Samco

Post by **Darryl** » Wed Dec 23, 2015 8:04 am

http://www.bizjournals.com/southflorida ... ation.html

Post by **Junk Yard Dog** » Wed Dec 23, 2015 11:38 am

That will leave Century as the largest importer of surplus firearms now.

SA1911a1 · Post by **SA1911a1** » Wed Dec 23, 2015 1:40 pm

What an odd story. I bet C.A.I. is licking their lips to buy out the business at pennies on the dollar.

I am glad they listed the address if the warehouse. I am loading up my torch and bolt cutters. Next week I will have a special offer on Spanish and Yougoslavian Mausers. $100.00 each, first come first serve, no paperwork and you can't tell anyone where you got 'em. That address is right off of Doral drive, near the Palmetto Expressway, maybe I will play a round of golf before the heist.

Why in the world would the reporter post the address of the warehouse?

ffuries · Post by **ffuries** » Wed Dec 23, 2015 1:54 pm

SA1911a1 wrote:What an odd story. I bet C.A.I. is licking their lips to buy out the business at pennies on the dollar.

I am glad they listed the address if the warehouse. I am loading up my torch and bolt cutters. Next week I will have a special offer on Spanish and Yougoslavian Mausers. $100.00 each, first come first serve, no paperwork and you can't tell anyone where you got 'em. That address is right off of Doral drive, near the Palmetto Expressway, maybe I will play a round of golf before the heist.

Why in the world would the reporter post the address of the warehouse?

Hey I'll ride along as a second set of eyes, cheap labor, and extra driver, oh and since I don't golf I'll be your caddy....If I can have a few of the rifles for my collection!

Fledge · Post by **Fledge** » Wed Dec 23, 2015 2:08 pm

SA1911a1 wrote:What an odd story. I bet C.A.I. is licking their lips to buy out the business at pennies on the dollar.

I am glad they listed the address if the warehouse. I am loading up my torch and bolt cutters. Next week I will have a special offer on Spanish and Yougoslavian Mausers. $100.00 each, first come first serve, no paperwork and you can't tell anyone where you got 'em. That address is right off of Doral drive, near the Palmetto Expressway, maybe I will play a round of golf before the heist.

Why in the world would the reporter post the address of the warehouse?

Count me in

WWW · Post by **WWW** » Wed Dec 23, 2015 2:16 pm

Nuts. And I'm only a few years away from moving to Florida.

Post by **Junk Yard Dog** » Wed Dec 23, 2015 2:53 pm

Dogs, better bring something to make them go sleepytime. Guns, better bring some because when you get there you will probably find the Miami mob loading trucks.

SA1911a1 · Post by **SA1911a1** » Wed Dec 23, 2015 3:10 pm

Dang it, now I am feeling like a Clanton. Make it whiskey for the men and beer for the horses, for tonight we ride.

ffuries · Post by **ffuries** » Wed Dec 23, 2015 4:37 pm

Junk Yard Dog wrote:Dogs, better bring something to make them go sleepytime. Guns, better bring some because when you get there you will probably find the Miami mob loading trucks.

I'll be more than happy to share some of my meds with the doggies to make them go nite-nite

. I'm sure we can find a few guns amongst us to deal with the Miami boys!

dou44 · Post by **dou44** » Wed Dec 23, 2015 5:17 pm

it was only a few years ago I saw where IMA was broke into and a lot of guns were stold

Post by **Longcolt44** » Wed Dec 23, 2015 8:33 pm

Actually it also leaves PW ARMS along with Century to fight it out in the import war.

Post by **Rongo** » Wed Dec 23, 2015 9:22 pm

Curious to see what happens to their inventory.

Post by **Darryl** » Wed Dec 23, 2015 11:54 pm

I'm not sure this is really a bankruptcy. It looks more like two part owners fighting over control of the company (if you read the entire story). Notice, one owner signed the papers for bankruptcy, and the other refused.

I'd be cautious about buying from them until it is "worked out".

djbuck1 · Post by **djbuck1** » Thu Dec 24, 2015 4:36 am

dolk wrote:I'm not sure this is really a bankruptcy. It looks more like two part owners fighting over control of the company (if you read the entire story). Notice, one owner signed the papers for bankruptcy, and the other refused.

I'd be cautious about buying from them until it is "worked out".

I would say do NOT buy from them.

SAMCO has indeed filed for Chapter 7 bankruptcy protection at Case No. 15-31296 in the Southern District of Florida. They filed December 7. The first creditors meeting is January 6, 2016, and the deadline for claims is April 25, 2016. The actual petition in bankruptcy is not viewable unless one is subscribed to the federal court PACER system (which I am not), or someone knows another way to access it.

The warehouse has been reported as "shuttered," and they are not supposed to be selling anything, anyway.

SAMCO is a corporation, so if the party claiming ownership is not, in fact, the owner or a majority shareholder, he may gum this up, but it will likely go forward. But it could make a real mess of an otherwise orderly process.

If the reported financials are true, then SAMCO is essentially insolvent, and all assets will be liquidated by the Trustee appointed by the court so as to pay all legitimate claimants (and the fellow claiming ownership may just be posturing thinking that will gain him leverage- haha).

Liquidation can occur only after all claims are filed. The Trustee will look for the most expeditious way to liquidate, which means the arms will be sold to a dealer who can pay for the lot. They won't show up one at a time on Gunbroker.

shoto2758 · Post by **shoto2758** » Sun Dec 27, 2015 5:05 pm

No indication on their web site that anything is amiss.

willyj73 · Post by **willyj73** » Wed Jan 13, 2016 8:44 pm

Samco's site is down. Not sure if it's due to the bankruptcy.

racerguy00 · Post by **racerguy00** » Wed Jan 13, 2016 11:01 pm

http://www.stamplerauctions.com/auction ... -firearms/

WeldonHunter · Post by **WeldonHunter** » Thu Jan 14, 2016 12:17 am

racerguy00 wrote:http://www.stamplerauctions.com/auction ... -firearms/

Wow! when I first heard about this I looked at the site and they had disabled the cart. That was back in Dec. Did you look at the "photos" tab. There's 68 pictures of the warehouse. Lots of rifles in all different states of assembly. Bin full of Mauser Bolts. Damn shame.

willyj73 · Post by **willyj73** » Thu Jan 14, 2016 12:40 am

They had some good deals. Got a 24/47 with accessories for around $225 shipped and 400 rounds of 7mm for $130 shipped last year. Widener's isn't selling firearms either.

Sent from my SM-G920V using Tapatalk

redhat10 · Post by **redhat10** » Thu Jan 14, 2016 8:10 am

Huuumm, some carbines and a few Sks rifles ..Lotta cleaning up and reassembly work to get much money out of this Cashcow?? Saw tons of old stocks where are the actions??

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