Parker Bows is Going Out of Business
Adam Scepaniak 12.27.18
Parker Bows, the archery company based out of Virginia, has announced that they have made the painful decision to close their business. Parker Bows used to be one of the fastest growing companies in not only Virginia, but in the entire United States. Now, the company started by Robert “Bob” Errett who came from Bear Archery in 1984, is closing up shop.
This is a portion of the announcement sent out to dealers of Parker Bows and their associated products on Monday, December 17th this year:
December 17, 2018
To the Dealers of Parker Compound Bows, Inc.
Re: Cessation of Business
Dear Sir or Madam:
Parker Compound Bows, Inc. (the “Company” or “Parker”) has made the difficult
decision to cease operations. We appreciate your loyalty and support over the
years. The Company has explored what it believes to be all possible options to
continue operations in one form or another or engage an investor or sell the
Company. Unfortunately, all of these efforts have been unproductive.
It is incredibly unfortunate to see a company like Parker Bows exit the archery and outdoors industries. By best estimates on the Parker Bows website, they may have employed roughly 300 people at the time of their closing. Their reach within the archery community extended throughout 1,200 retail locations with suppliers in 27 states as well.
For those who used their products, what did you think of them? They were in business for over 34 years and Bob Errett had one heck of a former teacher in Fred Bear. Hopefully all of the employees of Parker Bows can find stability for themselves in this holiday season and transition into new places of employment.
For dealers and retailers, the complete announcement of their closing can be read below with more of the important details that may more intimately affect your business as well.