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Remington closing?

james357

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The Hen that laid the Golden Legos
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On my way in yesterday around 2 I heard Remington was closing going out of business. I looked it up on the internet and I saw that they were in Chapter 11. But I didn't hear or read anything about them shutting down for good.
And it might have been someone on talk radio saying how you Remington is closing. I was driving in I thought I heard Remington will be closing. Has anyone else heard this? All I can find is month old reports of them going into bankruptcy and coming out of backruptcy??
 
They also have a long track record of carrying too much debt due to bad deals and mismanagement over time. Some of that (but not all) was dealt with in their last bankruptcy. They are still carrying a debt burden though and when you are sinking a disproportionate amount of your cash flow into servicing debt it's difficult to compete with other better run companies.
 
I keep hearing how new ownership is what caused problems but Cerburus Capital Management (owners of Freedom Group) bought Remington in 2007 when they were just about to go under and in 2008 made them profitable again for the first time in decades. I am not sure that having owned them for 12 years can classify them as new owners and also not sure they are the problem. I am thinking the fact that they have been closed down for months by left wing governor is the bigger issue. Also, they are filing bankruptcy, which is a method of keeping from going out of business. I have heard nothing about closing down for good.
 
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