK-85. Since then, more than one million Knight Rifles have been purchased by hunters and blackpowder enthusiasts. Throughout the company's existence, Knight Rifles have been known for their accuracy and shootability. Rifles have always featured high quality components from Green Mountain barrels to Timney triggers.
But high quality components aren't enough to save a company in a business climate where all hunting rifle sales are lagging. The challenges for all companies whose primary firearms are designed for hunting are no secret; for a company whose niche is an even smaller portion of that lagging marketplace, it's apparently more than their owners can - or are willing - to bear. Knight Rifle owner Ebsco Industries has seen other segments of their outdoor holdings lagging, and has shuttered several outdoor-related magazines. The closure of Knight, however, may be Ebsco's most surprising move to date.
While the firearms industry seems to be bucking the economic trends with runaway sales in handguns and rifles, the Knight decision is stark reminder that not everyone in the firearms industry is flourishing. There are several companies struggling today, and the Knight closure will more than likely not be the last one reported in the near future.
