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Author Topic: Remington Files For Bankruptcy Amid Nationwide Unrest, Surge In Gun Purchases  (Read 135 times)

Online Solar

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Remington Arms Co. filed for bankruptcy amid nationwide unrest and surging gun sales.

The firearm company filed for chapter 11 protection, or reorganization bankruptcy, for the second time since 2018, The Wall Street Journal reported Monday. Remington has been in business for over 200 years, according to its webpage.

JPMorgan Chase and Co., Franklin Resources Inc. and other investors acquired Remington following the arms manufacturer’s first bankruptcy declaration, according to WSJ.

Remington engaged in talks to sell its company to the Navajo Nation, however negotiations failed, according to the WSJ. The company is looking for potential buyers and may sell its ammunition and gun businesses as separate entities.

Remington paid over $775 million in debt in 2018 but has continued to struggle, WSJ reported.

The company faced litigation after the 2012 Sandy Hook Elementary School shooting, in which the shooter used a Remington-manufactured Bushmaster AR-15, according to WSJ. Victims’ families filed the lawsuit stating Remington “knowingly marketed and promoted the Bushmaster XM15-E2S rifle for use in assaults against human beings,” NPR reported.

https://dailycaller.com/2020/07/28/remington-bankruptcy-sandy-hook/
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Online Sick Of Silence

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I can't see how. People are going crazy buying guns and ammo.

If people are allowed to sue because a criminal use a certain brand of gun, they skateboard companies need to be sued for all those attacks and property damaged caused by skaters.
Social Media are multi-national billion dollar corporations with foreign investors that are going unchecked with the power to effect our election process.

"Book burnings" have evolved into "de-plat forming". Its the same principles behind both: to eliminate accessible knowledge.

Online Solar

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I can't see how. People are going crazy buying guns and ammo.

If people are allowed to sue because a criminal use a certain brand of gun, they skateboard companies need to be sued for all those attacks and property damaged caused by skaters.
BINGO!!!
If I slip in the shower, can I sue the soap makers?
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