Roundhill purchased the Remington firearms business, excluding the Marlin brand, for $13 million. Remington isnt going out of business, they are dodging Sandy Hook liability lawsuit. Last month, Roundhill reached an agreement with the Herkimer County IDA on a 10-year tax break deal that according to officials, will mean a 50-percent tax break in year one for the new Remington, with a 5-percent annual increase over the following 10-years.īankruptcy documents also show that Roundhill is still in a dispute with the old Remington company over assets, machinery and licensing that was part of the bankruptcy sale, where Remington's holdings were split up between six companies. Remington isnt going out of business, they are dodging Sandy Hook liability lawsuit. Workers say that decision could come as early as Monday. They say while workers won't get 100% of what they're owed, they feel a satisfactory settlement will be reached very soon. Last week, the union held a virtual town hall meeting and said they're confident that a resolution will come in March. Meanwhile, former employees of the "old Remington" are expecting a decision this week on the bankruptcy court's decision regarding their 401K investments, severance pay, and other benefits owed, after the United Mine Workers Union negotiated for at least a percentage of that money. The venerable arms manufacturer is not going out of business, and the company will continue to produce guns after it’s gone through the bankruptcy process. "This is getting very old," one worker told WIBX. They say they were told that eventually, they would be returning to a workforce of between 800 and 1,000 workers once sales and production ramped up. Employees told WIBX they were told that initially, maintenance and machinists would return first, and about 200 assembly line workers would then follow this week. In other words, they intend to stop making guns which can actually be practically used for civilian personal protection. Is Remington Guns Going Out Of Business BY Is Remington Guns Going Out Of Business in Articles Shop for Best Price Is Remington Guns Going Out Of Business. Price Low and Options of Is Remington Guns Going Out Of Business from variety stores in usa. Three years ago, Marlin employed 345 people at its headquarters in North Haven. Shop for Best Price Is Remington Guns Going Out Of Business. Inc., which is a subsidiary of Freedom Group Co. So, Remington will be supplying the government and will still make hunting rifles, but no more AR-15s. Marlin was acquired in 2008 by Remington Arms Co. Remington's new owner, the Roundhill Group had planned to restart production on March 1st. Gun-maker Remington Firearms will move its headquarters to Georgia, with plans to open a factory and research operation there. The company will also start the development and manufacture of smart guns. Driving Hunger Away Food and Fund Drive.