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Thread: Firearms maker Remington Arms Co. filed for bankruptcy protection

  1. #1
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    Default Firearms maker Remington Arms Co. filed for bankruptcy protection

    Not good .....

    Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.

    Remington, which supplies weapons for hunting, shooting sports, law enforcement and the military, sought chapter 11 protection and will try to sell its business at a time when civil unrest and worries about personal safety have driven firearm sales to record highs.

    https://www.foxbusiness.com/lifestyl...ing-gun-demand
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  3. #2
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    Sad to hear. So, will my model 7600 lose or gain value??
    It's not the mountain ahead that wears you out, it's the grain of sand in yer shoe.

  4. #3
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    Default Firearms maker Remington Arms Co. filed for bankruptcy protection

    I thought they were selling out to the Navajo. Nope offer was rejected


    A surprising investor made a bid to do just that. Perhaps not surprisingly, Remington’s management rejected the offer.

    The proposal came from the Navajo Nation, one of the largest Native American tribes in the country with more than 350,000 members and land holdings of more than 27,000 square miles in Arizona, New Mexico and Utah.

    The Navajo Nation — which controls a $3.3 billion investment trust — sent a letter to Remington in May offering to buy the company for $475 million to $525 million, according to a draft of the letter reviewed by The New York Times. The tribe planned to pay for the purchase in cash.
    Last edited by js4fn; July 30th, 2020 at 06:25 PM.

  5. #4
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    Well up go the value of my real Marlins. To bad for Remington, should of taken the cash deal!!!

  6. #5
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    Ruger,Beretta, Kimber and Winchester will be licking their chops,now,won't they? It would be a wise move for one or more to buy up Remington after bankruptcy for pennies on the dollar,take over the patents and designs,then,collapse the company. Somebody will make a fortune out of this one if they play their cards right.
    Did you know that 4/3 of people have trouble with fractions?

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