Erinwltr
Gold Member
- Feb 8, 2018
- 9,140
- 2,035
This is very sad news. Is Remington the first domino to fall? Gun Owners better be paying attention. Their rights and Constitution are under attack. The Communists/Democrats just scored a huge victory with this. And they aren't going away. They will continue to vigorously pursue their ultimate goal of banning and confiscating firearms.
Firearms manufacturer Remington Outdoor Company has filed for bankruptcy protection in the face of falling sales and lawsuits stemming from the 2012 Sandy Hook Elementary School shooting, the Wall Street Journal reported Sunday night.
According to the Journal, Remington announced that it would file for Chapter 11 last month but the actual filing was delayed after the Feb. 14 shooting at Marjory Stoneman Douglas High School in Parkland, Fla. that killed 17 people.
The paper reported that Remington officials plan to hand over the reins to its creditors in exchange for writing off most of the company's debt. Cerberus Capital Management LP bought Remington for $118 million in 2007, assuming $252 million in debt in the process.
Cerberus later formed a holding company called the Freedom Group Inc., consisting of Remington and other firearms manufacturers -- including Bushmaster, which Cerberus had purchased in 2006...
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Gun maker Remington files for bankruptcy
DRUDGE REPORT 2018®
Cerberus Capital is at fault for the bankruptcy, loading Remington up with debt. Democrats had nothing to do with this. Nor are democrats going to take you guns.