Remington filing for bankruptcy?

[Jim/Wa]

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

 

[shoots-straight]

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.

 

[ccc23454]

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...

 

[Big Fin]

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.

 

[N2TRKYS]

I hate it. Remingtons are the only rifles and shotguns that I like.

 

[406LIFE]

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.

 

[jryoung]

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.

 

[LopeHunter]

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

 

[Southern Elk]

I love my Brownings.

 

[stillkickin]

To boot, Cerebus acquired only $252M of debt in 2007. They just kept loading the tanker until it ran aground.

This^^^^^

 

[mtmuley]

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

 

[sneakypete]

X2 what Randy said!

 

[700Rem]

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.

 

[TimeOnTarget]

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.

 

[VikingsGuy]

Whatever some want to blame it on, incompetent management is at the core of the problem.

Yup, bad management can trump good markets.

 

[Brian in Montana]

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.

 

[VikingsGuy]

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.

 

[TimeOnTarget]

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.

 

[Lonesome_God_outdoors]

It's a fairly common issue when bought out by investment management companies

 

[MThuntr]

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.