Gunmaker Remington says it will file for bankruptcy - Feb. 12, 2018
'The plan would allow Remington Outdoor Company to stay in business while restructuring its debt. '
'Gun sales surged to record levels in 2016, when Barack Obama was president and there were fears that Democratic candidate Hillary Clinton would implement gun controls. '
'The plan allows for Remington to reduce its debt by $700 million and contributes $145 million of new capital into its subsidiaries, according to the company. '
'Remington said in a statement that its operations "will not be disrupted by the restructuring process."'
'When Trump, a Republican endorsed by the National Rifle Association, was elected, those fears were alleviated. '
[–] 11904459? ago
This article doesn’t give any indication as to why.
But thanks for sharing
[–] Maxcactus [S] 1 point -1 points 0 points (+0|-1) ago (edited ago)
Guns last many lifespans. Could it be that the number of guns in circulation now exceeds the amount that people want to own. I am due to add another dozen guns to my collection when my ninety year old father passes away. I have several uncles who will likely pass their guns along to me as well. I don’t have room for what I own now. There are no gun enthusiasts in the generation following mine in my family. I hear from my friends that they are experiencing the same thing.
[–] BigMatteson ago
I think it's more because their quality went to shit and no one wants their rusty crap.
[–] 11909428? ago
I’m a young guy and a budding gun enthusiast. The drop in sales could be because we’re all not afraid of the federal government taking our guns away like under Obama. Also, my generation doesn’t seem to care for shotguns. Plus apparently Remington has let their quality go down.