They would've put the last nail in the coffin.
Via the Truth About Guns:
According to the New York Times, the Navajo Nation has made an offer to purchase the Remington Outdoor Company, which recently emerged from bankruptcy. The offer was for approximately half a billion dollars in cash.
The offer was rejected by the owners of Remington, Franklin Templeton and JPMorgan Chase. We can’t be sure of the reasons for the rejection, but the Navajo nation’s plans for what they wanted to do with the company certainly couldn’t have helped.
In short, they sought a strategy that has already proven near-fatal to other firearms manufacturers.
According to Andrew Ross Sorkin, the NYT’s article author, the Navajo nation’s proven to fail plan:
It intended to shift the company away from its consumer business, including curtailing the sale of the AR-15-style weapons frequently used in mass shootings, to focus on police and defense contracts.The tribe planned to use profits from those businesses to invest in research and development of advanced “smart guns” — those with fingerprint or other technology intended to prevent anyone but the gun’s owner from using the weapon.
The Navajo Nation had apparently read Sorkin’s own brilliant idea for turning Remington into “The Most Advanced And Responsible Gun Manufacturer in the Country.”
The only problem with that plan is that there would have been no profits to invest in “smart guns” or anything else. Shifting away from producing products aimed at the massive purchasing power of the American consumer and toward government contracts is a proven strategy for failure.
Don’t believe me? Ask Colt, which went bankrupt specifically because they shifted away from focusing on the American consumer to primarily military and police contracts. That recent failure highlights that a single, fickle, expensive customer is never the right answer. It’s too hard to get in the door, and way too easy for that door to slam shut.
Read more here.