PTR In Financial Trouble?
PTR Industries, the gunmaker that made national headlines by moving from Connecticut to Aynor in 2013, risks losing its local headquarters because the company owes Horry County more than $73,000 in overdue rent, according to public records.
However, some Horry County Councilmen are simply pleased to have the once-vacant building occupied with jobs for area residents, and are willing to work with the gun manufacturer.
County officials sent a default notice to PTR on June 10 stating that the company had 30 days to pay its rent or the county would retake the building the company leases in the Cool Springs Business Park.
“We’ve come to a point in time where we’ve actually put them on notice that we’re looking at exercising our rights under the lease agreement to recover those arrearages,” said Arrigo Carotti, county attorney.
A sharp decline in orders for PTR rifles forced the company to trim its workforce last summer.
This is the second time the county was prompted to reach out to PTR for late rent. County officials sent PTR a notice Jan. 30 informing the company that it was four months behind on rent. Including late charges, the bill totaled nearly $52,000.
When PTR moved to Horry County, the company promised to create 145 jobs over three years. But as the industry evolved, gun distributors were left with warehouses full of guns they needed to move. That meant fewer orders from manufacturers like PTR.
The company’s struggles worsened in April 2014, which saw the lowest revenues since Fiorini’s family acquired the business in 2009.
Continued: PTR Industries put ?on notice? by Horry County for $73K in late rent | The State The State
Black Blade: I wonder if someone will buy them if they go tits up. They do make a very good HK91 clone. I have couple myself.