The pump action shotguns were manufactured for Charles Daly/KBI by a Turkish maker, Akkar, in Istanbul.
Opinions vary regarding later unit production, after modifications were made to attempt to address reliability issues, but the whole product line suffers from a bad reputation as a result of widespread problems reported by purchasers of the initial production.
The Maxi-Mag warranty was a "lifetime" warranty, but I'm uncertain if this was the case right from product introduction, or an attempt to assuage apprehension over the poor initial reception. In any event, with the failure of the company, the warranty is as good as useless.
The firearms industry has always been mercurial, with manufacturers' and marketing brands' fortunes rising and falling with the ebb and flow of world economic markets as well as the winners and losers within the industry itself. The Charles Daly brand has been owned by several different and largely unrelated interests since it's inception in 1875. It's not inconceivable that the brand could be resurrected at some point. However, whether such a white knight will emerge this time remains to be seen. The brand has suffered due to missteps that surely had a part to play in the company's demise. This reality may have damaged the brand beyond redemption and would pose an obstacle to anyone wanting to revitalize it. It's unlikely that anyone would want to take on that mantle AND honor warranties for products that may have been the biggest issue for the previous ownership.
As long as your friend's gun performs adequately, he will get value for what he paid for it. If and when it acts up or breaks down, he will find that the cost of repairs will offset any residual value. Hopefully he didn't pay too much and he gets many years of service before that happens. (If ever it does. Slide-action shotguns are typically extremely reliable and it is possible that the production modifications to the original design were successful.)