Quote:
Originally Posted by EZM
Remington Outdoors is owned and controlled by Cereberus Capital, a private equity and capital investment firm.
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In 2015 Ceberus announced they were going to spin Freedom Group which own Remington, Marlin, DPMS, AAC and Bushmaster out of the main fund due to investor pressure. It's difficult to track down exactly what the status of that process is but that seems consistent with this from the article:
S&P expects “a heightened risk of a restructuring” of Remington’s $575 million senior secured loan and asset-based lending facility, which it is supposed to pay back in 2019.
If they have a bunch of secured debt in place to finance that move they may not be able to use assets from their other funds to service it. It's getting a lot tougher for companies that aren't looking at declining sales and a credit downgrade to raise money via bonds right now. There may be only so much that Fienberg can do to keep the wolves at bay here.