Stephen Feinberg bought it in 2007 in a typical heavily leverage purchase. Think hedge fund take over. In the end he left them with a billion dollars in debt to repay. Worse Trump's election has reduced the frantic pace of gun sales, because gun owners feel no immediate threat of the end of gun sales for now, like they did with Obama, or would have with Hillary if she had won. Shudder....shudder. Kind of ironic.
Colt went into chapter 11 a couple years ago, Remington now and who knows who will be next? I think Ruger is on the firmest footing of them all. Remington has been through multiple rebirths since DuPont sold them off in 1993. In turn they were sold again to Cerberus Capital Managment in 2006 or 2007. It wont die, it will be different and doing the same thing for the most part which is a shame.
Every look at the Remington gun line? How can they have missed on so many new guns? Their O/U line has been junk for 30-40 years and four or five attempts. Remember the 396, the Peerless, the 332, the SPR 310, the Premier, the Ideal 300? All bust. Their "next" generation, carbon fiber, semi auto was a complete bust. The CTI was followed by the CTII The 11/87 is just a 1100 with slightly modern upgrades. The 11/87 Super magnum would shoot itself to pieces. Saw one rebuilt by the factory twice and it still could not stand up to those 3 1/2" shells. The current semi autos seem functional but no one I know seems to favor them.
They let Beretta take over the semi auto and O/U market completely in less than a decade and never recovered. The fact they are going under again does not surprise me. Why do they think they will turn this around? Clothes have been a major part of keeping them afloat I suspect. It certainly has not been their research, development and marketing for sure.
