The writing has been on the wall. It is too bad they they failed to adapt and couldn't see that they were stuck in the mud.
Windham was selling a product line that belonged in a catalog from 2004, built on a mindset from 1994.
They never moved into the modern market.
Case in point: Across their entire rifle line, there were only seven rifles/uppers with free-floated barrels. Three of them were discontinued some time ago, including one that was nothing special and started over $1,500 (for something you could buy elsewhere at $750-900). Two were law-enforcement-only. That left two free-float rifles/uppers for the last couple years, and one of them was a 7.62x39 model priced at just shy of *twice* that of the competition.
So, not only were they barely touching what people wanted in today's market, and at prices far from competitive, but they were also shooting themselves in the foot with two of the models that they did make. Sub-50-year-old buyers do NOT like companies that sell LE-only products.
Many see it as an insult. "You're not good enough to have this."
Or, as a sign of a company that does not support the sale of NFA items to the general public. "Good for LE, but not for thee."
That's not even touching the politics involving the AR pistols that they made, and how angry it made younger buyers to see a company instantly comply with even the mildest suggestion that the ATF might change a rule - even though said rule hadn't even been officially proposed yet.
And, lastly, they did not sell parts. Most of the younger generation of gun people - not simple gun owners, but enthusiasts - don't buy ARs any more. They build what they want, and they do so with a mixture of parts from a dozen or more companies. Windham ignored that market even more than Colt.