remington arms

News from Remington Arms in Ilion hasn't been positive as of late with the Chapter 11 announcement being made which has employees and residents from the region on edge; however, you might be surprised to find that they're hiring. In fact, in 2018 Herkimer County's largest employer has hired back nearly 60 employees, according to workers who asked not to be identified. Additionally, Remington is seeking employees currently to fill some key positions.

A memo sent out to employees of Remington Arms last week is attempting to alleviate worries over media reports that claim the gunmaker is seeking financing that would allow it to continue operating and file for bankruptcy.

The company that owns Remington Arms, one of America's largest gun manufacturers, has reached out to investment bank Lazard for options to restructure its $9 billion debt load, according to a report by Reuters. Remington's "capital structure is currently unsustainable," insiders told Reuters on Friday.

The signs are all there and now financial experts are questioning whether the Freedom Group which owns Remington Arms, is preparing to file for bankruptcy.

The Connecticut Supreme Court is set to hear arguments on whether gun maker Remington Arms should be held liable for the 2012 Newtown school massacre.

Employees at Remington Arms in Ilion received news on Friday that another 10 days are being removed from next year's work schedule due to projected sales in 2018.

Employees at Remington Arms have been given the dates that they'll be furloughed, 1and they include 11 days without pay between now and the end of the year.

Employees at Remington Arms in Ilion were told on Wednesday to prepare for a temporary work furlough, according to workers. The news came during a company-wide meeting held at the plant earlier in the day.

Remington Arms has laid off 55 workers at its Ilion plant.

Keeler Show Notes for Friday, September 8th, 2017