French firearms manufacturer Verney-Carron, which had a contract to supply Ukraine with assault rifles, has declared bankruptcy, according to its parent company, CYBERGUN.
The company has stopped paying wages and suspended production due to a complete freeze on its finances.
Verney-Carron, which has a two-century history, currently holds a debt of €1 million. Despite receiving a €12 million investment from CYBERGUN, financial difficulties persist. A court hearing scheduled for February 12 is expected to confirm its insolvency. Efforts are underway to find a new shareholder to keep the company operational.
In 2023, Verney-Carron signed a €36 million agreement with Ukraine’s state arms exporter Ukrspetsexport. The deal included the…
