America’s oldest *** maker goes bust

[BeatMan]

Remington, a 202-year old American arms manufacturer, has filed for Chapter 11 bankruptcy protection. The company claims poor sales are the reason.
In a note to investors on Friday, Remington reported negative operating cash flow as of March 25 of $7.4 million, according to CNBC. The company’s CFO Stephen Jackson said in court papers that its sales dropped significantly in the year before its bankruptcy.

Remington said in February it seeks to reduce its $950 million debt by transferring control over the company to creditors. The company plans to end the procedure by May 3.

The company was founded in upstate New York in 1816, but later moved to North Carolina. Remington boasts that it supplied half the ammunition used by the US and its allies in World War I and World War II. In 2007 it was bought by the private equity firm Cerberus Capital Management for $118 million.

Initially, Remington’s sales rose under Cerberus amid a dramatic surge in total *** sales in the US. According to numbers quoted by the New York Times, *** production rose to nearly 8.6 million in 2012 from about 3.3 million in 2002.

Things got worse for the company in 2012 after the shooting at Sandy Hook Elementary School in Newtown, Connecticut. It turned out that the shooter who ****** 26 ******** used a Remington Bushmaster AR-15-style rifle.

Sales also plunged 27.5 percent in the first nine months under Donald Trump’s presidency. Historically, *** sales drop under Republican leadership because there is less fear among *** owners of stricter *** legislation supported by Democrats.

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[Jack Davenport]

Maybe Remington is not being managed soundly. Hey libtards, wanna slow the sale of guns? Elect Republicans.

 

[Johan]

Hey libtards, wanna slow the sale of guns? Elect Republicans.

Hey *** enthousiasts, you want more armed us citizens ? Elect Democrats

 

[Jack Davenport]

Hey *** enthousiasts, you want more armed us citizens ? Elect Democrats

Nah, we’re already armed to the teeth. I’m good.

 

[Mr. Daystar]

They have been mismanaged, and took on the debt of a couple of companies they acquired. They also have had some law suites because of the problems with the model 700.

 

[knowone]

Ten years ago it was worth $118Mil and the owners rack up $950Mil debt!!! (How much went to NRA and Congress?) They should be out of business!

Hopefully it's the first of many to go bust.

 

[Mr. Daystar]

Ten years ago it was worth $118Mil and the owners rack up $950Mil debt!!! (How much went to NRA and Congress?) They should be out of business!

Hopefully it's the first of many to go bust.

Yeah, that's brilliant, a shitload of hard working, taxpayers all out of work, and on unemployment, just because they make firearms. I'll tell you what, how about YOU feed their ********, and pay their bills.

 

[Jack Davenport]

Ten years ago it was worth $118Mil and the owners rack up $950Mil debt!!! (How much went to NRA and Congress?) They should be out of business!

Hopefully it's the first of many to go bust.

*** manufacturers don’t pay the NRA to protect them. They pay lawyers to do that.

 

[Chopper3000]

Yeah, that's brilliant, a shitload of hard working, taxpayers all out of work, and on unemployment, just because they make firearms. I'll tell you what, how about YOU feed their ********, and pay their bills.

They couldn't have been that hard working. The company has gone bust. Lazy. Good riddance.

 

[knowone]

*** manufacturers don’t pay the NRA to protect them. They pay lawyers to do that.

Yes they have lawyers but they have also paid for and control the agenda of the NRA for decades.

 

[Jack Davenport]

Yes they have lawyers but they have also paid for and control the agenda of the NRA for decades.

Wrong. NRA members do. That’s what the annual meeting is for. “ The *** lobby” is a coined term of an organized effort that doesn’t exist. *** manufacturers don’t have to lobby for much of anything. The only thing they really do is support and elect pro second amendment lawmakers. That’s it.

Now let’s talk about the abortion lobby.

 

[Jack Davenport]

They couldn't have been that hard working. The company has gone bust. Lazy. Good riddance.

Smaller more efficient companies like Del-Ton that makes the AR-15 that I own are taking their place. We still have plenty of *** manufacturers here, Archibald.
Good lord! You suck at trolling. Go have a bite to eat hoss.

 

[Little Red Wagon Repairman]

That’s a shame. I own 2 Remington Shotguns, a Model 870 Police Magnum Pump Action and a Versa Max Tactical Semi-Auto. Love those guns.

 

[georges]

That’s a shame. I own 2 Remington Shotguns, a Model 870 Police Magnum Pump Action and a Versa Max Tactical Semi-Auto. Love those guns.

Mossberg has been winning the pump action market worldwide in military and *************** agencies since three decades, they do it also with their semi auto shotguns, the 930 tactical and the 930jm pro series.

 

[Little Red Wagon Repairman]

Mossberg has been winning the pump action market worldwide in military and *************** agencies since three decades, they do it also with their semi auto shotguns, the 930 tactical and the 930jm pro series.

I almost bought a Mossberg 930 Tactical. I was really considering it but many years ago I had a Mossberg 590 that I didn't really like. I do like my Remington Model 870 Police Magnum. Those experiences were my deciding factors for buying the Remington Versa-Max Tactical. I know Mossberg make great, solid shotguns and know a number of people who own them and like them.