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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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| [The American Colonies were] all democratic governments, where the power is in the hands of the people and where there is not the least difficulty or jealousy about putting arms into the hands of every man in the country. [European countries should not] be ignorant of the strength and the force of such a form of government and how strenuously and almost wonderfully people living under one have sometimes exerted themselves in defence of their rights and liberties and how fatally it has ended with many a man and many a state who have entered into quarrels, wars and contests with them. — George Mason, "Remarks on Annual Elections for the Fairfax Independent Company" in The Papers of George Mason, 1725-1792, ed Robert A. Rutland (Chapel Hill, 1970). |
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