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Remington Arms declares bankruptcy despite surging gun demand

Bucky

Bucky

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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.

The chapter 11 petition in the U.S. Bankruptcy Court in Decatur, Ala., marks Remington's second restructuring since 2018, when it filed for chapter 11 and transferred ownership to investors including Franklin Resources Inc. and JPMorgan Chase & Co.
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Remington Arms declares bankruptcy despite surging gun demand | Fox Business

This is great news. These types of companies shouldn't exist for profit. The government needs to take over Remington, Smith & Wesson, Sturm, Ruger, Sig Sauer, etc....

Alcoholic beverage control states still exist to regulate the sale of alcohol. IMO all states need to control the sale of firearms.
 
Bucky said:
Remington Arms declares bankruptcy despite surging gun demand | Fox Business

This is great news. These types of companies shouldn't exist for profit. The government needs to take over Remington, Smith & Wesson, Sturm, Ruger, Sig Sauer, etc....

Alcoholic beverage control states still exist to regulate the sale of alcohol. IMO all states need to control the sale of firearms.
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Whether it is real or imagined, Remington has developed a reputation as a crappy quality manufacturer.
 
Fledermaus said:
A sad day indeed.

Another US manufacturer going under.

Kinda sad some feel joy in that.
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It is sad companies like these are allowed to exist. Profit based on human lives. Absolutely despicable.
 
Fledermaus said:
A sad day indeed.

Another US manufacturer going under.

Kinda sad some feel joy in that.
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Some of my favorite shotguns and rifles. I always like their STS and Gun Club loads when I was into trapshooting. Both hulls reloaded the same too.
 
Bucky said:
Remington Arms declares bankruptcy despite surging gun demand | Fox Business

This is great news. These types of companies shouldn't exist for profit. The government needs to take over Remington, Smith & Wesson, Sturm, Ruger, Sig Sauer, etc....

Alcoholic beverage control states still exist to regulate the sale of alcohol. IMO all states need to control the sale of firearms.
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That's the stupidest OP I have ever read. Lets have the state control the sale of firearms meant to protect the populace from the State----whatever the **** could go wrong?

Meanwhile you cheer the removal of more US jobs---so wrong.

Edit: chapter 11 reorganization. So not closing its doors, yet.
 
Bucky said:
Remington Arms declares bankruptcy despite surging gun demand | Fox Business

This is great news. These types of companies shouldn't exist for profit. The government needs to take over Remington, Smith & Wesson, Sturm, Ruger, Sig Sauer, etc....

Alcoholic beverage control states still exist to regulate the sale of alcohol. IMO all states need to control the sale of firearms.
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So you're arguing that the state should take over those companies and sell their products at cost? Or perhaps give them away? You're not too clear.
 
Bucky said:
It is sad companies like these are allowed to exist. Profit based on human lives. Absolutely despicable.
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What about auto manufacturers? Cars kill far more people than guns do.
 
Bucky said:
It is sad companies like these are allowed to exist. Profit based on human lives. Absolutely despicable.
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If you actually believe that this bankruptcy will mean that all of the Remington models currently in production will just suddenly go away, then you don't understand how these things work. All that will happen is some big time investors will buy the company then turn around and sell off the parts (including the patents) which will then be manufactured by another company--- possibly even with the same "Remington" name stamped on them.

You libs crack me up.
 
Rich2018 said:
Great news, one less company peddling death.
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Entirely irrelevant to your Hate Guns theme.

Unless you think there are a great many people who will refuse to own any gun unless it is a Remington.
 
Bucky said:
This is great news. These types of companies shouldn't exist for profit. The government needs to take over Remington, Smith & Wesson, Sturm, Ruger, Sig Sauer, etc....
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I'm always happy when communists out themselves.

Alcoholic beverage control states still exist to regulate the sale of alcohol. IMO all states need to control the sale of firearms.
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The only thing they want to regulate and control is the states profit through tax revenues. Otherwise they don't really care, as evidenced by the millions of addicts sleeping on the street, eating from garbage cans, and ****ting on the sidewalks.
 
Fledermaus said:
Profit based on providing a legal item to American citizens as well as supplying the US and Allied military services....
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You really think a private for-profit company should be supplying military services? It should be controlled by a state entity.
 
Schism said:
I'm always happy when communists out themselves.

The only thing they want to regulate and control is the states profit through tax revenues. Otherwise they don't really care, as evidenced by the millions of addicts sleeping on the street, eating from garbage cans, and ****ting on the sidewalks.
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If you like these type of companies you must really love tobacco companies.
 
Bucky said:
You really think a private for-profit company should be supplying military services? It should be controlled by a state entity.
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Even low bidder stuff is probably superior to no bidder stuff.
 
Despite the political aspect to all this, the harsh truth is Remington cannot compete against others in this space. They have too much debt and not enough means to increase revenue despite market conditions.
 
Fledermaus said:
Remington 572 -.22 rimfire pump is one of my favorite repeaters.
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I have a Remington 552 Speedmaster.22, and it's never been reliable. I like it fine, and it's fun to shoot but it misfires way too often, maybe 1 shot in 20. I've had two gunsmiths work on it and it might have gotten slightly better, but never fixed.

But I've been shooting a basic 1100, 2 3/4 12 gauge for decades, no telling how many thousands of rounds, and it's been a great gun. Also have the duck hunting equivalent in a 3" and it's also reliable in the field. Those two aren't flashy, but they work for me...
 
JasperL said:
I have a Remington 552 Speedmaster.22, and it's never been reliable. I like it fine, and it's fun to shoot but it misfires way too often, maybe 1 shot in 20. I've had two gunsmiths work on it and it might have gotten slightly better, but never fixed.

But I've been shooting a basic 1100, 2 3/4 12 gauge for decades, no telling how many thousands of rounds, and it's been a great gun. Also have the duck hunting equivalent in a 3" and it's also reliable in the field. Those two aren't flashy, but they work for me...
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I dumped my 552 because it went full auto on occasion.

Fun, but less than legal.

One of the guns I traded in on a gun buy back. Made a profit on it.

And it was almost identical to the 572 in appearance.
 
OrphanSlug said:
Despite the political aspect to all this, the harsh truth is Remington cannot compete against others in this space. They have too much debt and not enough means to increase revenue despite market conditions.
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I don't know much about the company, but it can't have helped they were the subject of an LBO back in the mid 2000s. Typical predatory disaster - buy a company, force it to take on the debt for the purchase, then it fails when it can't service the debt the predators took out and shifted to the company, and cashed in on a decade earlier.
 
Fledermaus said:
I dumped my 552 because it went full auto on occasion.

Fun, but less than legal.
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Not to mention dangerous as hell.... I've never had that happen, but just plinking the firing pin will hit the .22, and just not fire, like it wasn't quite deep enough or with enough force, for some unexplained reason. So I wait a few seconds, eject it, hope it doesn't go off, then keep shooting, then typically bury the shell in some dirt. Haven't shot it much in years.

One of the guns I traded in on a gun buy back. Made a profit on it.

And it was almost identical to the 572 in appearance.
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Sounds like a good use of that gun. Disappointing though.
 
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