Seems as though that is one extremely competitive business. Especially on the lower price points.
They had aquired Celestron back in 1998 which was a premier optical manufacturer of Telescopes. It's a shame this could be the end of that company too. Hopefully someone will at least buy the Celestron division when the company is liquidated.
You could try Bushnell with the Trophy series if you are looking for a decent priced scope. Quality is excellent and surprisingly so for the money.
I can remember reading an article in Fortune Magazine a few years ago that revealed that over the previous 40 years, better than 50% of the top 100 companies were gone -- not bought out, just plain gone. It happens to the big ones as well as the small ones. The instances that I'm familiar with, it is the top management that brings them down (and I don't say that being influenced by Enron). I was talking to an "old timer" today at the range and one of the insights he gave me was that a management change at Redfield created an unworkable atmosphere, so one of the employees left -- and his last name was Burris. If correct, that would seem to be poetic justice that doesn't often occur.
I dont want to speek ill of the dead, but I had a scope sent back to them and they said it was to old. They did nothing for me. Lifetime gar of owner or scope? I have not delt with them since. I think that customer service is the key to staying around. When I am happy about a company's sevice I tell a lot of people, when I am not happy I tell everyone around. Just my 2c.
I agree, if you have a problem and a manufacturer does not stand by his product we need to spread the word and shop elsewhere.
The Tasco 1.5 - 5.5x scopes are an excellent value. They cost about $60.00 and seem inpervious to recoil. The simmons is a better scope but the Tasco is a good value.
The 8-32x and 6-24x target scopes are good ones. They repeat when you adjust them, come with good sun shades, and for shooting off the bench with light kicking cartridges they last forever. I have one of each and am well satisfied. The low cost allows me to keep scopes mounted on Contender barrels and not do a lot of switching around.
Must admit i havent seen any thing here about Tasco shutting down ? Is it world wide or just U.S distributor ?
I must confess to being a Tasco fan i have used them for 20 yards, cheap ones on my first air rifles up to my latest Tasco Titan 3-12 X 52 mm with 30 mm tube like the German scopes, excellant scope it looks lovely on to of my .308
Never had any trouble or regrets. The world clas plus range are my favorite excellant value and excellant sight picture the 6 X 44mm is simply superb ! If indeed they are shutting up shop you could well get a bargin, keep your eyes open for the 6 X 44 mm.
I spoke with top management at Midsouth Shooter's Supply today. They received a fax today from Tasco indicating that the company is totally defunct. No chapter 11 reorganization nonsense, just plain flat out of business. No deposit, no return, no $200 for going around Go!
Seems Tasco has welched on many, many dollars worth of warranty return merchandise to Midsouth over the last several months. Too, they fished out on co-op advertising expenses incurred in Midsouth's 2002 catalog (look at the inside of the rear cover of the catalog... full color, full page of only Tasco products), and haven't been shipping product reliably for several months now.
Too bad... they had a good product line for the dollars invested, and their new EXP optics, both scopes and binoculars were outstanding in optical clarity and light gathering qualities.
Nope, no rumor... just plain truth... they're gone!
Tasco starts selling assets
Telescope maker squeezed by debt
BY PATRICK DANNER [email protected]
Miramar-based Tasco Worldwide, an importer and distributor of binoculars and telescopes and once one of South Florida's largest privately owned businesses, began the process of liquidating on Tuesday.
Tasco tapped Miami accountant James S. Feltman to take control of the firm's assets and represent creditors' interests. The liquidation will be overseen by the Broward County Circuit Court.
The company, which controlled production of its merchandise by manufacturers in the Far East, had been searching for a buyer before selecting Feltman to oversee the sale of its assets.
''While the lenders were very cooperative, it wasn't able to find a buyer to preserve the company as a going concern,'' said Brian Gart, a Fort Lauderdale lawyer representing Tasco. He added it ''remains to be seen'' whether the company is sold intact or in pieces.
Gart said Tasco wasn't able to service the debt to its secured lenders, led by Heller Financial, after a dramatic drop-off in sales. Last year, Tasco went into default on the lending facility, which stands at about $30 million.
Tasco still has a couple of dozen employees on the payroll to assist with the liquidation, which is expected to run through September, Gart said. Two weeks ago, a company official said Tasco had about 70 employees.
Tasco ranks have been significantly thinned since company founder George Rosenfield sold the business in March 1996. At the time, it employed 160 in Miami-Dade County and as many as 40 in distribution in the state of Washington. Annual revenue was about $110 million when the sale closed, he said.
Reached Tuesday, Rosenfield lamented the demise of a business he started in 1954.
''The fact that this happened to a company I built from scratch, it is painful,'' Rosenfield said. ``But I can't control it. We had something we built that I was very proud of, and they blew it.''
Tasco officials couldn't be reached for comment. Tasco's largest shareholder is Rice Capital, a Houston-based mergers-and-acquisitions firm. Rice officials also couldn't be reached for comment.
In 1997, Tasco moved its headquarters to Miramar, where it occupies 48,000 square feet in the Miramar Park of Commerce. The facility handled repair and warranty work, some assembly and distribution.
The new ownership group ''lost that human touch,'' Rosenfield said. ``When you're selling merchandise, the most important thing you have is credibility with customers and resources. They started doing things that lost credibility.''
Among the companies interested in acquiring Tasco were Bushnell Corp. of Kansas and Meade Instruments of California, Rosenfield said. Gart added some of Tasco's suppliers expressed an interest in acquiring some of its assets.
Feltman was selected to oversee the sale of its assets, which include the company name, trademarks and intellectual property, according to Jerry Markowitz, a Miami lawyer representing Feltman. A similar proceeding was filed Tuesday in California for Celestron International, a telescope maker in which Tasco owns all the stock.
''There are a number of companies advised of the assignments who expressed serious interest in acquiring the companies,'' Markowitz said. ``We're reaching out to the people who have a continuing interest.''
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