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Posted on 02/08/2018 6:40:22 PM PST by jazusamo
One of the biggest U.S. gun manufacturers is taking steps toward filing for bankruptcy, according to Reuters news service.
Remington Outdoor Company Inc. has “reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy,” Reuters reported Thursday evening, citing “people familiar with the matter.”
According to those sources, the debt-ridden company missed a payment on its debt this week and is seeking “debtor-in-possession financing” that would let the company continue operations once it went bankrupt.
(Excerpt) Read more at washingtontimes.com ...
After their disaster R-51 handgun, and subsequently offering R1 1911s in exchange, I’m surprised they’ve managed to hold off bankruptcy this long.
Yep. Some bad decisions were made.
Ping.
Takes some genius to bankrupt an arms manufacturer in the biggest gun bull market in history.
the best gun sales campaign on the planet is no longer active. it’s name was barack obama.
Obama isn’t selling guns anymore.
Buddy of mine worked for them as a sales rep until about a year ago...got fed up and left.
gmta.
Don’t forget the trigger thing on the 700 that they flubbed. I know several AR15 owners that really wanted a tack driver like the Remington 700, but were scared off by the trigger fiasco. So they got an AR instead. It’s not the same type of rifle but when the tax refund check comes in, you just gotta get something.
“Obama isn’t selling guns anymore”.
Good one! That bastard must be kicking his own ass.
Ruh-Roh...so much for the H’vlle facility
Don’t they own “everybody”. What brands will this affect?
I own one of the last 870’s they made in 28 GA.
There is a line around the block to beg me to sell it to them.
Well i got my over and Under...
Maybe I better stock up on Remington Copper Solids for my slug gun. It’s the ammo that works best in my gun’s barrel.
Very sorry to hear this. I have the 870 in several gauges and the 700 in several calibers. Great guns. Real American brand.
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So a 202 year old company, now suddenly bankrupt. Sounds like the work of the modern MBAs and executives. They could screw up a rock fight.
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