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The
Below Comments Relate to this Newslink:
Is Remington Outdoor about to go bankrupt?
Submitted by:
jac
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What was once an upbeat mood in the gun industry, fostered by a multi-year rally in weapon sales, has now become a major hangover. The most obvious indicator of that change: Privately-held Remington Outdoor is now at risk of declaring bankruptcy after a collapse in sales and profits.
The rifle and shotgun manufacturer's third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year.
And with its credit rating in the trash bin, the future is bleak for "America's oldest gunmaker".
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Comment by:
MarkHamTownsend
(12/9/2017)
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Remington, now part of Cerburus , has become it's own enemy. A few years ago it produced the R51 automatic, a modern version of an old gun, but they royally scwewed the pooch on quality assurance, causing many returns and a 2.0 version. Many gun people are leery of its products....the model 700 rifle due to its trigger....less than stellar in the model 870 shotgun..... If they'd make good guns, and cater to their customers wants, they'd be in a better position to weather a downturn in purchasing. |
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By calling attention to a well-regulated militia for the security of the Nation, and the right of each citizen to keep and bear arms, our Founding Fathers recognized the essentially civilian nature of our economy. Although it is extremely unlikely that the fears of governmental tyranny, which gave rise to the second amendment, will ever be a major danger to our Nation, the amendment still remains an important declaration of our basic military-civilian relationships, in which every citizen must be ready to participate in the defense of the country. For that reason I believe the second amendment will always be important. --JOHN F. KENNEDY |
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