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This was discussed here recently and comes as no surprise. America's oldest firearm manufacturer files chapter 11 mostly due to us having an actual president of the people for the people. Panic buying of guns due to government over reach is gone for now and this is the downside of it. Perhaps Remington can get some government contracts since military spending is up.
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Maybe the renewed assault rifle hysteria will actually do them some good! -
I think the company is a goner. Some one might buy the name but even that might go.To Error Is Human To Forgive Is Not SAC PolicyComment
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It doesn't look good. Nearly $1B in debt. They had just built a new facility in Huntsville AL in 2014. Along with Remington goes Marlin, DMPS, Bushmaster and even Parker Bros shotguns.
"Remington is the largest U.S. producer of shotguns and rifles. The company has developed or adopted more cartridges than any other gun maker or ammunition manufacturer in the world."
Even my 1903A3 and Mosin Nagant were made by Remington.
Seems to me they could become profitable selling 22LR ammo alone.
As far as someone buying the name that's already been done in 2007. Apparently they ran it into the ground now owing much more than the original purchase price. I believe this is the same company that bought Chrysler from MB and couldn't make a profit. Perhaps George Soros is behind it as well.
"Remington Arms, the gun maker that has equipped American soldiers for 150 years, has agreed to be acquired by a private equity firm, Cerberus Capital Management, for $118 million, a statement by Remington said yesterday." (2007)Comment
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If you recall your mythology, those who meet Cerberus are at the gates of Hell. Makes one wonder why they chose that particular name."Remington Arms, the gun maker that has equipped American soldiers for 150 years, has agreed to be acquired by a private equity firm, Cerberus Capital Management, for $118 million, a statement by Remington said yesterday." (2007)2016 Chicago Cubs. MLB Champions!
**Never quite as old as the other old farts**Comment
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this has been coming for a long time, remingturd was already spiraling down when ceberus piled on and made it even worse. the only reason it took this long is because obamma was selling guns.
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be careful, the grammar cop on this forum will get ya! lolComment
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Maybe they should think about getting off their dead asses and counter-suing those who have dragged them into court on spurious charges."No man's life, liberty, or property is safe, while Congress is in session." Mark TwainComment
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$1B in debt? How? Was it the usual private equity play to buy a company and load it up with debt? Then screw the creditors and leave others to pick up the pieces?Comment
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Oh, I enjoy you watching you make the same mistakes over and over again. Please continue as it gets funnier with time.
Actually there is a lot of good writing on this forum. Even when I don't agree with an idea, I respect intelligent use of language to get a message across. It says something positive about the messenger.Comment
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When a corporation is purchased by a holding company headed by an attorney, the handwriting is on the wall. Regards, ClarkComment
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