remington arms

Details of this week's upcoming Remington Arms bankruptcy hearing are out and as expected, it has people in Ilion nervous. America's oldest gunmaker and Herkimer County's largest employer faces a bankruptcy hearing starting on Monday in hopes of attracting bidders in an auction that seems like it will result in the selling-off of Remington assets, piece by piece.

Several employees at Remington Arms in Ilion were furloughed on Thursday, until further notice. One employee told WIBX that "about half the plant was furloughed, including second shift employees who were told not to come in. Furloughed employees will be paid until Monday. The move is in anticipation of next week's bankruptcy hearing. A letter was sent out to employees Thursday.

These are uncertain times for employees of the Remington Arms company in Ilion. On Monday, the company filed for Chapter 11 federal bankruptcy protection, only 2 years after filing bankruptcy in March of 2018 over nearly $1(b) billion in debt.

In a memo to employees on Tuesday, the CEO of Remington Arms explained yesterday's bankruptcy filing and said the company will most likely go up for auction in September.

The rumors about Remington Arms filing for bankruptcy again are true. On Monday, America's oldest gunmaker filed a Chapter 11 petition in U.S. Bankruptcy Court in Alabama for the second time since 2018.

A Remington Arms employee has contracted the coronavirus.

Approximately 500 employees of Remington Arms are furloughed until early August. The Ilion Free Public Library is has stepped up to help.

When approximately 500 Remington Arms employees were furloughed this week, one pizzeria has stepped up to make a tough time just a little easier.

Employees of Remington Arms in Ilion learned today that many of them will be furloughed through most of the summer, beginning on Monday, according to a source. The announcement, which came during a company-wide meeting on Tuesday afternoon, also warned employees that another furlough could come in November, if the market doesn't pick up.

Citing an industry-wide reduction in demand for new guns, the Remington Outdoor Company informed employees on Monday that a corporate-wide reduction in employees, mostly on the manufacturing side, will be coming in the next 30-days.