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. 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, NV, and change its name to PrairieFire Nevada._x000D_
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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._x000D_
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“The PrairieFire mission is simple – create the finest shooting facility in the world, and establish the pre-eminent shooting destination experience,” Bill Wilson, CEO of PrairieFire Nevada, said. “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.”_x000D_
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PrairieFire’s sister company, Stagecoach Outpost, will lead the development of the site’s 550 acres of real estate. The destination will include an expansive lifestyle residential and RV community._x000D_
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“Stagecoach Outpost plans to invest heavily in the location’s real estate, lodging and hospitality assets,” Todd Reid, CEO of Stagecoach Outpost, said. “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.”_x000D_
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During the bankruptcy process, PrairieFire benefited from the broad support of Nye County officials. “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,” Debra Strickland, Nye County Commissioner for District 5, said. “This is a big win for Southern Nevada. We expect this to energize the community and provide a tremendous boost to the local economy.”
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