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  1. #1
    Join Date
    Dec 2015
    Location
    SW Washington
    Posts
    114

    Default Remington filing for bankruptcy?

    I just saw this on google news. I had no idea. Are Remington's problems widely known?

  2. #2
    Join Date
    Oct 2005
    Location
    Bitterroot Valley
    Posts
    5,690

    Default

    Yep, no democratic president to help in firearm sales and they go down. Should of supported a Dem me thinks.

    I know they lost a bunch of money and followers with their malfunctioning safety's.
    How much l wanted to take scalps, but it was not my kill.

  3. #3

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    Probably just to cover them for getting sued for that junk their selling now! Shame is they use to make some great reliable and accurate guns...

  4. #4
    Join Date
    Dec 2000
    Location
    Bozeman, MT
    Posts
    12,885

    Default

    Quote Originally Posted by Jim/Wa View Post
    Are Remington's problems widely known?
    Within the industry, widely observed and widely expected.

    How do you have eight years of the highest level of gun sales since guns were invented, and emerge from that with $950 Million of debt? Most all their competitors emerged flush with cash, debt retired, and tons of investment in new product ideas.

    Whatever some want to blame it on, incompetent management is at the core of the problem.
    My name is Randy Newberg and I approved this post. What is written is my opinion, and my opinion only.

    "Hunt when you can. You're gonna run outta health before you run outta money."

  5. #5

    Default

    I hate it. Remingtons are the only rifles and shotguns that I like.
    83% of all statistics are made up.

  6. #6
    Join Date
    Aug 2016
    Location
    Bitterroot Valley, MT
    Posts
    1,377

    Default

    Quote Originally Posted by Big Fin View Post
    How do you have eight years of the highest level of gun sales since guns were invented, and emerge from that with $950 Million of debt? Most all their competitors emerged flush with cash, debt retired, and tons of investment in new product ideas.
    This was exactly what I thought when I dug into the situation a bit. It greatly saddens me that this is where they have ended up.
    "There are no words that can tell the hidden spirit of the wilderness, that can reveal its mystery, its melancholy, and its charm." ~TR

    "He was a mighty hunter before the Lord." ~Genesis 10:9

  7. #7
    Join Date
    Jan 2012
    Location
    Unable to determine due to velocity
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    4,079

    Default

    Quote Originally Posted by Big Fin View Post
    Within the industry, widely observed and widely expected.

    How do you have eight years of the highest level of gun sales since guns were invented, and emerge from that with $950 Million of debt? Most all their competitors emerged flush with cash, debt retired, and tons of investment in new product ideas.

    Whatever some want to blame it on, incompetent management is at the core of the problem.
    To boot, Cerebus acquired only $252M of debt in 2007. They just kept loading the tanker until it ran aground.
    Four of a kind, 7x57, 284 winchester, 7 Remington Mag, 7 Mashburn.

  8. #8

    Default

    They used to make a heckuva manual typewriter. I prefer a Royal manual myself.

  9. #9

    Default

    I love my Brownings.
    "The mountains are calling and I must go." - John Muir

  10. #10

    Default

    Quote Originally Posted by jryoung View Post
    To boot, Cerebus acquired only $252M of debt in 2007. They just kept loading the tanker until it ran aground.
    This^^^^^

  11. #11

    Default

    Hate to see any firearms related company in trouble. I just hope whatever happens that there are no Remington rifles produced outside of the US in an attempt to right the ship. I am a die hard Remington shooter, but wouldn't purchase a foreign made rifle. mtmuley

  12. Default

    X2 what Randy said!

  13. Default

    It's a shame for sure, I agree with Randy and mtmuley. All i shoot are Remingtons and flat out refuse to hunt with a rifle made "some where else". As unfortunate as it is, maybe something good will come out of it, an investor that wants to bring back Remington to the front.

  14. #14

    Default

    I hate to see it, but I guess it should have been expected looking at the trash they have been producing for the last 10-15 years.

