Remington seeks financing to file for bankruptcy

(Reuters) – Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday.
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-WiscoDave

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10 Responses to Remington seeks financing to file for bankruptcy

  1. rolldog says:

    Fucking private equity groups. Too much debt for this company to service. Coupled with some declining quality and you have a historic company on the rocks. I’ve worked for private equity groups and they suck.

  2. AlphaDelta says:

    Isn’t this interesting….

    “Remington, which is controlled by buyout firm Cerberus Capital Management LP, was abandoned by some of Cerberus’ private equity fund investors after one of its Bushmaster rifles was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults.

    The sources asked not to be identified because the deliberations are confidential. Remington did not respond to several requests for comment. Cerberus declined to comment.”

    If anything is ever fucked up, one is almost certain to be able to find that ground zero is California: http://www.sacbee.com/news/business/article23501845.html

    • crazyeighter says:

      I would have told CalSTRS, “Let’s see how sincere you are; I’ll give you ten cents on the dollar for your investment. Take it or leave it.”

  3. Pointy End Out says:

    Cerebus is owned by Soros the scumbag.

  4. Pointy End Out says:

    Remington also owns Marlin and a few other brands in addition to manufacturing ammo.
    Wipe out Remy and you wipe out the others as well…

    Soros’ plan is coming to fruition

    • Nemo says:

      The Rem. ammo plants will probably be sold for a reduced price to one of the other ammo manufacturers. At least I’m hoping that’s what happens. Don’t need another ammo shortage like a good portion of the last 8-10 years.

  5. NewVegasBadger says:

    Here is a novel concept; Instead of focusing on the next quarters profits and or what the company’s stock is doing, how about staying focused as the WHY you are in your business. Make a quality product that people will want to buy. If you base your business decisions on what is politically correct, then you deserve to go out of business.

  6. Djamer says:

    Gee, does it make you wonder, since Cerebus IS owned by Soros (Satan), if Sandyhook WAS funded by him after all?

  7. Djamer says:

    Cerebus made millions and millions on the Chrysler deal.

Comments are welcome, but moderated out of necessity.