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Remington Arms preps for bankruptcy sale to Navajo Nation
NYPOST ^ | 6/26/2020 | Staff

Posted on 06/27/2020 7:02:19 AM PDT by mac_truck

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday.

Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11, the Journal reported here, citing people familiar with the matter.

The report added that the filing could come with in days.

Remington had previously filed for bankruptcy protection in March 2018.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: 2ndamendment; bancruptcy; banglist; cerberus; chapter11; navajo; navajonation; nra; remington; secondamendment
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To: RoosterRedux
Sheesh. Don’t let those Injuns get their hands on good rifles.;-)

LOL! That was my first thought

21 posted on 06/27/2020 7:18:05 AM PDT by FatherofFive (Islam is EVIL and needs to be eradicated)
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To: mac_truck

Was thinking also of fire water.


22 posted on 06/27/2020 7:18:44 AM PDT by jimfree (My19 y/o granddaughter continues to have more quality exec experience than an 8 year Obama.)
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To: mac_truck

What’s next? A whiskey factory?


23 posted on 06/27/2020 7:19:06 AM PDT by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: Lurker

It would be the biggest irony of all time.


24 posted on 06/27/2020 7:19:47 AM PDT by ProtectOurFreedom
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To: mac_truck

Good to see that they are selling to Americans.


25 posted on 06/27/2020 7:19:49 AM PDT by Meatspace
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To: EEGator
That's my working hypothesis.😎
26 posted on 06/27/2020 7:20:18 AM PDT by Bonemaker (invictus maneo)
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To: Mr. Jeeves

Remington and Bushmaster we’re both bought by Cerberus. Remington began making the R-15 after Cerberus acquired them. Not sure it’s accurate to say that Remington makes the Bushmaster, but considering the current state of journalism, I should probably be happy they didn’t try to tie them to global warming.


27 posted on 06/27/2020 7:20:37 AM PDT by gundog ( Hail to the Chief, bitches!)
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To: boycott

I think that the Sandy Hook litigation is the likely reason for bankruptcy. If the Navajo nation is smart (and I’m sure that their advisors are) the transaction will be structured to leave liability from prior litigation in the past. I used to be an investment banker and even after 25 years, I can think of at least two structural alternatives that would prevent any old litigation liability from attaching to the new owners. The legal status of an Indian tribe (taxes and other immunities) could make it very interesting.


28 posted on 06/27/2020 7:21:43 AM PDT by TheConservativeBanker ($;)
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To: boycott

Well, among other things, they bought Marlin, fired all the workers, and relocated the factory to another state...then learned the hard way that those workers were the only ones that knew how to produce good product on the factory’s worn machinery.


29 posted on 06/27/2020 7:22:52 AM PDT by M1903A1 ("We shed all that is good and virtuous for that which is shoddy and sleazy...and call it progress")
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To: mac_truck

Firestick Arms


30 posted on 06/27/2020 7:23:20 AM PDT by SheepWhisperer (My enemy saw me on my knees, head bowed and thought they had won until I rose up and said Amen!)
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To: RoosterRedux
Don’t let those Injuns get their hands on good rifles.;-)

Or whisky

31 posted on 06/27/2020 7:24:18 AM PDT by usurper ( version)
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To: JBW1949
They come out with drek like this while at the same time ruining the Marlin 45 70 Guide Gun and they wonder why they are in a jam.


32 posted on 06/27/2020 7:25:39 AM PDT by Bonemaker (invictus maneo)
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To: mac_truck

33 posted on 06/27/2020 7:25:43 AM PDT by gundog ( Hail to the Chief, bitches!)
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To: Migraine

“So Remington is going to Begay now”?

Lol Most won’t understand your clever post.


34 posted on 06/27/2020 7:29:02 AM PDT by laplata (The Left/Progressives have diseased minds.)
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To: mac_truck

Are guns still bad if Tribal Persons of Oppressionism are making them?

Who can keep up with this stuff?

But seriously, if the Navajo Nation buys Remington, I hope lots of Navajos get good jobs and produce a good product.


35 posted on 06/27/2020 7:29:03 AM PDT by Tax-chick (Having a good memory means you never have to think of anything original to say.)
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To: Migraine

Good one.


36 posted on 06/27/2020 7:29:56 AM PDT by Tax-chick (Having a good memory means you never have to think of anything original to say.)
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To: Bonemaker

That’s what I thought when I saw the headline. something ain’t right with management.


37 posted on 06/27/2020 7:30:52 AM PDT by laplata (The Left/Progressives have diseased minds.)
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To: boycott
How did they go bankrupt? The usual way - investment bankers / private equity got their claws in them and sucked them dry. In this case it was Cerberus.

When you hear of a major corporate bankruptcy, always trace back to the investment banker or 'private equity' firm that loaded it up with debt and sucked it dry. You'll almost always find one 5 - 15 years back.

38 posted on 06/27/2020 7:31:15 AM PDT by PAR35
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To: DIRTYSECRET

Custer was the long arm/street muscle of the Union that Lincoln preserved. Just like the thugs at Ruby Ridge, Waco etc.


39 posted on 06/27/2020 7:31:38 AM PDT by Bonemaker (invictus maneo)
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To: Migraine

I’m in the Four Corners (Near Durango) and know what you mean.


40 posted on 06/27/2020 7:32:19 AM PDT by laplata (The Left/Progressives have diseased minds.)
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