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Firearms manufacturer Remington Arms Co. is preparing to file for chapter 11 protection for the second time since 2018 and is in advanced talks for potential bankruptcy sale to the Navajo Nation, people familiar with the matter said.

The bankruptcy filing could come within days as the gun maker makes preparations for the Navajo Nation to serve as the lead bidder to purchase Remington’s assets out of chapter 11, these people said. Founded in 1816, Remington’s namesake weapons are mainstays in hunting, shooting sports, law enforcement and the military.




The Navajo Nation—a territory with roughly 175,000 people across parts of Utah, Arizona, New Mexico—could finalize a bid for Remington as soon as Friday, one of the people said. Any bid for the company would be subject to competing offers and require bankruptcy-court approval.

The timetable could be pushed back, and an offer from the Navajo Nation isn’t guaranteed to materialize, people familiar with the matter said.

Despite cutting some $775 million in debt through the 2018 bankruptcy, Remington has continued to face high interest costs and operational issues, according to people familiar with the matter, and expensive litigation surrounding the 2012 Sandy Hook Elementary School shooting.

Remington has been operating in a fraught environment for the firearms industry, especially after the February 2018 school shooting in Parkland, Fla., that spurred a movement demanding greater gun control and prompted some big investors and retailers to reconsider their ties to the gun industry.

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The industry’s fortunes also tend to rise and fall based on the country’s political climate. Under former President Obama, firearm sales rose as enthusiasts feared gun control. Demand has generally fallen since President Trump took office, though the number of gun background checks—a proxy for sales—rose in recent months as fearful Americans rushed to stock up on firearms and ammunition during the coronavirus pandemic.

But the recent surge in sales hasn’t been enough for Remington, which makes firearms at facilities in Ilion, N.Y., and Huntsville, Ala.

Related video: How gunmakers tweak rifles to get around assault weapon bans









Remington previously filed for chapter 11 in March 2018, transferring ownership from Cerberus Capital Management LP to creditors, including Franklin Resources Inc. and JPMorgan Chase & Co. Franklin remains the company’s largest shareholder, people familiar with the matter said.

The Navajo Nation and Franklin didn’t respond to requests for comment. Remington and JPMorgan declined to comment.

The company also continues to face litigation from families of victims of the Sandy Hook school shooting. Families of the Connecticut school killings filed wrongful-death claims against Remington, accusing the gun maker of producing and selling a weapon unfit for civilian use.

The Connecticut Supreme Court last year said that while the families couldn’t sue Remington for merely selling the Bushmaster XM15-E2S rifle used in the shooting, they could proceed on allegations the company improperly marketed the weapon to civilians for use in military-style combat against perceived enemies. Remington appealed the ruling to the U.S. Supreme Court, which declined to hear the case.

A bankruptcy sale would give a potential buyer the chance to purchase Remington free from legal liabilities, people familiar with the matter said.
 

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Thanks SCOTUS. 🙄
 

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I hope the sale to the Navajo Nation goes through. The poor leftists will be faced with another moral dilemma.
1) Do they drop their persecution of the company because it is owned by indigenous minority people?
2) Do the continue to persecute the company because it makes and sells those evil guns?
I predict some liberal leftist heads will explode...
 

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Interesting ... I especially like BC38's comments

but

I wonder what they would do with it. Would they try and open a factory on one of the reservations? I would kind of like to see that and see how it turns out and how it impacts the local population. Would they just try and manage it better and put it into the tribes portfolio?

Good name recognition and if they can get it free of former debt ??

Just another one of those .. Im curious as I watch the naked apes things
 

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Is the Navajo Nation considered a government? Will Remington be a government-owned gun factory?
 

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Is the Navajo Nation considered a government? Will Remington be a government-owned gun factory?
All territorial Tribes are considered under federal law to be semi-sovereign nations. So, if they moved production onto tribal lands they could do as they wished and no state and few federal restrictions would apply. I could see a fascinating series of changes coming up. Imagine If you will the again newly formed Smith and Wesson being bought and operated by the Cheyenne or Comanche. Maybe better if the Comanches took over Winchester . . . Stay tuned. This could get interesting.
 

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They could make interesting guns that we can’t buy.
 

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I seem to remember hearing the same thing about Colt not long ago.
Colt did go to into bankruptcy in 2015. The BK Judge gave control to a Hedge Fund in NYC. Cannae Holdings Inc. still owns it. They are making profits now with the release of the old Python and other guns.

I think Remington (the brand name) will go to another owner which may be a Hedge Fund (or another bidder). This will discharge all claims from lawyers that say the manufacturer is responsible for Sandy Hooks.

I have a few dogs in this fight. :) I own a few Colt 1911's and an old Detective Special revolver (no problems with parts).

My little Remington 870 12 gauge shotgun works very well. It's a good home defense weapon.
476125


476126


It's a great anti-home invasion gun.
 

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So we invade their country, steal it from them, change their way of life, wait a few hundred years for them to get over it and then sell them a firearms manufacturing company. What could possibly go wrong?
 

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The Navajo Nation is getting even with their three casino's in New Mexico. They have made $2B so far. That's why their offer was looked at.

They may still buy Remington after bankruptcy Court. The Court will dissolve any past tort damages (Sandy Hook) or set up a fund. Remington and Bushmaster were sued. The Sandy Hook killer was 20 years old and was obviously mentally ill. He killed his Mom first.

The Court is trying to write laws by exempting this case from the Protection of Lawful Protection of Lawful Commerce Act. The PLCAA is a United States law that protects firearm manufacturers and dealers from being held liable when crimes have been committed with their products. The Remington AR was sold legally to the Mom.
 

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BTW, Remington is running a sale on some parts, gun cleaning stuff, and other stuff (I bought some old Remington [email protected] $0.75).

I bought a bunch of stuff and I just got a tracking number.
 

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I received everything yesterday. All arrived as advertised.
4 X 100 pack of large patches
2 X pre-lubed patch and bore patches
2 X pre-lubed patch and lube patches
10 large Remington w/ deer decals (stick on)
5 raised decal cartridge (stick on)

Why? I couldn't pass up a deal, the total was $35.
477549


477550
 
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