[HankB]

Just read that Dakota Arms filed for Chapter 11 bankruptcy protection a couple of weeks ago.

Guess not enough people were willing to shell out ~$5k and up for what amounts to a prettied-up Model 70, but without the cone breech.

[esheato]

It's unfortunate...a Model 10 has always been on my wish list.

Ed

[Outlaws]

Oh well.

[BsChoy]

I know what you guys mean, i always wanted one of there bolt guns in 280...I don't think it would have ever left the safe.

[BrainOnSigs]

They are re-organizing and still doing business. It has changed since the orginal owner passed on.

[Bobhwry]

Too bad, they made some beautiful rifles but guess the business plan was not as good!!

[Jim Watson]

Chapter 11 doesn't mean they are out of business.
As Frederick Pohl wrote: Bankruptcy - The state of having one's business managed by disinterested professionals so as to restore profitability, therefore the most desirable state of affairs.

[SRMohawk]

:what: You guys have to be $hittin' me!!! I mean, screw Dakota Arms and their overrated T-76 bolt rifles with wooden stocks. But Dakota Arms owns Nesika Bay Precision now and Nesikas are my all-time favorite bolt rifle receivers! I even sold all my other rifles when I discovered them!

Guess I better appeal to the wife for a couple more before something really serious happens!

[SRMohawk]

Fellas,
I just logged off to go and read some of the press regarding this scandalous little affair and then to e-mail Richard Spruill (the guy who manages the Nesika accounts for Dakota Arms). Something occurred to me while I was doing this, too, that enrages me.

Because I've been a customer of both Dakota Arms (once purchased 2 of their "all-fluff-and-no-performance" rifles) and Nesika Bay Precision (going back to way before this dickhead from New Mexico bought both companies and merged them), I receive their quarterly publication. Been getting it for years now and one thing about the whole operation has become overwhelmingly clear: The prima donna executives responsible for that outfit are running it into the ground by spending all the goddamn profits on ultra-expensive hunting excursions for themselves. I mean, the bulk of every bloody issue of the quarterly publication is devoted to articles about Charlie Kokesh's (CEO) hunting exploits! What a dumbass! His employees need to lynch him if he doesn't save their company!!! :cuss:

[Outlaws]

Because I've been a customer of both Dakota Arms (once purchased 2 of their "all-fluff-and-no-performance" rifles)

So forgive me, but is that sarcastic? Or do you think that?

My only gripe with them isn't about performance, so much as people on the net that claim to own Dakota and a few other makers, sold me on another company (Cooper for my example) because you get all the performance, but have the option to skip all the expensive "fluff".

[HankB]

Because I've been a customer of both Dakota Arms (once purchased 2 of their "all-fluff-and-no-performance" rifles) and Nesika Bay Precision (going back to way before this dickhead from New Mexico bought both companies and merged them), I receive their quarterly publication.I don't own one of their rifles, but I'm on their mailing list, too.

Probably because they think all SCI members are part of the gold Rolex crowd . . . :rolleyes:

They're nice guns, but IMHO the main reason to buy a Dakota rifle is so other people know you have the money to buy a Dakota rifle.

[SRMohawk]

Outlaws,
In 1995 I attended my first ever Shot Show, whereupon I quite literally stumbled onto the then little-known custom rifle firm that is Dakota Arms. Man, you should have seen me. I thought I had found Shangri la when I walked up to their booth and saw their rifles. But in those days I didn't know a thing about what really makes a rifle great. I only saw how beautiful they were. Consequently, I instantly became obsessed with the idea of owning one. So I actually took an extra job waiting tables so that I could make the $6000 that mine ended up costing. It was chambered for the 7mm Remington Magnum. And man, was it a thing of beauty. But like a trophy bride that doesn't want to bear you and any children, cook an even half-ass meal for you once in a while, or even hold an interesting conversation with you, that rifle didn't want to feed reliably or group under 2 MOA! But as dumb as human beings can be sometimes, so was I, and I ended up buying another Dakota Arms rifle in 1998. It was one of their now-defunct .338 Lapua Magnum Longbows. That rifle was more accurate, but didn't realize the potential of the cartridge for which it was chambered until Pete Peiper of Precision Barrel Works rebuilt it. And after Pete was finished with it, it shot unbelievably well! It was subsequently stolen by a U.S. Army soldier whose whereabouts are unknown to me. That, incidentally, was the first job for which I ever hired Pete. The second was the re-building of my 7mm Remington Magnum. That one became a consistent sub-0.5 MOA performer, too, after Pete was through with it.

The moral of this story: Hank is right! Dakota Rifles are status symbols and nothing more. I mean sure, you can hunt with them. But c'mon, those people aren't selling accuracy! They're selling 'trophy brides'. Just consider their absolutely sickening motto: "Life is too short to hunt with an ugly gun!"

Yeah, right! And if SHTF, it's gonna be alot shorter if a Dakota Arms rifle is all you have to survive with :barf: !!!

[GreyMauser]

Interesting. Dakota Arms is far from the first small manufacturer in the firearms industry to have insolvency problems. Best case, they'll be acquired by someone that will cut out the fat and get them to produce their high grade actions, etc, at realistic prices. Otherwise, with the bankruptcy stigma, and with the word out that Dakota rifles aren't worth (insert your favorite measure of low value), it's possible the Chapter 11 reorganization will convert to a Chapter 7 liquidation and it'll be all over.

