Reaction to Remington Arms Declaring for Bankruptcy

Locals react to the decision by Remington Arms to file for Chapter 11 bankruptcy protection.

Posted: Mar 26, 2018 6:56 PM
Updated: Mar 26, 2018 8:05 PM

For Valley residents, the announcement Remington Arms had filed for bankruptcy wasn't all too much of a surprise. But many say it's not the gun debate that's causing the rollback of Remington, it's the cost of business in New York State that driving them out.

Jim Hentges of Ohio says, "I think it's always sad when local businesses leave us, a town, a city, they just leave so much in their wake."

The move by Remington Arms and it's parent company Remington Outdoors is what the company's CEO says a decline in gun sales over a 12 month period.

The announcement is considered the second shoe to drop for llion's Mayor.

Mayor Terry Leonard says, "Last fall when they did the furloughs, I did get a call from Remington, it was due to the inventories on the shelves and the overproduction and the slow sales".

And while some may debate why these jobs are leaving, one local tells me that it's the tax structure that's causing all these jobs to go elsewhere.

Jim Tooker a local resident says, "It costs you more to operate in New York State than anywhere else, California, included."

Jim Tooker has lived in the area his whole life, but like many says the writing has been all the wall for local manufacturing for years and the decision by Remington to declare bankruptcy is why he believes it'll only get worse from here.

As far as helping the 900 workers in Ilion, Mayor Leonard is hoping for more statewide support.

The restrictions on municipalities, unfunded mandates, even to operate this Village is nearly impossible financially and nearly is the same in the business and manufacturing world.

We did reach out to the local union that represents workers here in Ilion, but they did not get back to us.

Congresswoman Claudia Tenney did release a statement after Remington declared bankruptcy, and says the company has given assurances that this filing is primarily to restructure their debt and that there will be no loss of jobs.

Working Solutions in Herkimer County also reports workers who were apart of last years furlough are heading back to work. Estimates say that a few dozen workers are back on the job, and an undetermined amount of potential employees have filed applications for work at Remington Arms.

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