Welcome back to the 48th installment of my blog, in which I don’t claim to be an expert, in fact, the opposite. I’m a new user to the AR platform and want to share my findings and experiences as I go through and build rifles as well as being the Operations Manager at Tyrant Designs.
For over 200 years the name Remington has been one of the most recognizable names in firearms. So much so that my adopted pitbull mix is named Remi. They even supplied arms to soldiers during the civil war! However it appears like Remington has fallen on hard times as they have now filed for chapter 11 bankruptcy.
It’s no surprise that some firearm manufacturers are in hot water after the changing of the presidency to a pro-gun Republican. Many came to identify the era under Obama as the “Golden Era” for firearm sales. Many joking that Obama was the best thing that ever happened to the firearm industry.
Let’s be honest here, gun sales are largely politicized. Under a nonfriendly second amendment government the idea that there will be a scarcity of supply will affect demand. When there is no fear of anti-gun legislation the demand is much less. Manufactures who didn’t forecast correctly most likely will have to sit on a large supply of inventory with significantly lower demands.
Many companies that carried too much stock didn’t leverage the possibility of a pro 2A president are now in financial trouble. Under chapter 11 bankruptcy law Remington has $950 million dollars and will be able to offset over $700 million of it. They will also have to restructure the company.
The US has the highest gun ownership rates in the world. It is estimated that 7.7 million gun owners possess between 8 and 140 guns each. While around 3% of the US owns an average of 17 guns each. I usually don’t let the news or political climate dictate my decision on what firearms and ammunition I buy. I like to make sure to always be stocked and ready no matter what’s going on in our country. Better safe than sorry.
Who here owns a Remington and which one?