Following some unsuccessful privatization attempts, formerly state-owned Fégarmy was sold to the owner of the adjacent land, Fúzió-Pharma Pharmaceuticals Wholesale Rt. in 2003. Fúzió-Pharma planned to build a 16,000 square meter warehouse on Fégarmy’s land, but the project could not obtain the necessary building permits on time. The project was originally intended to help finance the repayment of loans. According to Company Court data, Fégarmy made HUF 22 million profit on HUF 555 million revenues in 2003, however, it had HUF 1.55 billion short-term debt.

After EU accession, the company could not continue firearms exports to the Dominican Republic, which accounted for 60% of its exports, because it could not secure the necessary import permits. Due to the subsequent loss of revenues, Fégarmy failed to repay its short-term debt, leading to the end of the firearms manufacturer, which was established in 1891.