Remington Bankruptcy

Just read online that Remington is preparing to file for bankruptcy.

Isn't this a recurring theme with Remington? Or am I thinking about something else?

Not so recurring, it is only the 5th time.

Just another "win" for private equity.

https://www.nytimes.com/interactive/2019/05/01/magazine/remington-guns-jobs-huntsville.html

Don’t want NY Times!!!

Thanks for posting the article, great reading for me.

My 721, 722, 725 and 40x rifles are becoming dated.

hg401 wrote:Just another "win" for private equity.

https://www.nytimes.com/interactive/2019/05/01/magazine/remington-guns-jobs-huntsville.html

I had no idea Remington made assault rifles...

They owned bushmaster or at least their parent company did

jglenn21 wrote:They owned bushmaster or at least their parent company did

Despite the employee quote in the article, they do not manufacture assault weapons as they are semi-automatic only.  Remington did buy DPMS (a small AR manufacturer in Minnesota) and moved production.  They bought Bushmaster as well.  Private equity firms are all about extracting value from a company.  Then riding off into the sunset.

Sounds like a new name for a "holding company"
Stan

chopper wrote:Sounds like a new name for a "holding company"
Stan

In some respects worse as private equity firms want to make a profit and cash out quickly.

Potential Remington buyer -

https://www.reuters.com/article/remington-arms-bankruptcy/update-1-remington-arms-prepares-for-bankruptcy-navajo-tribe-in-talks-to-buy-source-idUSL4N2E32QP