Remington Arms files for Chapter 11

[Gunner]

Wow, America’s oldest gunmaker, going out of business. It appears that the Navajo Nation is the high bidder and is trying to buy the company’s assets out of the Chapter 11 proceedings.

https://nypost.com/2020/06/26/gunmaker-remington-preps-for-bankruptcy-sale-to-navajo-nation/?utm_source=Outbrain&utm_medium=Discovery&utm_campaign=business_content&utm_content=Remington+Arms+preps+for+bankruptcy+sale+to+Navajo+Nation&utm_term=Gray+TV+%28Gray+TV%29_WMTV&dicbo=v1-964376750c1e54d1dcccb4ea8bd8686e-00730586b2348a4d7fc0870204d9d20351-gi3donzrgnrdmlldmqytgljug4zdaljzmqzgclldgq2gendfg4ytszjumq

I love my Remington 870 Home Defense/Police riot shotgun – I sure hate to see them go out of business.

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[GTO Man]

It is very surprising considering the paranoia in this country around guns and ammo. Ammo manufacturers are laughing all the way to the bank. I would be shocked if Remington actually went out of business. IMO, there has to be some level of mis-management for them to be in this position. Many manufacturers have dumped cheap guns on the market which has really has changed the market. All the misinformation out there plays on the fears of the gullible who live in this country.

[GTO Man]

Remington emerged from bankruptcy after being purchased by the Roundhil Group. They are moving operations to a southern state named Georgia.

ABC News on Remington

[Author]

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