Posted on 06/27/2020 7:02:19 AM PDT by mac_truck
Remington Arms, Americas 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 ...
That is pretty bad when gun sales are soaring, guns are flying off the shelves, and your company declares Chapter 11 bankruptcy.
The class action lawsuits and settlement against the Model 700 trigger assembly didn’t help either.
I’d actually been looking at the Remington 870 as a choice for a shotgun, but if the company is too badly mismanaged to count on for future support for the gun, I’ll probably look elsewhere.
My dad gave me his Marlin 336 on 30.30 cal. He’d used it for lot of hunting. When I bought my Remington 742, I passed it down to my oldest son. He treasures it and will likely pass it down to one of his sons.
“Firestick Arms”
That could have potential.
I would guess it would be a very unhappy place to be employed right now. Who knows if you will still have a job a couple of months down the road, and at what price?
My son has my Marlin 336 and also my Remington 7400 .270 cal...I just gave him my Remington 870 12 ga. this past Christmas...
My two handguns were lost in a boating accident, so I’m weapons free...(big a$$ed grin)
Damn good shotgun....
I used my 870 to try and help keep the dove population down...Did pretty good at it too...;^)
Lol Most wont understand your clever post.
I got it. Tso funny.
Have you considered a Mossberg?
Their Maverick line is good quality,inexpensive, and assembled in Texas.
This might be great news, giving the 2nd Amendment some shelter from frivolous lawsuits.
Hell, I bought mine all her rifles, pistols and machetes. Fine shot along with our now grown kids.
They said theyd come for me last, so I have that going for me. 😬😂🇺🇸
Went to a local gun shop in a mid-sized MI city recently. There were three white guys and seven black guys shopping. Some of the black guys were giggling as they perused the items.
Where I live getting a concealed carry permit is very easy, but some of the people you see getting them appear to be the people that make you want to carry. However, I have the feeling that they would be carrying permit or not.
Good for them! I wish all success!
Remington is a case study of ills: poor management, high debt load, obsolete factory, a raft of product liability claims, and a lack of product innovation.
I was in the Army and knew a few from various Infantry Units. They escaped their Tribal nation poverty and hell. The one's I knew were outstanding hardworking soldiers. Yes,they drank everyone under the table, strong as Ox,masters at marksmanship and fearless leading point.
Thank you. Great answer. Might allow the company to thrive again
That is full cycle. I guess.
‘We’ (get blamed for every thing else) took their land, forced them onto reservations ‘for their own protection’ virtually took their guns away, fed them alcohol to keep them in line, some got ‘smart’, went to school, then law school started reading some laws, saw they were exempt in many things, now rich (I guess WE are still subsidising them?).
Now able to buy a weapons company.
Next they will be moving to the cities, get a huge voting block, start filling all the major offices, then round up the ‘Whites’ and ‘non reds’ put them on reservations for their ‘own safety’ while the ‘new natives’ will get restless and call to bring back scalping.
AND THE BEAT GOES ON.
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