Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.
Remington, which supplies weapons for hunting, shooting sports, law enforcement and the military, sought chapter 11 protection and will try to sell its business at a time when civil unrest and worries about personal safety have driven firearm sales to record highs.
Outstanding
Sad. Not a political statement, just sad an old institute is dying.
They know that if Biden wins their finished there getting out while the gettin is good RUN BABIES RUN
Sad to see that, but I'm a Ruger fan.
How can a gunmaker file for bankruptcy in this environment!! Guns/ammo are impossible to find.
Falling QC in their line of hunting/precision rifles, revamping the R51 (maybe the worst pistol ever made), outcompeted by Mossberg on the shotgun line, and ammunition that is only good for type 2 malfunction clearing practice. It's really no wonder. Get it together.
shootin' blanks
Trump will save them...just watch.
It must be nice having legal loopholes that allow you to avoid paying your debts....
Not enough school shootings to keep the business afloat... Reopen the schools!
Scam artist
Thoughts and prayers.
Uhhhhm?
short barrels in business
How stupid is their CEO. Remington should look for a new 'heart' to run the company😎
That’s ridiculous! They shouldn’t be bailed out by stiffing creditors with all the sales they have.
My hometown factory needs a Democrat in the White House to scare all the wingnuts into buying more guns. When Obama was prez they pumped em out quicker than an 870
Sounds like a good business model
Kind of like owning two casinos and losing both. Who does that?
Thank goodness 😅- now we just need all the other weapons manufacturers to go broke and we might feel a bit safer
Holy shit, not good for guns
Soon, guns will be more valuable than any currency. The finacializers will kvetch greatly when that happens.
Remington is known more for hunting, so the worried buyers aren't really buying what they make.
Outdone by mossberg in the low end and everyone else on the high end. No AR, and an “ok” 1911 with east coast manufacturing costs.
Thoughts and prayers
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Source: CNBC - 🏆 12. / 72 Read more »