Through the past few weeks many things have happened including gun violence. It seems very fitting during times like these that one of the oldest gun makers files for bankruptcy. They have been facing loads of debt and law suits over the past couple years and it all seems to have caught up to them. With everything that is going on in todays world it will be interesting to see what Remington does after this. Many people are not behind them because of them being gun producers so it will be hard for them to bounce back to where they were once at in the world economy.
https://www.marketwatch.com/story/debt-laden-gun-maker-remington-files-for-chapter-11-bankruptcy-2018-03-25
3 comments:
I can't say I am surmised by this especially with the increasing number of school shootings and large amount of protesting that has been going on. I think that this should give gunmakers a wake up call to innovate a little more with their products. I also hope that this gives the public a picture of just how bad the situation is in our country regarding this topic. I also hope that the government makes some more laws so that it is more difficult for people to get guns for those that are unfit to own something that they shouldn't.
It's weird to see that one of the oldest gun makers has filed for bankruptcy, considering how gun sales have always increased after mass shootings in the past. It makes me wonder what has changed, was it the Parkland shooting? Is America finally having a change in culture and attitude towards guns?
I don't find this surprising as gun sales tend to fall under administrations that are pro-gun - gun sales shot up after Obama's election as people believed he would try to "take their guns away", but there's no such worry with the Trump administration, so it makes sense gun sales fell enough to cause a bankruptcy.
Post a Comment