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View Full Version : Remington filing for bankruptcy *UPDATE*



sasquatch
02-10-2018, 10:22 PM
Sad to see an American institution like Remington go under. I hope they can get out of it, but the quality of their rifles and shotguns have gone downhill lately, couple that with the failure and recall of their new line of polymer pistols, it's not looking good. It's a tough market for firearm manufacturers these days, the panic is over and they have to be very innovative to survive.

I have a couple old 700 rifles and an old 870 Wingmaster shotgun and they're awesome, but compare them to the newer models and you can see the decline of workmanship and quality control.

https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy-exclusive/exclusive-u-s-gunmaker-remington-seeks-financing-to-file-for-bankruptcy-sources-idUSKBN1FT04C?il=0&utm_source=Twitter&utm_medium=Social

sasquatch
03-26-2018, 12:30 AM
Remington is now forfeited to JP-Morgan/Chase.


Remington Outdoor Co., a major U.S. gun manufacturer, reportedly filed for chapter 11 bankruptcy protection on Sunday.

The company, which is facing mounting debt and lawsuits related to the Sandy Hook Elementary School shooting, announced last month that it would file for bankruptcy, but delayed doing so after the Florida high school shooting in February, according to the Wall Street Journal.

“We do not expect this filing to affect the families’ case in any material way," an attorney representing Sandy Hook families in their suit against the manufacturer said in a statement to The Hill.

Remington reportedly plans to hand over control of the company to its creditors.

The company is one of the oldest gun and ammunition makers in the U.S.

http://thehill.com/blogs/blog-briefing-room/380230-gun-maker-files-for-bankruptcy-protection-one-day-after-march-for