Remington is the largest manufacturer of rifles and the second largest manufacturer of shotguns. Its storied history stretches all the way back to 1816, nearly 40 years before Smith & Wesson or Colt Manufacturing.

Today, debt on the company's books has ballooned to almost $1 billion, the result of a failed IPO bid in 2011 and outrage over the Sandy Hook shootings a year later. That tragedy caused some of Cerberus' biggest investors to demand it sell the firearms company or cash them out, but it was unable to find a buyer. Remington ended up taking on debt to buy shares from Cerberus.

After this latest earnings disaster, the Standard & Poor's ratings agency cut Remington's corporate credit rating two full notches, from the already junk bond status of CCC+ to CCC-, a move that will force it to pay even more to borrow money, even as its high-yield debt becomes less attractive to investors.

With the firearms and ammunition manufacturer burning through cash as a result of falling sales, S&P expects it will undertake a restructuring within the next year.

Ridiculous that they have been so poorly run that they are about to fold up. They just had 10 years of an incredible market and clearl6 should have positioned themselves better than this

Welcome to the liberal democrat way of getting their way(and of course George Soros). If the libturds have their way, firearms and ammo will be made for government purchase only, leaving out citizens!!! Think back a few years, Homeland Security under Obama bought like over 10 million rounds, Homeland Security?????Really???????

wait... haven't the threats of gun laws caused record firearm sales across the country the last 10 years? I have gun shops popping up all over by me. These threats are only threats, and very few (if any) anti-gun laws have passed. I guess California is an exception....

where did you find this article?

And Obama caused the price of lead to triple, making ammo cost go up!

That sucks, considering how long they have been running and have made some good products over the years.

Todays mega-corp management by Cerberus had them extending
themselves with aquisitions to buy other companies... Just so that
Cerberus could carve out their retirement programs and sell off
assets to benefit Cerberus shareholders topped off with forcing
Remington to borrow to buy stock shares in Cerberus has led to
their current problems...

Profits at Remington have been 90 - 120 million annually and this
is the first year of reduced profits... Not bad for a company that
Cerberus originally bought for just over 200 million... Sadly it seems
they plan to carve them up like sushi now...

Those are tremendous numbers compared to Smith & Wesson...

The stock price for American Outdoor Brands plunged as much as 20% in pre-market trading following the gun company's dismal earnings report. American Outdoor Brands (AOBC), a major gun manufacturer which owns the Smith & Wesson brand, reported a 90% drop in quarterly profit when compared to the same period last year. Profits went from $32 million last year to $3.2 million.

Well it was announced this morning...

Remington has filed for bankruptcy protection....


Remington, which began with a hand-built rifle in 1816, went on to supply more than half the ammunition used by U.S. and its allies in World War I and World War II, according to its website. It currently employs 3,500 people and is among the largest American manufacturers of ammunition and firearms.

More than 11 million firearms were manufactured in the U.S. in 2016, up from fewer than four million a decade ago, according to data from the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Another pillar of American gun industry, Colt Holding Co., also took a trip through bankruptcy in 2015.

The case is: In re Remington Outdoor Company Inc., 18-10684, U.S. Bankruptcy Court, District of Delaware (Delaware.)

Sad, just sad.

Remington, Winchester, Marlin, Smith and Wesson.... most all of them have been sold, bankrupt, restructured a couple of times over.

Remington restructured and their quality control went to crap. My brother had me set up a brand new Remington 700 tactical for him, and I was amazed at how sloppy the work was. Had to get the barrel re-crowned and other work done to make it shoot like it is supposed to.

Remington will not go away. Someone will buy them out, or after the bankruptcy they will restructure. Hopefully they get their quality back up where it used to be

I will tell you who is really doing some smart things. Sig Sauer picked up Robbie Johnson and a couple of the retired Delta boys. Robbie was a 3rd battalion sniper turned Army Marksmanship Unit Service Rifle competitor, turned 3 -gun shooter. He worked for Remington for a while, and went over to Sig. The Sig boys are really putting together some top notch ARs. To bad they do not sell hunting rifles and shotguns.

Bankruptcy twice....damn

https://www.npr.org/2020/07/28/89616016 ... since-2018