Remington filing for bankruptcy?

[noharleyyet]

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/arti...on-will-cede-control-to-lenders-in-bankruptcy

 

[VikingsGuy]

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.

 

[Dougfirtree]

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...

 

[Stubaby]

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.

 

[Boarmaster]

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.

 

[Gunner46]

QC killed Remington/Marlin. Until they get that straight no restructure will bail them out ! Remington made me a Ruger fan and I'm not saying Ruger doesn't have some QC issues they need to address, they do, just not the boat load that swamped Rem.

 

[noharleyyet]

Wyoming Weatherby says holla.....; )

 

[Big Sky Guy]

Remington Arms prepping for bankruptcy, in 'advanced talks' for sale to Navajo Nation: report | Blaze Media

The gunmaker continues to struggle with legal fees stemming from the Sandy Hook massacre

www.theblaze.com

I just seen this article today. While I don’t believe a firearms company should be liable for what is done with the firearm after it has been sold, I also don’t see how a company as big and long-standing as Remington is struggling to overcome this lawsuit. Makes sense what others have said about poor company management. Would be neat to see them bought and turned around. Great opportunity for Navajo Nation.

 

[elkhnter]

Another vote for Weatherby.

 

[Lyfter1013]

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.

Add poor quality to that...

 

[LuketheDog]

I think the last Remington firearms that I liked were an 1100 12ga. my grandad gave me when I was 16 and an 870 12ga. I bought 15 years ago. Seems like "too big to fail" is a bad tack to take...

 

[hogcarpy]

My Mom and Stepdad retired in the early 2000’s from the ammunition factory in Lonoke, AR. I worked there for a summer during college and my brother worked there for 2 years while he was going to a community college. We were concerned back then. Saw QC, marketing, R&D and capital investment issues first hand. Sad deal.

 

[quiet22]

I would not mourn for the changes that occur in all industries and the eventual demise of Rem. Remember Nash cars and Studebaker?....now there's Tesla and others to leap ahead of GM and Chrysler and Ford. The story of business is always the same....grow....recreate....create value and quality.....repeat....all meeting a market demand. You fail at that, you're history. Rem was just a tool for an investment company for them to dismantle financially and walk away from eventually. For us, we should expect only the worst in this current environment and scenario. Your service and warranty will eventually fail you and then the resale will collapse. I would look to rethink my future purchases of 'new' Rem products.

 

[RaiderRich]

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.

Unfortunately that is the reality of business in America. Capital firms look at potential acquisitions as though they are a sponge full of water. All they want to do is wring it out as completely as they can for the water and toss what's left aside. Obviously water is money in this scenario and what is left of the sponge are hard working people that become unemployed and empty production facilities.

 

[fmnjr]

Nothing can take a good business down faster than bad management - Warren Buffet

 

[Addicting]

Your service and warranty will eventually fail you and then the resale will collapse. I would look to thin my Rem rifle holdings at this moment for equipment I could not repair/maintain/don't like and look to replace them with companies with legs.

I disagree on one of their rifles, the Rem 700 has so much aftermarket support and clones it will always have support from a gunsmith.

 

[Glockster]

Sounds like the Navajo deal fell through. Saw the report they filed for Chapter 11.

 

[Mallardsx2]

I only owned 1 Remington firearm. It jammed constantly. Then I sold it.

Good riddance.

 

[antelopedundee]

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...

You never had a Remington 700 in .264 Idahoe Potatoe?

 

[antelopedundee]

The bigger question is what fool or fools continued to loan them money when they were already up to their arse in debt? Throwing good money after bad or the DJT approach where you threaten to file and then get more cash because the lender wants to protect his investment. Finally when the bank says NO MORE then you file. Cept I believe that he took the tax benefit for losing someone else's money.