# Remington Arms Declares Bankruptcy Despite Surging Gun Demand



## BackyardCowboy (Aug 27, 2014)

https://www.yahoo.com/news/firearms-maker-remington-files-bankruptcy-043215688.html

https://www.wsj.com/articles/reming...ruptcy-despite-surging-gun-demand-11595903187


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## yellowtr (Oct 28, 2016)

Remington is just down the road in Ilion NY. Brother in law retired from there years ago. Been a staple in the area for decades. Seems they have been in this funk since Dupont acquired them maybe 40 years ago. From then on, one company or another has acquired them. Heard that the Navajo nation will buy them out. Not sure what will happen to the local factory. If this factory closes, the hit will be hard for the area as upstate NY is hurting for good jobs. Current administration is very factory business unfriendly.


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## denner (Jun 3, 2011)

When Freedom Group and their hedge funds took over they sucked Remington and DPMS dry of all capital for the sole benefit of their investors resulting in the destruction of these once proud companies. At least that's what I want to think.


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## Slowalkintexan (Feb 6, 2007)

can’t type your name, but the guy who just posted,,,you are probably right,,,there are plenty of posts about it all over the ‘net.


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## RK3369 (Aug 12, 2013)

yellowtr said:


> Remington is just down the road in Ilion NY. Brother in law retired from there years ago. Been a staple in the area for decades. Seems they have been in this funk since Dupont acquired them maybe 40 years ago. From then on, one company or another has acquired them. Heard that the Navajo nation will buy them out. Not sure what will happen to the local factory. If this factory closes, the hit will be hard for the area as upstate NY is hurting for good jobs. Current administration is very factory business unfriendly.


Very factory business unfriendly and VERY ANTI GUN. That pretty much sums it up. The Governor nor the legislature will do nothing to save Remington because they do not want those gun jobs in New York, plain and simple. 
Remington should come to Georgia. About 30 miles from me there is a brand new Daniel Defense factory. We love guns and gun jobs. We'd be glad to have them come here and I'm sure the Governor and legislature would put together a great package for them to relocate. And guess what....not much union strength down here either.


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## RK3369 (Aug 12, 2013)

The other issue here is that the Bankruptcy filing may be preemptive. The SCOTUS declined to hear a case out of Connecticut last year as to whether families of Sandy Hook shooting victims could sue gunmakers. Therefore, that lack of decision cleared the way for those people to sue Remington for wrongful deaths. The bankruptcy filing may well be an attempt to shield Remington from liability above and beyond what they may be estimating as a result of potentially losing those lawsuits. They may estimate judgments totaling $X millions when in fact they’re trying to limit their liability so that they don’t get hit with awards totaling $3X million. 
Just a guess.. but I’d still be glad to see them move to Georgia and out of NY.

In addition, pre bankruptcy claims (and these would have originated pre bankruptcy) will be decided by the bankruptcy court and likely will be limited to pennies on the dollar of the awards. I believe this will be the new model for dealing with corporate liability as a result of our litigious society. Old line companies will drop the way of the dinosaurs, to be replaced by the most recent corporate restructuring arising out of the embers of Corporate bankruptcy.


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## denner (Jun 3, 2011)

RK3369 said:


> Very factory business unfriendly and VERY ANTI GUN. That pretty much sums it up. The Governor nor the legislature will do nothing to save Remington because they do not want those gun jobs in New York, plain and simple.
> Remington should come to Georgia. About 30 miles from me there is a brand new Daniel Defense factory. We love guns and gun jobs. We'd be glad to have them come here and I'm sure the Governor and legislature would put together a great package for them to relocate. And guess what....not much union strength down here either.


I believe Remington has already moved to Huntsville, Alabama a while ago?


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## RK3369 (Aug 12, 2013)

denner said:


> I believe Remington has already moved to Huntsville, Alabama a while ago?


Yes, they moved their AR production to Alabama a couple years ago. Not sure what is left in Ilion, NY but it doesn't sound like much is still there. Corp HQ is now in NC.


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## yellowtr (Oct 28, 2016)

The factory in Ilion is still producing quality firearms. Shotguns, 700's and other rifles. Not sure if they produce the pistols. There have been a few layoffs in early 2020 but none lately. Lots of history there. Would hate to see it close dowwn.


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## RK3369 (Aug 12, 2013)

yellowtr said:


> The factory in Ilion is still producing quality firearms. Shotguns, 700's and other rifles. Not sure if they produce the pistols. There have been a few layoffs in early 2020 but none lately. Lots of history there. Would hate to see it close dowwn.


Yes, I agree but there is probably a lot of pressure cost wise to close and not a lot if any support from NY to stay open there. You're Governor just doesn't like guns and he's stated that if you don't think like him you're not welcome in NY. I lived there my entire life until I was 57. Sad to see what it has become. High taxes, high welfare, no jobs, no gun rights and now no jail time for anything below manslaughter. Little wonder business has and continues to leave.


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## yellowtr (Oct 28, 2016)

The politicians didn't help Carrier back when clinton was a senator. They wanted some help from the state to upgrade their factory in Syracuse and some tax incentives. Well NY as well as clinton didn't lift a finger. Carrier left and Syracuse has gone down hill ever since. Remington is much smaller in Ilion but you are correct, NYS will not lift a finger to help that factory. 
As far as no bail laws, a few days ago a guy was arrested for car theft (Maserati) and reckless driving. Released with no bail, the next day he stole another car and was arrested and released again. The police are pissed and soon there will be no arrests unless you murder the mayor! Insanity rules in NYS.


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## RK3369 (Aug 12, 2013)

Yup, NY has gotten to the point of the cops saying, “ why bother”? And the politicians keep trying to take away legal guns? On top of which you are under a duty to retreat if someone breaks down your door? Talk about a place where no normal person would want to live? Pretty soon most of the population, except the welfare recipients and the criminals will say “why bother”?

Sad. Back when we lived there , in the 70’s and 80’s Syracuse was booming. Carrier, New Process Gear, Fisher Body of GM had a huge plant there, Solvay Process, Crucible, Crouse Hinds, Rollway Bearing, Oberdorfer, Syracuse China, and many smaller manufacturing companies. Sad situation, most or all of it gone now.

I have to laugh when I occasionally see the TV commercials promoting how “friendly” New York will be to new business that comes there. Sure, come in and build, we’ll give you a 10 year tax holiday but watch out when that’s over.


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## mdi (Jan 11, 2020)

Another "I read it somewhere..." post. I read that Remington was recently purchased by a George Soros group and with his rabid anti-gun leaning is intent on closing Remington for good.


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## berettatoter (Sep 1, 2011)

denner said:


> When Freedom Group and their hedge funds took over they sucked Remington and DPMS dry of all capital for the sole benefit of their investors resulting in the destruction of these once proud companies. At least that's what I want to think.


Yeah, I think your more right than wrong on this one.


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