it takes pretty poor management to have to go BK twice in 2 years. they are blaming the pandemic for hurting manufacturing but i think its just piss poor managment.
if you have to go BK twice in 2 years the second time chap 11 shouldnt be an option. the company should be liquidated
I do believe this particular bankruptcy should be converted to liquidation.
On the subject of bankruptcies in general, I do find the tendency of bankruptcy judges to focus on saving companies to be erroneous and annoying.
Sears is the prime example of this. Sears should have been liquidated almost from the moment they entered bankruptcy. Had it been liquidated, its various creditors including suppliers might have gotten at least some of their money back. Instead it was kept alive on life support, where it has slowly died store by store, with only one person benefiting from this slow death, Eddie Lampert. I think there are about 96 Sears and Kmart stores combined that are still operating and those are continuing to fold.
Bankruptcy is an equity proceeding and the interests of creditors should be weighed equally against the interests of the company and its employees.
Unless a company has a reasonable chance of success when a bankruptcy is discharged, it should instead be liquidated. If there is any doubt, liquidation should be the default choice.
I also think if you are the top exec of a company that has to file for BK you should be barred from running another public company unless the company can make a good case why they nedd you. similar to an NCAA show cause order for coaches.
also if a company files for BK they should be banned from issuing new equity for 5 years.
I would disagree with your first assertion. In Remington’s case, the top executives screwed up big time. In Sears case, Eddie Lampert has basically been bleeding the corpse of Sears dry. But then you have the cases of JCPenneys and the numerous other retailers that have gone bankrupt this year. While the executives might not have taken the best course in every case, most of these bankruptcies could not have been prevented, even by the best executives. The retail sector was already in trouble and then COVID-19 brought down the guillotine. The top executives cannot be blamed for their failure to accomplish the impossible.
Browning makes a nice Pump shotgun, what’s nice is the ejection port is on the bottom so people like me can shoot either left or right handed. Not to mention my wife really likes it.
Use it more. Or take it apart and hone the parts. Fit and finish in recent years is allegedly a significant part of Remington’s problems. Making sure that the moving parts move as designed can’t hurt.
My experience with Remington is good. I have two 870s … a 12 ga and a 20. I don’t use them much and maybe they were built before QC began to slip, but I have never had those issues. I also have a 5 yr old R1 .45 1911. Fit and finish on it is better than on my Springfield A1 Mil Spec (which took both honing of parts and 1000+ rounds to make it reliable.) I think the real problem with Remington is management and rumors among gun owners. It’s hard to overcome those sort of problems when there is so many options for gun buyers.