Remington Working on Restructuring

by
posted on February 4, 2018
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
remington.jpg

Remington Outdoor Co. is reportedly in talks with an international investment bank to restructure its debt in an effort to delay the need to file for bankruptcy protection, Reuters has reported in an exclusive development in Remington’s financial challenges.

Sources familiar with the talks said that Remington has consulted Lazard Ltd. about how it can restructure its $950 million debt.

Remington, founded in 1816, is America’s oldest continuously operating gun manufacturer. Its profitability has been hurt in recent years, partly because of lawsuits such as the Bushmaster litigation that followed the Sandy Hook school shooting. That case might well one day be ended under the Protection of Lawful Commerce in Arms Act (PLCAA), which is designed to prevent gun makers from frivolous lawsuits spurred by criminal misuse of a product, but meanwhile legal costs are piling up as the battle progresses through the judicial system.

Besides the litigation costs, Remington has experienced sales declines. That hurts the company’s credit rating, which in turn leads to higher interest on loans, continuing a vicious cycle that keeps businesses from being able to right the ship after major downturns.

Although several options for restructuring were discussed, no firm path was chosen, Reuters reported. Remington and its parent company, Cerberus Capital Management Group, did not comment in the article.

Latest

NRA Logo
NRA Logo

Important Notice To Members: Exercise Your Rights, Assist In The Nomination Of Directors

The NRA Bylaws provide for the election of one-third of the members of the Board of Directors each year. This means that the terms of office of 25 Board members will expire at the 2026 Annual Meeting of Members next year.

NRA Media’s New Executive Director

NRA Media is proud to introduce Mike Sanford as executive director of NRA Media.

The Armed Citizen® July 11, 2025

True stories of the right to keep and bear arms

5 Reasons the Second Amendment Should Not Be Political

The right to keep and bear arms is enshrined in the U.S. Constitution. It is not a tool of one political party but rather is a right for all Americans, regardless of their background, income or voting history.

Gun Skills | A Skills Test: Cinco y Tres

Most violent crimes take place in close quarters. This simple drill will help prepare you for these scenarios.



Get the best of America's 1st Freedom delivered to your inbox.