18.03.26 Remington Goes Bust

March 27, 2018
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Oldest U.S. Gun Maker
Files For Bankruptcy ============================================

Remington

After weathering more than 200 years in business, Remington can’t survive current climate.

Founder Eliphalet Remington built his first gun in 1816.

Why now?

Why Now?

  • Slumping sales year-over-year (dropped 30% in 2017)
  • Mounting debt ($100M – $500M)
  • Private equity firm that owns Remington has been trying to sell it for years, but never found buyer.
  • High-profile case: Remington waiting on big ruling on whether victim families of the Sandy Hook school shooting can sue because shooter used a Remington gun.

To Blame? “Trump Slump”

  • Prior to election of President Trump, gun sales spiked because those who expected Hillary Clinton to win (with a platform of stricter gun control) bought weapons in advance of election.
  • With gun control NOT a big part of President Trump’s platform, buyers are less motivated.

Fact Check: AR-15

  • “AR” does NOT stand for “automatic rifle” or “assault rifle.”
  • AR = stands for ArmaLite.
  • AR-15 = a specific model of a semi-auto rifle produced by ArmaLite. Other gun makers have their own model numbers for similar style weapons.A Though often used as a general term, an ‘AR’ is a specific gun by a specific company.A

Remington reportedly secured $300M in loans from U.S. banks to proceed through bankruptcy. Can the company be saved? Some smaller gun dealers say Remington made the wrong business decisions along the way – Read More:

by Jenna Lee,

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