French arms manufacturer Verney-Carron files for bankruptcy

Verney-Carron, a French firearms manufacturer based in Saint-Étienne near Lyon, will be forced to file for bankruptcy, its parent company Cybergun has confirmed.

The company has stopped paying wages and suspended production due to a complete freeze on its finances. Despite a €12 million investment from Cybergun, Verney-Carron, which began making bespoke shotguns and rifles in 1820, still holds a debt of €1 million.

In 2023 Verney-Carron signed a €36 million contract with Ukraine’s state arms exporter Ukrspetsexport. The deal included the delivery of 12,000 rifles for Ukrainian Armed Forces. The status of the contract is unknown but final deliveries had been planned for early 2025.

Verney-Carron has two arms, Verney-Carron which specialises in production of sporting arms and Lebel, the company’s defence arm. Cybergun is now in search of an industrial partner who can help stabilise the company.

“CYBERGUN has undertaken in-depth work on industrial restructuring. While the company does indeed have incomparable expertise in arms manufacturing and a recognized ‘made in France’ industrial capacity, Cybergun considers that it needs the support of an industrial partner specializing in small calibre arms”