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Remington files...........again

Scorpio

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#1
for the second time in 2 years, Remington files for Chap 11

after a potential deal to sell collapsed,

more to come
 

TAEZZAR

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#2
pout girl.gif
 

Scorpio

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#3
Remington Returns to Bankruptcy Blaming Falling Gun Sales

Rick Green and Steven Church 2 hrs ago

Remington Returns to Bankruptcy Blaming Falling Gun Sales






(Bloomberg) -- Remington Outdoor Co. filed for bankruptcy for the second time in two years with plans to sell the 200-year-old maker of firearms.
 

TAEZZAR

LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH
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#4
Remington Returns to Bankruptcy Blaming Falling Gun Sales
:dduck::dduck::dduck::hunt::rotf::rotf::rotf::shit happens:

JUST WHEN GUN SALES ARE THROUGH THE ROOF !!!! LOLOLOLOLOLOLOLOL

Can you think "mismanagement"? :don't    know2:
 

newmisty

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#5
Damn greedy corporate swine looted too much of the cream.
 

Bushpilot

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#6
It is nothing more than corporate theft by management raiders. Buy a strong company, leverage it to the hilt, pay huge executive rewards, go bankrupt and walk away with the cash. Fuck the poor souls working there.

Not that I’ve been a fan of their cheapened up guns as of the last 5-7 years.
 

newmisty

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#7
It is nothing more than corporate theft by management raiders. Buy a strong company, leverage it to the hilt, pay huge executive rewards, go bankrupt and walk away with the cash. Fuck the poor souls working there.

Not that I’ve been a fan of their cheapened up guns as of the last 5-7 years.
 

TAEZZAR

LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH
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#8

Aurumag

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#9
It is nothing more than corporate theft by management raiders. Buy a strong company, leverage it to the hilt, pay huge executive rewards, go bankrupt and walk away with the cash. Fuck the poor souls working there.

Not that I’ve been a fan of their cheapened up guns as of the last 5-7 years.
You forgot to add that the management raiders are very likely rabid anti-gunners, and thus the business failure is a win-win.

They could turn on a dime and be profitable if they would focus on ammo production of high demand calibers like 9mm and .223 as well as production of more popular firearms like ARs and semi-auto shotguns.
 

chieftain

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#10
Damn she's cute!

It is nothing more than corporate theft by management raiders. Buy a strong company, leverage it to the hilt, pay huge executive rewards, go bankrupt and walk away with the cash. Fuck the poor souls working there.

Not that I’ve been a fan of their cheapened up guns as of the last 5-7 years.
Many companies have been destroyed by such raiders in exactly the same manner. The following article is a pretty good play by play account of how they do it:

https://foragerfunds.com/news/dick-smith-is-the-greatest-private-equity-heist-of-all-time/

Dick Smith was an electronics retailer here in Australia.
 

Usury

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#11
It is nothing more than corporate theft by management raiders. Buy a strong company, leverage it to the hilt, pay huge executive rewards, go bankrupt and walk away with the cash. Fuck the poor souls working there.

Not that I’ve been a fan of their cheapened up guns as of the last 5-7 years.
Dont forget they’re screwing their hedge fund investors out of returns too.
 

Fatrat

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#13
And looting the pension funds, I wonder how much they got...
 

gringott

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#14
A little remington story, for your pleasure.

A army officer mentored my son for West Point, he is a competitive shooter, international, I knew him not at all but he became a family friend. Through him, at various shooting matches at the Louisville Rifle and Pistol club, I met his circle of friends. One of them was a great guy, a competitive shooter like him, that worked at a little factory in the local county seat, a Remington owned startup type company developing special weapons for our longest war. I don't know the exact details, but Remington shut down the operation. This guy and our friend as a minority stockholder created a new startup with other Remington employees in the area. They are doing great, but under the radar.

More power to them. I tried to buy in at the family friends retirement party, but no place for new investors. Too bad.
 

nickndfl

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#15
Let it die. They don't make anything of quality anymore that cannot be duplicated for less $ or better features.