Gunmaker remington going bankrupt

[Dr. Who]

Their sales are down because no one is currently panicking gun buyers. The gun industry experienced a huge surge under the last government because of fake propaganda that people were coming for their guns. Now, not so much. Kind of ironic.

[zelmo1234]

Their sales are down because no one is currently panicking gun buyers. The gun industry experienced a huge surge under the last government because of fake propaganda that people were coming for their guns. Now, not so much. Kind of ironic.

Actually if the left had a clue, they would understand that Remington of all companies had the least to gain. Safety stated that the Bushmaster AR-15 was used in a shooting, but what he does not understand is that AR parts are for the most part interchangeable, Remington while it has its military / self defense offerings, was still based on being a company for the sportsman.

Ruger did a much better job in adjusting to the market.

[Common]

repost

[stjames1_53]

Today


'Everything Trump touches Dies'




Remington, Gun Maker Tied To Sandy Hook Massacre, Makes Deal With Lenders


http://www.courant.com/news/connecticut/hc-ap-remington-bankruptcy-sandy-hook-20180212-story.html


https://www.google.com/search?source=hp&ei=DGWCWs_hHuiIggefy6awAg&q=Remin gton&oq=Remington&gs_l=psy-ab.3..0i131k1j0l9.1935.4299.0.5632.10.9.0.0.0.0.12 7.816.8j1.9.0....0...1.1.64.psy-ab..1.9.816.0...0.p9qT5HAmYCc


MADISON, N.C. — Remington, the gun maker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it seeks Chapter 11 bankruptcy protection.


The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.


The company was cleared of any wrongdoing in the shooting, but investors repulsed by the massacres distanced themselves from the company's owner, investment firm Cerberus Capital Management. Cerberus acquired the gun maker in 2007, just when gun sales began to skyrocket.



Firearm background checks, a reliable barometer of gun sales, had risen steadily for at least a decade.


That changed last year with the election of President Donald Trump, and it has taken a toll on the gun industry.



Gun sales spike on the election of candidates who are perceived to be more likely to pursue more stringent gun control laws, whether or not there is any truth in that perception.



The opposite has occurred since Trump was elected.

He became the first sitting president to address the National Rifle Association in three decades, telling members at their annual meeting last spring that “You have a true friend and champion in the White House.”









In this Jan. 28, 2013, photo, firearms training unit Detective Barbara J. Mattson, of the Connecticut State Police, holds up a Bushmaster AR-15 rifle, the same make and model of gun used by Adam Lanza in the Sandy Hook School shooting, during a legislative hearing in Hartford.

chapter 11 is merely a reorganization....what is so important about this, exo? More pandering to your deepest terror? or merely projecting, once again..............

[nathanbforrest45]

I don't understand. How does President Donald Trump have anything to do with this?

Besides there are dozens of gun manufacturers in this country.

http://www.americanfirearms.org/manufacturers/

[Max Rockatansky]

Actually if the left had a clue, they would understand that Remington of all companies had the least to gain. Safety stated that the Bushmaster AR-15 was used in a shooting, but what he does not understand is that AR parts are for the most part interchangeable, Remington while it has its military / self defense offerings, was still based on being a company for the sportsman.

Ruger did a much better job in adjusting to the market.

When it comes to guns, the Left does not have a clue. Jus' sayin'.

[Ravens Fan]

Notice

Duplicate posts merged.

If you have questions or concerns about this moderation action, please use the Report button to let us know.

[Cletus]

There are a number of factors coming in to play here.

Obama is gone, so gun owners do feel more secure (rightfully so) these days, but there is more than that to consider.

The market is much more broad than it was in Reminton's heyday. There is really nothing that Remington does that someone else doesn't do better and in may cases, for less money. The Remington 870 is still the premier law enforcement shotgun in the country, but many agencies don't even carry shotguns any more. They carry ARs because they are easier to train in and use. The 700 is still a good rifle, but it has a lot of competition. Even the pimped out heavy barrel versions are being outclassed by guns like Ruger's Precision Rifle. (I have 3 precision rifles... A Remington 700, A Winchester Model 70, and a Ruger Precision Rifle and I would rank them Ruger first, Winchester second, Remington third.)

Remington handguns aren't even really in the game, although they sell a fair number of R1s. They are decent guns, but are overpriced and fall short compared to some other brands.

Bushmaster sales reflect more than just being tied to Sandy Hook. I actually think that is negligible. People don't care about that. AR manufacturers are a dime a dozen now. Ruger, Smith and Wesson, Sig, Colt and a whole bunch of smaller manufacturers are in the AR business now and the market is flooded with them. That fact has more to do with the drop in sales than anything else.

Remington just hasn't kept up.