BANKRUPTCY COURT APPROVES PRAIRIEFIRE'S ACQUISITION OF FRONT SIGHT
LAS VEGAS, Nov. 22, 2022 /PRNewswire/ -- PrairieFire announced today the United States Bankruptcy Court for the District of Nevada confirmed the Chapter 11 plan of reorganization under which PrairieFire will acquire 100% of the equity of Front Sight Management, LLC. The Bankruptcy Court is expected to issue a final order officially consummating the change in ownership in early December. At that time, PrairieFire will take over operations of the former Front Sight facility in Pahrump, Nevada, and change its name to PrairieFire Nevada.
The plan of reorganization received broad support from Front Sight's creditors and membership, and provides a favorable recovery to every constituency of creditors and substantial future benefits to the former Front Sight members. PrairieFire plans to continue the training and range activities and to make substantial capital improvements to the 550-acre facility in Southern Nevada, all with the expectation of making it the Home of American Shooting.
Bill Wilson, Chief Executive Officer of PrairieFire Nevada, explained, "The PrairieFire mission is simple – create the finest shooting facility in the world, and establish the pre-eminent shooting destination experience. We will continue to work closely with the former Front Sight members, employees, local residents, and Nye County officials in building the home of American shooting sports where members can explore, develop, and grow."
PrairieFire's sister company, Stagecoach Outpost, LLC, will lead the development of the site's 550 acres of real estate. The destination will include an expansive lifestyle residential and RV community. Todd Reid, Stagecoach Outpost's Chief Executive Officer added, "Stagecoach Outpost plans to invest heavily in the location's real estate, lodging and hospitality assets. This site provides the ideal location to develop a community embodying the spirit of the American frontier. The Pahrump Valley is beautiful, it has great weather, and it is framed by magnificent mountains on all sides. We are also grateful to be situated near a community of people who share our values – not to mention the entertainment capital of the world is just down the road. Our vision is to establish Stagecoach Outpost as the American community for those who want a bold, adventure-seeking lifestyle. It is a place to live the frontier spirit that resides in many Americans."
During the bankruptcy process, PrairieFire benefited from the broad support of Nye County officials. Debra Strickland, Nye County Commissioner for District 5 commented, "We are thrilled to welcome PrairieFire as they transform the former Front Sight facility, with significant capital and talent, into a one-of-a-kind, national destination in Nye County and Pahrump. This is a big win for Southern Nevada. We expect this to energize the community and provide a tremendous boost to the local economy."
The Bankruptcy Court is expected to enter the order confirming the plan in the coming days, after which PrairieFire will complete its acquisition of Front Sight.
PrairieFire is building the home to a true American sport. It believes there is greatness in every person and people are stronger by coming together to share experiences and push past boundaries. PrairieFire's unique training method will cater to everyone, from first-time gun owners to seasoned shooters. Its thrilling shooting experiences, designed by elite military veterans, will leave every member with a big smile, new-found confidence, and a renewed joy in the sport of shooting. This past Fall, PrairieFire successfully debuted its shooting championships with the world's largest shooting prizes for law enforcement and amateurs.
For further information about PrairieFire, please visit www.prairiefire.com or contact [email protected]
Contact Information:
PrairieFire Nevada
Todd Reid
(702) 530-5473
[email protected]
SOURCE PrairieFire
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