Remington files for bankruptcy

[AshOnSnow]

Not so much airsoft news as such, but just read this in the news. Remington’s going bust.

 

http://www.bbc.co.uk/news/world-us-canada-43540708

[proffrink]

This is what happens when your sales are driven by people stockpiling guns because 'Obongo's comin' for 'em'. There's a big slump for all retail weapons manufacturers right now allegedly, so this might not be the last one we see.

[Immortal]

Remington's going bust?! That's a shame, I like my "Fuzz Away"...

[Tackle]

Blast from the past

 

[Lozart]

They've filed for Chapter 11 bankruptcy. That way they'll stay in business while they try and pay of their creditors. Reading the story though it seems like they've been the victim of horrific mismanagement for a while!

[Duff]

2 hours ago, Lozart said:

They've filed for Chapter 11 bankruptcy. That way they'll stay in business while they try and pay of their creditors. Reading the story though it seems like they've been the victim of horrific mismanagement for a while!

 

Chapter 11 basically protects the creditors investment.

[proffrink]

It does actually mean they can go back to trading if they're able to pay them off though.

[Duff]

1 minute ago, proffrink said:

It does actually mean they can go back to trading if they're able to pay them off though.

 

Yeah it's kinda like an IOU for realzy type thing that reassures the creditors.

[Samurai]

They would probably be very happy in case of a terrorist attack somewhere there...

[proffrink]

Democrats take back their congress during the midterms and all these rallies for more gun control; it'll all be back to normal with plenty of idiots spending more money than they need to on guns.