Ok guys, time to pony up. A lot of people are complaining about the ammo shortage, lets do something about it. Im in, I just need some like-minded people to help me put together a competing bid. Any takers?
$65 million plus the assumption of liabilities
The liabilities part is probably big considering they are including not only the intellectual property but two factories for the low low price of $65M.
Still… if i had the money I’d do it.
I got one fiddy to invest!
I’m in, I got a buck, three eighty five. Keep the change.
I think we need to start suing automakers, and alcohol/ tobacco manufacturers for causing so much death in our country and world wide.
Count me in for a couple dollars. Do you take credit cards?
How much are you looking to have to bid on it yourself? Do you know the reasons for the bankruptcy? How much is the viability and how much is its worth? Does the company have adequate working capital? Who are the companies suppliers? What is needed to improve the revenue? How much are you looking at needing for a one year plan? and 5 year plan?
I would have to do some more research but am reasonably sure the bankruptcy is mainly from lawsuits. Funny the manufacturer of a gun can be sued due to how they market something but not other brands. Why can’t a family of a person killed by drunk driving sue the bar, the alcohol manufacturer and also the car maker? Double standards in my opinion.
As for whether or not it is a good deal…you ask a lot of the right questions but I would also add what is availability of raw materials, are the current contracts cost competitive, age and state of machinery, etc. I would also want to know if the liabilities would include the lawsuits. I have no idea if it is just the weapons side of the house or if it would include all of Remington
I consider Guns & Gadgets a reliable news source, & he is reporting that the ammo portion has several bids, and mentions one of the goups owns Palmetto State Armory:
Remington Ammo Brand Sale
I’m deeply saddened by what has happened to this once proud company. Whenever I would go the the Adirondacks I always stopped at the Ilion plant to visit the museum, & occasionally take the plant tour.