Remington Is In A World Of Hurt
BY Herschel Smith
6 years, 6 months ago
Remington Outdoor Co. has only been in bankruptcy for a month, but creditors are already planning an out.
The U.S. firearms and ammunition juggernaut will likely go up for sale directly following its bankruptcy, according to people with knowledge of the situation. Certain stakeholders, some of whom haven’t been publicly identified, have already started putting out feelers for potential strategic buyers, these people said.
Rather than hold the collection of 13 brands that includes a 200-year-old rifle maker, ammunition manufacturers, silencer companies and traditional firearms manufacturers, the lenders will be trying to offload at a particularly fraught time.
You can say that again. This isn’t a good time for Remington to be doing anything like this, and I don’t expect them to last long.
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On April 24, 2018 at 8:42 am, ragman said:
I wouldn’t be surprised if Soros, Bloomberg, or some other useful idiots buy these companies for pennies on the dollar and then shut ‘em down.
On April 24, 2018 at 6:23 pm, James said:
I own two Remington firearms. My 870Wingmaster was the first gun I owned.
This is ok. There are plenty of manufacturers ready to fill the voids left by Remington if there Plant and Equipment go idle. Remington did this to themselves by not paying attention to QC and markets. It’s good if tooling goes to providers able to manufacture a good the market wants.
That said, it sucks to be a Remington employee and it’s a blow to the longstanding Remington legacy.