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Thread: Remington Files for Chapter 11 Bankruptcy Protection Again

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    ədˈminəˌstrātər hawgrider's Avatar
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    Remington Files for Chapter 11 Bankruptcy Protection Again

    Remington’s search for a buyer — lately rumored to include the Navajo Nation — hasn’t gone well and the nation’s oldest gun maker filed for bankruptcy protection for the second time in two years yesterday. This amid the biggest gun-buying boom since, well, maybe forever.

    As the Wall Street Journal reports,

    The chapter 11 petition in the U.S. Bankruptcy Court in Decatur, Ala., marks Remington’s second restructuring since 2018, when it filed for chapter 11 and transferred ownership to investors including Franklin Resources Inc. and JPMorgan Chase & Co.

    Remington has been searching for potential buyers and was in talks to sell itself out of bankruptcy to the Navajo Nation before negotiations collapsed in recent weeks, leaving the company without a lead bidder, or stalking horse, in place.

    The manufacturer’s firearms and ammunition businesses could be sold off separately,
    https://www.thetruthaboutguns.com/re...tection-again/
    "The clever cat eats cheese and breathes down rat holes with baited breath." W. C. Fields

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    VIP Member! BucketBack's Avatar
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    You'd think they would have chosen to off some of their crap that wasn't selling these days, and NOT Bushmaster and DPMS products...you know the items that are in high demand and retail prices and more are being paid. AR rifles are a hot item now. Manufacturers can't keep up with demand. Remington's management has sucked for a long time.

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    Getting rid of the AR type products is nothing but virtue signaling.
    I fear the nation I loved may be gone. The best I hope for now is to die with honor in the coming civil war, and that my grandchildren be spared the pain of a tyrannical government.



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    Super Moderator rice paddy daddy's Avatar
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    After the way they ruined Marlin Firearms, and totally eliminated H&R and New England Firearms, I kinda hope they go broke.

    I do have three Remingtons, the newest being a 1999 Model 870, the oldest being a 1943 US Rifle, 30 Caliber, Model 1903A3.
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    Remington management has done nothing but trash what used to be good firearms for over ten years. I'm not surprised they are going under.

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    Super Moderator rice paddy daddy's Avatar
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    Quote Originally Posted by Coastie dad View Post
    Getting rid of the AR type products is nothing but virtue signaling.
    That could be.
    Another reason is the market is over saturated with cheap AR's.
    This is why Colt quit that market.
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    In today's politics, combined with the previous administration's politics, you would have to be really terrible at running your business if you are a firearms manufacturer that can't be profitable.
    Friends don't let friends shoot Glocks.

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    Dammit. I was at Wallyworld today looking for ammo boxes. Then I spot a Remington 700 ADL in .223 Remington with a scope clearance marked at $149.00. I put a hold on it. I'll probably pay more for the Timney trigger/safety than I will for the rifle. I saw Marlin .22s & Mossberg rifles there priced for more than the 700. I need another .223 like I need another butthole but for $149.00 it was hard to say no. Nobody had keys for the showcase so I couldn't get it today.

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    Super Moderator rice paddy daddy's Avatar
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    Quote Originally Posted by Sparkyprep View Post
    In today's politics, combined with the previous administration's politics, you would have to be really terrible at running your business if you are a firearms manufacturer that can't be profitable.
    Having to pay for union labor will do it, too.
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