I see Remington Arms new owners have started up the Illion plant again, albeit in a limited sense (shotguns only). The media releases say they are planning to add different lines to the plant over time and hopefully they'll get back to full capacity.
You'd hope they would continue with the Model 7 with some updates, as the market for mini/micro short action rifles is strong. It would be a great shame to lose this design forever.
My money is that we'll eventually see Model 7s with super-lightweight stocks.
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