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Remington filing for bankruptcy?

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February 13, 2018, 12:14 PM
JALLEN
Remington filing for bankruptcy?
quote:
Originally posted by drtenb330:
The BK restructuring removes Cerberus. Wow.

Their upper management(Cerberus) would not let go of the company (Remington) b/c they were gun fans. But at the same time, they were Wall Street white socks. To their credit,...they suck.

Never let in someone who's bottom line is more important than their product. At least the BK judge listened to the Remington upper staff. They were probably miserable since Cerberus bought in. Hopefully, this means Remington emerges as a real gun company - as they should be.


The purpose of bankruptcy is to provide equal treatment of creditors. As debt very often exceeds the assets, the owners have no stake in the company after the assets are sold and distributed to creditors. A Chapter 11 is a reorganization, as opposed to a liquidation. The creditors, or some of them, will become owners after this proces is complete. Maybe some creditors have sold their debt to others who want to end up owners.



Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
February 13, 2018, 12:44 PM
XLT
what about the nylon 66 those were nice and go for $$ now
February 13, 2018, 01:17 PM
dusty3030
quote:
Originally posted by XLT:
what about the nylon 66 those were nice and go for $$ now


Say what? They discontinued that trash for the superior Viper 522 and now the iconic flagship of their line (drum roll) none other than the 10/22 killer itself, the .22 rifle of our generation - the 597.