![]() The company said it couldn’t take advantage of increased demand because the pandemic disrupted its manufacturing. This time, Remington is heading back to court even as gun sales revive amid civil unrest in the U.S. It emerged from bankruptcy in May 2018, minus more than $775 million of debt, with ownership transferred to senior lenders. Cerberus Capital Management had acquired Remington in 2007, and the firearms and ammunition giant accumulated nearly $1 billion in debt. It was felled by too much debt and overstocked gun dealers, who were left with unsold weapons after the surprise loss of Hillary Clinton - an advocate of gun control - to Donald Trump in the 2016 election. Remington went bankrupt before in February 2018. The Wall Street Journal reported that the company held talks with the Navajo Nation about a sale, but those discussions fell apart.ĭ’Arcy said the company is continuing to talk to its unnamed potential buyer as well as others. at the factory and that the plant will remain open even after the sale. The company landed one potential offer for all of its assets, but the unnamed suitor delayed making a final decision after the deal became public, company chief executive Ken D’Arcy said in court papers. They bought the Remington gun factory that builds the once legendary 870 and. Remington will continue its hunt for a buyer, which began months before seeking court protection from creditors. ![]()
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