Remington likely to file bankruptcy by 3/18/18, per WSJ.
Posted: Thu Mar 15, 2018 6:58 pm
https://www.wsj.com/articles/massive-de ... ge=1&pos=1
The above link only has the stub of an article since I don't have a paid subscription to the Wall St. Journal.
The WSJ edition of 4/14/18 ran a piece on Remington's imminent declaration of bankruptcy.
Cerberus Capital Management bought Bushmaster (AR-15 folks) in 2006.
In 2007, Cerberus bought Remington for $118 million, plus assumed $252 million of debt.
The crushing debt is the main reason Remington will declare bankruptcy.
Remington has recently spent $100 million to upgrade facilities.
It's unknown whether Remington will go out of business, reorganize, or be sold to someone.
SIA
The above link only has the stub of an article since I don't have a paid subscription to the Wall St. Journal.
The WSJ edition of 4/14/18 ran a piece on Remington's imminent declaration of bankruptcy.
Cerberus Capital Management bought Bushmaster (AR-15 folks) in 2006.
In 2007, Cerberus bought Remington for $118 million, plus assumed $252 million of debt.
The crushing debt is the main reason Remington will declare bankruptcy.
Remington has recently spent $100 million to upgrade facilities.
It's unknown whether Remington will go out of business, reorganize, or be sold to someone.
SIA