Looks Like Remington Itself Has A New Owner, and He Wants to Make Guns

gmerkt

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This is an interesting development. So it appears that Italia may be, at least in part, fronting for D'Arcy, the last CEO of the old company broken up by bankruptcy proceedings. I don't think D'Arcy can be blamed too awful much for old Remington's fate. They were going down the tubes before he took the helm. I think one squawk is that he was in a position at the end to violate contractual labor agreements right before the sale which could benefit the follow-on management of the company. Or not, only time will tell.

Likewise Italia's enthusiasm for getting operations going again. Even if sincere, he's got a mountain to climb. No matter how cheaply they may have acquired some remains of Remington assets, there will be lots more money borrowed. If they actually go through with manufacturing again.

That's how bankruptcies work. Who owes and owns what gets realigned. Creditors, bond holders and shareholders get shafted; somebody picks up the pieces and maybe does good. It happens all the time.
 

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