  15. #15

    Default

    Quote Originally Posted by Big Fin View Post
    Whatever some want to blame it on, incompetent management is at the core of the problem.
    Yup, bad management can trump good markets.
    "Freedom is NOT Free"

  16. #16

    Default

    It kinda upsets me a little to hear this. The market is so proliferate with Remington guns and other products its hard to imagine.

    I guess the other thing I hate about this is that, like Remington or not, it is certainly iconic in the gun world and I'm sure the anti-gun folks are giddy.
    Act justly, love mercy, walk humbly.

    Micah 6:8

  17. #17

    Default

    For those who are Rem fans, it isn't going away. It will continue to operate under the protection of Chapter 11 Bankruptcy and following debt restructuring will be sold to a new owner. Only time will tell if the new owner will be better or worse than the current owner, but hard to imagine it being worse than Cerberus.
    "Freedom is NOT Free"

  18. #18

    Default

    Quote Originally Posted by VikingsGuy View Post
    For those who are Rem fans, it isn't going away. It will continue to operate under the protection of Chapter 11 Bankruptcy and following debt restructuring will be sold to a new owner. Only time will tell if the new owner will be better or worse than the current owner, but hard to imagine it being worse than Cerberus.
    Hopefully it falls back in the hands off a competent gun nut owner. Who will produce top quality firearms again.

  19. #19

    Default

    It's a fairly common issue when bought out by investment management companies
    If you've come this far, might as well go all the way.

  20. #20
    Join Date
    Oct 2009
    Location
    In the Sagebrush (Dillon, MT)
    Posts
    2,549

    Default

    Hopefully whomever buys Remington after this mess will actually have a QC division...maybe they'll split off their smaller arms companies so a Marlin 1895 is a worthwhile rifle.

  21. #21

    Default

    Harvard Injury Control Research Center. These gun buyers have come to be known as “super owners” and one study, conducted by Harvard and Northeastern universities, concluded that about half the guns in America are owned by only 3 percent of the adult population, with an average of 17 firearms each
    .

    Actually, a pretty good read; https://www.bloomberg.com/news/artic...-in-bankruptcy

  22. #22

    Default

    Quote Originally Posted by Lonesome_God_outdoors View Post
    It's a fairly common issue when bought out by investment management companies
    It would be interesting to know how much cash Cerberus pulled out of it over the years. Annual mandatory dividends and other clever vehicles can make sure the private capital still gets paid even when the business is not performing.
    "Freedom is NOT Free"

  23. #23

    Default

    I was interested to see that Dan Quayle is in the Cerberus leadership. Even though the quality of the firearms took a dip, I never noticed any spelling mistakes on the barrels...

  24. #24

    Default

    I’m so sick and tired of a tried and true business being successful and some bean counters swooping in to cash out and strip down the things that most likely got that business to be successful in the first place.

    The top employees usually end up leaving, often to team up with the competition or start thier own gig down the street. I’ve seen it too many times.

    These buyers are clueless and think that overall revenue will stay constant no matter what they do. You can’t deviate from customer service and QC.

    You have to dance with those who “brung” you and cannot slap the hand that feeds.
    "that's a special feeling, Lloyd"

  25. #25

    Default

    I shoot a Model 700 xcrii 270 win as my main deer rifle. I replaced the trigger with a timney and the stock with a mcmillan edge. I want for nothing more in a deer rifle. But I had to spend an additional $700 to get there. That said I think Remington is a bit slow to game on new products. And they fail to see demand and trends. For instance, I woukd have loved to have purchased a xcrii in 7mm08. But they only offered it in a long action. I somewhat expected them to add some short actions to the xcrii line but they discontiued them instead. They have a debt problem as well with not much to show in new high demand products for all the borrowing. When i put together my deer rifle I didnt really have a budget but if I did I would probably look at another manufacturer other than Remmington.

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