Remington Bankruptcy?

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Beaker
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Remington Bankruptcy?

#1 Post by Beaker » Mon Feb 12, 2018 2:53 pm


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Old No7
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Re: Remington Bankruptcy?

#2 Post by Old No7 » Mon Feb 12, 2018 4:05 pm

Yup, that came up a few months back -- and a few months back before that too, I think.

Love my Model 700 in .222 Rem, but that's all the $$ they got from me -- and of course, mine has a SAFE and crisp Timney trigger in it.

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Pete44ru
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Re: Remington Bankruptcy?

#3 Post by Pete44ru » Mon Feb 12, 2018 4:15 pm

.

Yesterday, Remington was looking for an angel, and today they found one:

The Remington Outdoor Company, one of America’s largest firearm and ammunition manufacturers, plans to file for Chapter 11 bankruptcy protection after reaching a deal Monday with its creditors, according to multiple reports.

Company officials said in a news release that a prepackaged reorganization plan will be filed with the U.S. Bankruptcy Court in Delaware.
The deal will give control of the company to its lenders.

Remington seeks to lower its $950 million debt load, Reuters reported.
The company’s executive chairman, Jim Geisler, said in a statement that "difficult industry conditions make today’s agreement prudent."

The company’s debtors include JPMorgan Asset Management and Franklin Templeton Investments, Reuters reported, who will trade their debt holdings for equity in Remington as part of the deal unveiled today (Monday).

Since a bankruptcy filing under Chapter 11 allows a company to reorganize and stay in business as the company works to repay debtors, officials with Remington said in a news release that the company will continue to operate as normal as the restructuring process gets underway.



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GunnyMack
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Re: Remington Bankruptcy?

#4 Post by GunnyMack » Mon Feb 12, 2018 6:12 pm

If the Dem she devil was elected then they would be posting profits!

Thunder50
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Re: Remington Bankruptcy?

#5 Post by Thunder50 » Mon Feb 12, 2018 7:29 pm

Or would have already closed doors months ago, along with most other gun companies
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Re: Remington Bankruptcy?

#6 Post by JerryB » Mon Feb 12, 2018 9:05 pm

I only own one Remington rifle. In 1954 My dad One Saturday morning and came home with a brand new in the box 550-1 .22 rifle. hat rile will still fire a group at 50 yards that I can cover with a 50 cent piece. I have taken a lot of game over the years with that rifle. If they still made guns like that they wouldn't be in so much trouble. I forgot about the model 14 .25 Remington I had for awhile.
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m.wun
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Re: Remington Bankruptcy?

#7 Post by m.wun » Mon Feb 12, 2018 9:11 pm

Note to Remington, sell off all other brands and keep the Remington name open. Then stick to making model 700s, 870,11-87 AND 1100 . Keep it simple and make quality. Oh ya and maybe the model 7!
What in the wild world of sports is going on here

Nath
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Re: Remington Bankruptcy?

#8 Post by Nath » Tue Feb 13, 2018 7:56 am

It's been on the cards since the nineties!
I bought a ssst 243. The rubber stock and a bore that had more tooling marks than a tooling mark tool could give soon went. My sps 308 with the xpro trigger was a joke, bolt handle touching the stock had me scratching my head a while, the bedding was lousy and the trigger took six hours to make usable. The bore was ok.
The 597 in LR was accurate but unreliable.
The 592 was brilliant.
The 870 express was rough but slicked up well.

An 80,s bdl in 222 was superb but I was young and more dumb than now (even) and let it go, boy could I shoot that off hand.
Anything after 1990 now I am not interested in from Remington.

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marlinman93
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Re: Remington Bankruptcy?

#9 Post by marlinman93 » Tue Feb 13, 2018 10:43 am

The Remington name will remain, regardless of bankruptcy or reorganization. And hopefully it will continue for hundreds of years in the future too! It would be sad to see it ever end, but also don't want to see it tarnished with junk like they produced after they bought Marlin Firearms Co. Sallying a good name like Remington or Marlin with poor products does nothing to promote sales.
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stretch
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Re: Remington Bankruptcy?

#10 Post by stretch » Tue Feb 13, 2018 7:34 pm

Let's see:

They fired or "laid off" their most experienced craftsmen, and moved the shop away from those craftsmen who knew how to make the product.
They replaced those experienced guys with the cheapest labor they could find and deliberately let quality slide; sll of the above so that some
already wealthy, non-working investors could make a little more.

And with all of the above done, they couldn't take advantage of a BOOMING firearms
market because their quality was so poor. Typical American business school management -
do whatever ya can to suck as much money out as is possible -then on to the next fleecing.
Short-term profits for investors now trump everything.

So, so sad.

I think many of the designs under the new Remington banner are terrific. If the quality was there,
they'd be selling a lot of guns, and they wouldn't be in this mess.

-Stretch

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AJMD429
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Re: Remington Bankruptcy?

#11 Post by AJMD429 » Tue Feb 13, 2018 9:18 pm

Same thing is happening in health care... :|
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Re: Remington Bankruptcy?

#12 Post by marlinman93 » Wed Feb 14, 2018 12:36 pm

Beyond poor workmanship Remington also diluted their product lineup by offering all sorts of guns that everyone else was offering. Getting into the AR15 lineup that's got more companies making them than any other single gun made. Getting into all manner of handguns that have similar models offered by everyone else!
They should have stuck with what they were making and concentrated on doing that better.
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Re: Remington Bankruptcy?

#13 Post by AJMD429 » Wed Feb 14, 2018 1:02 pm

marlinman93 wrote:
Wed Feb 14, 2018 12:36 pm
Beyond poor workmanship Remington also diluted their product lineup by offering all sorts of guns that everyone else was offering. Getting into the AR15 lineup that's got more companies making them than any other single gun made. Getting into all manner of handguns that have similar models offered by everyone else!
They should have stuck with what they were making and concentrated on doing that better.
Yep.....
PhotoSuckit Doctors for Sensible Gun Laws
"first do no harm" - gun control LAWS lead to far more deaths than 'easy access' ever could.


Want REAL change? . . . . . "Boortz/Nugent in 2012 . . . ! "

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BlaineG
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Re: Remington Bankruptcy?

#14 Post by BlaineG » Wed Feb 14, 2018 1:44 pm

Well, I've said it before: Trying to make one of everything is crazy.
I hope Marlin, such as it is today :roll: , can stay intact.
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marlinman93
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Re: Remington Bankruptcy?

#15 Post by marlinman93 » Sat Feb 17, 2018 12:10 pm

BlaineG wrote:
Wed Feb 14, 2018 1:44 pm
Well, I've said it before: Trying to make one of everything is crazy.
I hope Marlin, such as it is today :roll: , can stay intact.
I hope Remington and Marlin both survive! Remington is the oldest gun maker in the USA today! Seeing them go away would be a huge loss to the history of Eliphat Remington!
Pre WWI Marlins and Singleshot rifles!
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afish4570
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Re: Remington Bankruptcy?

#16 Post by afish4570 » Mon Feb 19, 2018 12:35 am

Never got my $100.00 rebate on my 45-70 1895. Wonder if I will ever see the refund?? AFISH4570
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