Remington Bankruptcy Breakup: Sold to the Highest Bidder

 In 2nd Amendment

Instagram: @firearmchronicles reported the final bids for the assets once owned by Remington Arms. The Remington Bankruptcy breakup included well known firearm brands such as Bushmaster and Marlin. The Bankruptcy Court approved the break up and bids on September 29, according to the Huntsville Business Journal.

There are many reasons why Remington found itself in front of the bankruptcy court, not the least of which has to do with the Sandy Hook Lawsuit and the cost of defending themselves over the years. If the recent Pennsylvania court ruling removing legal immunity for gun manufacturers ever widens to more states, the scenario could be repeated.

@firearmchronicles on Instagram wrote:

  • Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business;
  • Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with respect to certain Firearms Business IP assets and Exhibit E with respect to certain non-Marlin Firearms Business inventory, respectively;
  • Sierra Bullets, L.L.C. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit F with respect to the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit G with respect to the Barnes Ammunitions Business;
  • Sturm, Ruger & Company, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit H with respect to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit I with respect to the Marlin Firearms Business;
  • JJE Capital Holdings, LLC as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands;
  • Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets; and
  • Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand.

It’s sad to see a gun manufacturer with such a storied history go down in flames. Remington and Sons was founded in 1816 by Eliphalet Remington. It was one of the oldest gun manufacturers in the US. The following video from 2017 is a history of the company.

Featured photo: file

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Comments
  • MARK BROWN
    Reply

    Sad very sad one of the great Manufacturers
    Has fallen ….just sad

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