Ithaca Gun Co. Closes
Ithaca Gun Company has been struggling for years and apparently they are throwing in the towel. From the Ithaca Journal:

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AUBURN -- Mired in debt and struggling to compete, the Ithaca Gun Co. has ended production after more than a century in business.

"We're just tapped out, we can't do it any longer," Andrew Sciarabba, one of seven investors who own Ithaca Gun Co., told The Post-Standard of Syracuse.
Closure of the company, which had 26 employees, comes less than a year after it received $150,000 from Cayuga County for operating expenses. Ithaca Gun had missed its May and June payments on the loan, for which it had put up its equipment as collateral.
The company reportedly had recently completed a move from King Ferry to Auburn.
Sciarabba, whose group acquired the company out of bankruptcy in the mid-1990s, said Ithaca Gun was several hundred thousand dollars in debt.
Sciarabba said the company also owed several years worth of back excise taxes to the federal Bureau of Alcohol, Tobacco and Firearms.
The gun company, which had operated on a 2-acre site on Ithaca's Lake Street continuously since 1880 manufacturing shotguns, went bankrupt in the 1980s and was bought by new owners in 1989 and relocated to King Ferry.
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