Shooting Sports Retailer has learned that TrackingPoint, makers of a high-tech rifle that is billed as being able to shoot a moving target at almost 1,000 yards, has suspended all orders for its so-called precision guided firearm “due to financial difficulty.”
A source alerted SSR May 18 that TrackingPoint is “officially out of business” but a statement on the company’s website simply says TrackingPoint “is no longer accepting orders” and that it thanks its “loyal customers and followers for sharing our vision.”
In February we reported that TrackingPoint had fired nearly 50 percent of its workforce and appointed a new CEO, Frank Bruno. At the time Bruno said his company was poised for success and had grown its orders more than 200 percent.
“The history of the company is probably similar to a lot of young companies,” Bruno said during an interview in February. “The future is bright for TrackingPoint. The growth is there.”
But inside sources were telling SSR the company would go bankrupt by year’s end. Now it looks like that prediction has come to pass.
We will continue to report on this story as details emerge.