[SRMohawk]

GM,
If your words turn out to be prophetic in this case, then sporting arms Shangri la may reside within that firm after all. I hope like hell it comes to pass!

[HankB]

Best case, they'll be acquired by someone that will cut out the fat and get them to produce their high grade actions, etc, at realistic prices. This may be a bad example, considering Winchester's recent demise, but I've had a chance to examine some Winchester Custom Shop Model 70s which appeared to be every bit as nice as the stuff Dakota was putting out - for about half the price. (And the Winchesters HAD the cone breech which Dakota omitted!)

And there are any number of smaller operations making equally nice rifles for considerably less money than Dakota.

[SRMohawk]

Hank, et.al.,
Two words: SURGEON RIFLES! The subject of this one-man operation came up under the Handloading Forum, but little attention was paid it. This indicates that it is still largely unknown to even those of us who are mega-serious about our sporting and 'survival' arms. Mind you, the actions by themselves aren't nearly as affordable as factory Remington M700 or Winchester Model 70s, but they are indeed far less costly than Dakota Arms' T-76 actions. The thing that enunciates the difference, however, is that Surgeon Rifles' actions may very well be 'THE END' in the way of serious, all-around, high-performance repeating bolt actions! I urge you all to pull up the website for an introduction to these remarkable Remington M700 clones. A police officer friend of mine up in North Texas whose a former USMC Scout/Sniper said of Surgeon Rifles: "If Preston could crank out the required volume withstanding no decrease in the quality thereof, he'd have a contract to produce these actions for the USMC Scout-Sniper M40A-3 rifles in a minute!"

And if any of you end up calling Preston (the designer, engineer/machinist, and proprietor of Surgeon Rifles), tell him Dave Herne in Houston, Texas referred you, as I am desperately trying to convince him that he needs to tool up to make left-bolt, left-port actions ;) !

[Gewehr98]

As of February, the sale (liquidation?) of Dakota Arms was planned. Dunno about Nesika Bay, so I'll have to dig around some more in the BR community to find out.


Here is the Asset Purchase Agreement (“APA”) for Dakota Arms as well as the revised Sale Process from the Offering Memorandum. All review of onsite due diligence material must be completed by 3:00 p.m. CST on Wednesday, February 21, 2007. Dakota Arms may be sold as a going concern, and the Company has not set a predetermined valuation for the assets. The revised Sale Process is outlined below.

1. All interested buyers that want to be a Qualified Bidder at the Auction should provide a marked-up copy of the APA and the greater of $200,000 or 10% of the proposed purchase price prior to 3:00 p.m. CST on Wednesday, February 21, 2007.

2. The funds must be provided in the form of a cashiers’ check or wire transfer to the trust account at the law firm of Fredrikson & Byron.

3. All interested buyers are required to provide evidence of financial wherewithal from a U.S. financial institution regarding the ability to consummate a transaction. Notification to Qualified Bidders will be Friday, February 23, 2007.

4. The Auction will take place at 10:00 a.m. CST on Monday, February 26, 2007, at the law firm of Fredrikson & Byron.

5. Interested parties must use attached APA. The marked-up APA should include the following information:

The proposed valuation of all the assets;
Redline of the proposed changes to the form of APA; and Confirmation that all due diligence has been completed and that there are no contingencies.

6. Any party willing to bid on individual assets should submit a marked-up APA.

7. All marked-up copies of the written proposals should be submitted by 3:00 p.m. CST on Wednesday, February 21, 2007

[glockman19]

It's unfortunate...a Model 10 has always been on my wish list.
If they go out of business you might be able to pick up one in a Going out of business sale?

[quicktime]

They actually filed chapter eleven a couple of months ago not weeks but thanks to their dedicated employees they are plugging away. As long as they can keep upper management out of the way they should be able to keep their heads above water. As for a sale it is just what Mr. Kokesh is wanting he is a huge venture capitalist and has used Dakota/Nesika for everything he needed and now it is time to get out of dodge with the tax break and a smile as he heads on to his next tax shelter. As for Dakota's being trophy queens it is all in what you order. The high end rifles are more works of art than functional hunting rifles. I know a former employee very well and have been in the factory many times. It is trully amazing the artistry that goes in to the checkering as well as the engraving and I beleive they have some of the finest blueing of any manufacturer. As for shooting they are now guaranteed minute of angle accuracy from the factory. You have to realize these rifles are not for your average blue collar guy making 20 bucks an hour. They have always been marketed toward the older distinguished gentleman that has accomplished financially what most of us are trying to achieve and has the expendable income for fancy toys. I beleive Dakota tried to get to big to fast and it has come back to haunt them. A lot of their core values went with the former owners when the husband died and the wife realized that the new bank roll did not share his commitment or values and left as well. Much of the same happened on the Nesika side. Mr Kokesh came in and promised the stars and the moon and the bankroll behind it and by the time it was discovered what his intentions really were it was too late to turn back the clock.

[MarshallDodge]

That's too bad. I always liked the workmanship that goes into their rifles and have never heard a complaint about their product. Hopefully part of the reorganization is to get some good management in the company.