Navajo Nation Aims to Buy Bankrupt Remington

Remington is one of the oldest gun companies in North America, founded with Eliphalet Remington’s first hand-built rifle in 1816. Over the past 200+ years, the company has manufactured millions of some of the best selling rifles and shotguns, including the Model 700 and Model 870.

For many shooters, a Remington may have been their first gun. Maybe it was a single shot .22 or a trusty old shotgun, handed down from a parent or grandparent. The company received its first government contract in 1845, an order placed by the US Army for 5,000 Model 1841 “Mississippi” rifles. Over the years, Remington has supplied rifles and handguns to military and police departments worldwide. You can read more about Remington’s history, including their dabble in the typewriter business HERE.

All has not been well financially for the historic gun maker for the past couple of years and they’re facing a big lawsuit by victims of the Sandy Hook shooting. It declared bankruptcy once in 2018 and managed to keep things afloat for the past two years. Now the Wall Street Journal is reporting the company is planning on filing Chapter 11 soon and the expected buyer is the Navajo Nation. The deal requires regulatory approval.


View Source