Remington Filing for Bankruptcy?

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NDGuy

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Will be interesting to see who buys them, hope it's someone who gives a shit that can turn around their mismanagement and QC.
 
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The head of Cerberus is a legit gun guy and they have really tried to make it work. Read a little about what they did with marlin. When they bought it the machines were 60 years old and leaked so much oil they had built troughs around them to contain it. There were no technical drawings of their products and the know how was resident in a few employees that were fairly long in the tooth.

I can’t argue that QC did not suffer but I am sympathetic to them and their effort to make it work.

Unfortunately, their investors have backed away from the Remington investment due to headline risk. It is a real problem and a potential way to choke out the gun industry. If it becomes unpalatable for institutional investors to buy the stock or big banks to lend money to gun makers then they will go away. Same with ammo.
 

Squirrels

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This is not good...not good at all. Snowflakes are very happy to hear this.
 
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NDGuy

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This is not good...not good at all. Snowflakes are very happy to hear this.

What's weird is that they have sold a crap ton of products but were in the red for quite awhile, that just sounds like bad management.
 

Squirrels

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What's weird is that they have sold a crap ton of products but were in the red for quite awhile, that just sounds like bad management.

Yep, this is just my opinion based on my personal experience but most of what Remington has made for the last several years has been total junk for the masses and not dependable, well built products I would chose to spend my money on.
 

Matt W.

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What's weird is that they have sold a crap ton of products but were in the red for quite awhile, that just sounds like bad management.
I am with ya there. Cash Flow is king and they did not seem to manage that well...
They sell to much stuff, and then multiple variants of that same stuff... IMO, they should have backed down, got REALLY excellent at the M700 and the M870. Review other lines for profitability and drop anything that isn't making money... Maybe only make a dozen versions of the M700 instead of a gazillion... :) #MakeRemingtonGreatAgain
 

gelton

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Cant believe that over the last decade - a period when more guns were sold than anytime in recent history - that Remington wasnt able to not only right the ship but flourish. Sad that with all of that supposed momentum they werent able to grab a bigger piece of the pie.
 
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^^^^ I can believe it based on what I saw remington produce the last 10yrs. Over the last dozen or so years it was a buyers market with new rifles being offered every year being built far superior to anything I saw remington putting out.. For decades remington relied on being the best in their respective price points and consumers held them as somewhat of the gold standard. When winchester products went south post-64, the door was wide open for remington to be the big man on top... and they were until recently.

What is amazing/fascinating is the amount of great quality firearms being produced today... at every price point. There is literally zero reason to own a gun that isn't very well made and remingtons weren't in recent years. I ordered an SPSS about 7 years ago to the tune of $650. What I received when I opened the box was a mashup of pot-metal with horrible attention given to it. Meanwhile companies like savage, tikka, ruger, etc... were all producing guns for similar $$ or less and were much better. What I see on the market from companies like tikka, bergara and kimber, winchester, etc.. today make me wonder why anyone would ever buy a M700 again... Same can be said as you go up their model lines... in virtually every price category there's simply been better options.
 

V65Magna

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Looks like Remington had begun layoffs as far back as 2014 and had an additional round of them in Ilion, NY last fall. The writing has been on the wall for this for a while and it's a damn shame. Add to that what I'm sure was not a hospitable business environment in the Empire state and it's not hard to see why it has come to this. I stopped buying 700's a long time ago because the quality just wasn't there. It would be nice if a group of investors could "buy them back from AMF" like what happened with HD a few decades ago and pull them out of the mire, but with the stigma on the industry (much of it undeserved) I don't think we should hold our breath.
 
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I'm a diehard Remington owner. 1100s, 870s and 700s are amazing.

BUT I think they have really watered down the brand over the past 20 years.
Not just the cheaper gun variants but they sell Remington "clothing" at walmart etc...it is junk. Sad.
I am happy about the ch 11 and reorganization that will come of it.

The sky is not falling.
We have to keep in mind that Chapter 11 is just basically a pause button...lots of companies come out of 11 just fine.
Now if they were filing chapter 7...then I would be a bit more panic mode....

Hopefully they will emerge from this thing in a year or two after trimming off some bad business groups in great shape!
 
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My fault I thought for some reason they were still owned by Freedom Group or whatever


Cerberus bought Remington in 2007 and turned it into freedom group. Started making changes and buying other brands.

Remington Sold to Cerberus for $370 Million | SGB Online

They tried to sell it after the sandy hook shooting and then again in 2015.

Stephen Feinberg still owns Remington Outdoor, the company making the AR-15 — Quartz

The concern is that some of Cerberus investors (pensions, endowments) pushed for the sale or said they wanted out of the investment. If gun manufacturers become an asset class that big investors shun in the US then the us gunmmakers will go away. .mil and LEO sales will probably still be fine, but you won’t see US consumer oriented gun brands or they will be sold to foreign investors. That becomes a potentially slippery slope. Gun makers. Then ammo. Then Gun accessories.

To be clear, I am not neccessarily pleased with the direction of Remington or Some of the other brands under their control in the past few years, but I am concerned about the broader implication of this pattern.
 

elkguide

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Remington hasn't helped themselves without a doubt but at the same time, those of us in that enjoy the shooting sports should definitely be concerned for the long term implications. If the naysayers can keep on finding ways to make it unpalatable for people to invest in or do business in the firearms field, then all of us are going to lose.
 

boom

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I'm a diehard Remington owner. 1100s, 870s and 700s are amazing.

BUT I think they have really watered down the brand over the past 20 years.
Not just the cheaper gun variants but they sell Remington "clothing" at walmart etc...it is junk. Sad.
I am happy about the ch 11 and reorganization that will come of it.

The sky is not falling.
We have to keep in mind that Chapter 11 is just basically a pause button...lots of companies come out of 11 just fine.
Now if they were filing chapter 7...then I would be a bit more panic mode....

Hopefully they will emerge from this thing in a year or two after trimming off some bad business groups in great shape!

in agreement. they can regroup and reorganize now. i still love my Remmy shotguns.
 
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