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July 28th, 2020

Remington Arms Company Files for Bankruptcy (Again)

Remington Factory Bankruptcy chapter 11

Even with surging firearms sales in 2020, Remington Arms Company (Remington) found itself in financial trouble — with overwhelming obligations to creditors and investors. Accordingly, on July 27, 2020, Remington filed for Chapter 11 Bankruptcy — the second time in recent years.

Remington Factory Bankruptcy chapter 11

Remington, based in Madison, North Carolina, filed for Chapter 11 in March 2018. With major loan reorganizations, Remington “emerged nearly two months later, having converted more than $775 million in debt into equity for its lenders.” (Source: Syracuse.com.) However, despite this debt-restructuring, the company has struggled with high interest costs and litigation related to the 2012 Sandy Hook Elementary School shooting. The perpetrator had a Bushmaster XM15-E2S rifle sold by Remington.

This time, there are more challenges — and it’s unclear how the company’s operations will fare in the months and years ahead. According to the Wall Street Journal, the debt-burdened firearms maker will seek buyers for its assets:

Remington Arms Declares Bankruptcy Despite Surging Gun Demand
Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.

Remington … sought chapter 11 protection and will try to sell its business at a time when civil unrest and worries about personal safety have driven firearm sales to record highs.

The chapter 11 petition in the U.S. Bankruptcy Court in Decatur, Alabama, marks Remington’s second restructuring since 2018, when it filed for chapter 11 and transferred ownership to investors including Franklin Resources Inc. and JPMorgan Chase & Co.

Remington has been searching for potential buyers and was in talks to sell itself out of bankruptcy to the Navajo Nation before negotiations collapsed in recent weeks, leaving the company without a lead bidder, or stalking horse, in place.

The manufacturer’s firearms and ammunition businesses could be sold off separately, according to a person familiar with the matter.

Source: Wall Street Journal, Emphasis Added

Remington Factory Bankruptcy chapter 11

Remington Has a Storied History
Founded in 1816 by Eliphalet Remington in New York, Remington is the oldest continuously-operating gun manufacturer in the United States. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

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July 28th, 2020

Rossi RS22 on Sale $109.99 — Surprisingly Good Budget Rifle

Rossi rs22 RS 22 .22 LR training rifle Mossberg

Looking for a very affordable first rifle for a young family member? Here’s one of the best low-cost options you can find among .22 LR rimfire rigs. The Rossi RS22 is a reliable, semi-auto rifle that comes equipped with barrel-mounted iron/fiber optic sights. There are also dovetails on the receiver for mounting scope rings. The RS22 also takes most Mossberg 702 magazines.

The Rossi RS22 features an 18″ free-floating barrel, adjustable fiber optic sights and a synthetic Monte Carlo stock. For added accuracy, 3/8″ dovetail mounts allow the mounting of a scope or other optic.

Rossi RS22 Specifications:

Model: RS22 Semi-Auto, .22 LR
Barrel: 18″ Free-floating
Stock: Black Monte Carlo Synthetic Stock
Overall Length: 36.25″
Weight: 4.1 lbs.
Scope Mount: 3/8″ Dovetail
Sights: Fiber Optic Front & Rear
Safety: Manual Cross-Bolt Safety
Magazine: 10-rd Detachable Box Mag


NOTE: The Rossi RS22 on sale has a matte black stock.

Rossi rs22 RS 22 .22 LR training rifle MossbergTwo Video Reviews of Rossi RS22
The above video review of the Rossi RS22 confirms its reliability and build quality. The reviewer praised the fiber-optic iron sights and liked the magazines. After fitting a scope to the rifle’s built-in dove-tail, the tester got excellent accuracy with CCI ammo at 25 yards. Ten shots basically formed one half-inch hole. (See video 8:24 – 8:50 and target at right.) That’s good enough for an NRL22 match. Pretty impressive for a $110 rifle!

Gunblast.com also tested the Rossi RS22. This “dandy little rifle” performed great, with flawless semi-auto feeding and cycling for hundreds of rounds. Accuracy was quite good. The tester praised the fit and feel of the stock and noted it has sling swivel studs and well-protected sights. The RS22 can also use 25-round Mossberg magazines.

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