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02-13-2018, 08:35 AM | #1 |
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Join Date: Mar 2009
Location: Central Florida
Age: 76
Posts: 62,704
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Amid declining sales, Remington prepares for bankruptcy
Despite years of boom times selling its wares to a nation eager to buy guns after mass shootings, one of the largest weapons manufacturers is planning to file for bankruptcy.
Its decline comes as it has suffered slumping sales along with other major manufacturers such as Smith & Wesson and Ruger. Sales and stock prices surged during the Obama administration, with repeated mass shootings perversely leading to more weapons purchases after fears that the carnage would lead to regulations on Americans? ability to wield high powered weapons of war. That bubble has since popped after the election of President Trump, with little likelihood of passing gun control through a Republican-controlled Congress and White House. |
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