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Parker Goes Under

xbowguy

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Supporting Member
15,075
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139
Licking Co. Ohio
#1
Quick FYI for those that are interested Parker Crossbows just closed its doors.....:(
To the Dealers of Parker Compound Bows, Inc.

Re: Cessation of Business

Dear Sir or Madam:

Parker Compound Bows, Inc. (the “Company” or “Parker”) has made the difficult decision to cease operations. We appreciate your loyalty and support over the years. The Company has explored what it believes to be all possible options to continue operations in one form or another or engage an investor or sell the Company. Unfortunately, all of these efforts have been unproductive.

Our goal is to make the windup process smooth and equitable for everyone involved. To that end, I want to inform you of the following changes to the Company’s policies and procedures:


• All Minimum Advertised Price (MAP) Policy terms and conditions are immediately waived.

• Effective as of the date of this notification, all Parker and Red Hot Branded Products retailed will be without a warranty regardless of statements on packaging or in owner’s manuals. You should prominently post this notice to customers regarding termination of the lifetime warranty. Parker will make every effort to honor existing warranty claims for items received at the Staunton, Virginia headquarters on or before December 31, 2018. Items received after December 31, 2018 will be refused.

• All amounts owed to Parker will be collected upon and any personal guarantees are still in force.

• Over the next month, Parker will engage in a quick retail liquidation of its inventory using existing retail and dealer outlets. After the retail sale-out phase is deemed complete, remaining assets consisting chiefly of older models and parts will be liquidated as practicable along with merchandise that does not sell during the early stages of the liquidation process. Parker hopes to avoid a bankruptcy filing and has been advised by counsel that this may be possible with the cooperation of creditors and other parties in interest, such as the dealers. We believe that all parties will benefit if bankruptcy can be avoided.

• During this process, our goal is to provide transparency to all parties in interest. For many years the Company operated at the highest level of business standards and intends to adhere to those same standards during this final phase. Do not hesitate to contact me from time to time as the Company moves through this process.

Very truly yours,

PARKER COMPOUND BOWS, INC
 

bowhunter1023

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Appalachia
#5
Well then. Who now? I never did pull the trigger on a Challenger like Rick had advised. I should really order one ahead of K's birthday on the 31st, but I'd rather have something with a viable warranty.
 
#6
Well then. Who now? I never did pull the trigger on a Challenger like Rick had advised. I should really order one ahead of K's birthday on the 31st, but I'd rather have something with a viable warranty.

I would rather buy a bow with a warranty and service. Only thing is if you could buy a Challenger at a great price then maybe it would be worth taking a chance? There are some other bows out there that work well for kids. Mine all used Excalibur bows to start with. I was able to get the scope far enough back on them so it would fit.
 
#8
Well then. Who now? I never did pull the trigger on a Challenger like Rick had advised. I should really order one ahead of K's birthday on the 31st, but I'd rather have something with a viable warranty.
At this point I would wait until after the ATA show to see what the new crossbow offerings are. It will also be interesting to see possibly if another company picks up the Parker line and you could still get a Challenger with a warranty. It isn't like you are going to shoot much until Spring anyway.