What gun company is going out of business?

Remington Arms Company
The Remington Arms Company, one of America’s oldest and largest gun manufacturers, filed for bankruptcy protection on Monday after years of litigation and a loss of investors took a heavy toll on its finances.

Is Remington going to make guns again?

Remington Firearms may be rising from the ashes of its bankruptcy last year. The new company will be known as RemArms and company officials claim we may begin seeing Model 700 rifles and Model 870 shotguns at sporting good retailers yet this fall. The firearms side of Remington is now officially known as RemArms.

What is causing gun shortage?

The shortage has been attributed to many factors, including pandemic-era supply chain disruptions, the bankruptcy of major supplier Remington in 2020, the massive amount of new gun owners in the last year, and the resulting surge in demand.

Did Marlin go out of business?

Marlin Firearms was previously owned by Remington Outdoor Company, which went bankrupt and was fully liquidated in September 2020. Marlin’s lever-action rifles became popular with the rising use of scopes in the last two decades of the 20th century, with their side ejection making scope mounting easier.

Why did Remington go bankrupt?

Remington previously filed for bankruptcy in 2018, citing declining sales. It emerged two months later in control of its lenders including Franklin Resources and JPMorgan Chase. But sales apparently never sufficiently rebounded despite a surge of interest in guns due to the Covid-19 pandemic and nationwide social unrest this year.

Is Remington still America’s oldest gun manufacturer?

Remington, which bills itself as America’s oldest gun manufacturer, has filed for Chapter 11 bankruptcy protection for the second time in just over two years.

What happened to Advanced Armament Corporation?

The Advanced Armament Corporation, a manufacturer of suppressors and silencers, closed its plant in Georgia, and 68 people were let go from D.P.M.S. Panther Arms in St. Cloud, Minn.; 65 from Para USA in Pineville, N.C. What remained was to increase profit margins by combining all these scattered production lines into a single megafactory.

What does Remington’s bankruptcy filing mean for the Navajo Nation?

The filing comes just days after the apparent collapse of talks between the company and the Navajo Nation, which reportedly was considering purchasing Remington’s assets in a prepackaged bankruptcy that would have allowed the company to shed its liabilities.