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The
Below Comments Relate to this Newslink:
Is Remington Outdoor about to go bankrupt?
Submitted by:
jac
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What was once an upbeat mood in the gun industry, fostered by a multi-year rally in weapon sales, has now become a major hangover. The most obvious indicator of that change: Privately-held Remington Outdoor is now at risk of declaring bankruptcy after a collapse in sales and profits.
The rifle and shotgun manufacturer's third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year.
And with its credit rating in the trash bin, the future is bleak for "America's oldest gunmaker".
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| Comment by:
MarkHamTownsend
(12/9/2017)
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Remington, now part of Cerburus , has become it's own enemy. A few years ago it produced the R51 automatic, a modern version of an old gun, but they royally scwewed the pooch on quality assurance, causing many returns and a 2.0 version. Many gun people are leery of its products....the model 700 rifle due to its trigger....less than stellar in the model 870 shotgun.....
If they'd make good guns, and cater to their customers wants, they'd be in a better position to weather a downturn in purchasing. |
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| QUOTES
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| "There's no legitimate use for a gun like this." --Chicago Police Superintendent Philip Cline, brandishing a 9mm semiautomatic handgun at a news conference (Chicago Tribune, "Special unit hauling in guns, drugs" by Glenn Jeffers, January 29, 2004) |
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