Over the past few weeks, we posted about Remington’s financial problems and their desire to find the necessary funding to allow the to file for bankruptcy. It’s official – Remington just filed for Chapter 11 bankruptcy and naturally, many are blaming President Donald Trump’s pro-gun stance as part of the problem for the company, but that’s not necessarily the whole reason.
Yes, gun sales have fallen more than expected since Trump was elected and yes, even after being cleared of any responsibility in the Sandy Hook school shooting, Remington has other internal problems that most likely played a key part in their need to file bankruptcy. Insiders say that the real reason Remington is in financial trouble is due to mismanagement and the poor quality of their firearms.
(AZ Central) – Remington, one of America’s oldest and most storied firearms manufacturers, is filing for Chapter 11 bankruptcy protection.
And not surprisingly, lots of stories are blaming Sandy Hook or Donald Trump for it.
It’s true. Some investors fled after Remington was sued – and subsequently cleared of wrongdoing – because one of the rifles it manufactures was used in the despicable Newtown, Conn., school shooting.
And, yes, despite some initial indications that demand for firearms would remain strong, it has plummeted since Trump took office. It’s such a strange phenomena: People hoard guns when Democrats are in office…
To be honest, I’ve never been impressed with the quality of Remington rifles and shotguns. Years ago when I gunsmithed, I repaired far more Remington hunting rifles and shotguns than other comparable brands at the time, such as Winchester. Dove and quail hunting was big in Arizona at the time and even though Remington shotguns cost more than Winchester shotguns, I repaired very few Winchester shotguns, but did repair many Remington shotguns. If they have not improved their quality in the past 45+ years, then no wonder they are having problems.