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Firearm manufacturer declares bankruptcy

From+KTLA%0AWoman+leading+protests+for+stricter+Gun+Control
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Firearm manufacturer declares bankruptcy

From KTLA
Woman leading protests for stricter Gun Control

From KTLA Woman leading protests for stricter Gun Control

From KTLA Woman leading protests for stricter Gun Control

From KTLA Woman leading protests for stricter Gun Control

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Remington, a firearm maker that has been around for hundreds of years and is one of the oldest manufacturers in the United States, has filed for bankruptcy amid declining sales.

Remington has said they are filing for bankruptcy because of lawsuits coming from the Sandy Hook shooting along with falling sales.

Remington is handing over control to its creditors in exchange for a write off for most of Remington’s debts.

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Remington was bought out by Cerberus Capital Management, later forming Freedom Group, in 2007. Freedom Group owns multiple firearm makers including Remington and Buschmaster.

2016 was a bad year for Remington. They ramped up gun production in reaction to Hillary Clinton’s expected victory and expected increase of gun control. 2016 was also when they were hit with a wrongful death lawsuit brought on by the families of the Sandy Hook victims. Senior and Remington shotgun owner Jack Harrison believed Remington’s statements saying, “I doubt it’s the quality. It was probably bad money management and that people are probably just buying less guns in general.”

The bankruptcy may help Remington for a short period of time. People who really love Remington firearms might go on a short buying spree to get their latest models before they are taken off the shelves. Senior and Remington shotgun owner Eli Guck said, “My Remington is a quality firearm that works like a charm. I do not think the quality of the product is the reason for them going out of business… In the near future, I’m going to get another Remington since their new products won’t be around for long.”

Other people might be ditching Remington altogether because they are going bankrupt. Harrison said, “Well I won’t be purchasing any Remington guns for sure.”

Bankruptcy is already bad for Remington. Now people may pile on even more by purchasing firearms from other companies instead of just buying whatever Remington has left.

From KTLA Women leading protests for stricter gun control

Remington bankruptcy announcement also comes at a tough time for gun makers. The March for Our Lives, a march to increase gun control, just took place in D.C. People are also protesting at gun manufacturer headquarters.

Some people are raising the question of what Remington closing their doors means for the talk around gun control. “Maybe if the bankruptcy is caused by falling sales, it could mean is shifting in favor of gun control,” said Harrison.

Guck agreed with Harrison that this will help the people fighting for more gun control by saying, “People will talk about how it is hard for a gun company to stay alive in the changing world… Ruger and Mossberg will benefit from it.”

Remington shutting its doors is hard hit for all firearm enthusiasts who love the Remington brand. They have been on of the most reliable gun brands over the past two centuries, and they have made a lot of quality firearms in that time. Bankruptcy may not be the absolute end to Remington, but the future of one of America’s oldest gun manufacturers has definitely been brighter.

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About the Writer
John Keehan '18, Co-Editor

Co-Editor of The Purple Quill. I once met sometimes starting quarterback Daniel Nieman. "I was gonna kick your a**."- Daniel "Hardball" Nieman.

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Firearm manufacturer declares bankruptcy