On February 12th, 2018 the Remington Outdoor Company announced it has filed for bankruptcy protection and will be going through restructuring. Despite strong gun sales in 2016 sparked in large part to the lingering threat of gun control regulations being tightened, Remington saw declining sales in 2017, a non-election year, and this cycle was more than this debt-heavy organization could handle. Remington had taken on debt as it acquired other brands such as Bushmaster, H&R, Marlin, and others. While consumers complained of declining quality products being produced from the acquired brands, the rush to buy guns had subsided, and Remington was left with a supply of finished firearms that far exceeded the demand. This leaves Remington filing for protection, while it contemplates a proposed deal that will involve transferring the company and its assets to a long line of creditors.
Remington fans are encouraged to stay tuned as the Remington situation unfolds. More information including the detailed February 12, 2018 filing can be found here.