Sad. But the market is as forgiving as Mother Nature.
The head of Cerberus
This is not good...not good at all. Snowflakes are very happy to hear this.
What's weird is that they have sold a crap ton of products but were in the red for quite awhile, that just sounds like bad management.
I am with ya there. Cash Flow is king and they did not seem to manage that well...What's weird is that they have sold a crap ton of products but were in the red for quite awhile, that just sounds like bad management.
My fault I thought for some reason they were still owned by Freedom Group or whatever
I'm a diehard Remington owner. 1100s, 870s and 700s are amazing.
BUT I think they have really watered down the brand over the past 20 years.
Not just the cheaper gun variants but they sell Remington "clothing" at walmart etc...it is junk. Sad.
I am happy about the ch 11 and reorganization that will come of it.
The sky is not falling.
We have to keep in mind that Chapter 11 is just basically a pause button...lots of companies come out of 11 just fine.
Now if they were filing chapter 7...then I would be a bit more panic mode....
Hopefully they will emerge from this thing in a year or two after trimming off some bad business groups in great shape!