Remington files for bankruptcy.

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  • ArcadiaGP

    Wanderer
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    Remington, one of America's oldest gun makers, files for bankruptcy - Mar. 25, 2018

    The bankruptcy filing allows Remington to stay in business while restructuring its massive debt. The company has been planning to reduce its debt by $700 million through the Chapter 11 process and contribute $145 million to its subsidiaries.

    Remington plans to keep on making guns. The company said, when it first announced its plan to file for bankruptcy in February, that operations "will not be disrupted by the restructuring process."

    Founded in 1816, Remington is one of the oldest and best-known gun makers in the world. It's owned by Cerberus Capital Management, which plans to shed ownership once the bankruptcy is complete.
     

    luger fan

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    Mar 8, 2018
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    Remington bought Rohrbaugh, the smallest. lightest 9mm pocket gun EVER made, 3-4 years ago for millions. The IDEA was to duplicate the R9. Problem is the R9 is 100% stainless and both difficult and expensive. The Rohrbaughs were ALL made by one man, Eric Rohrbaugh. There were two brothers, Eric and Carl plus their mother who did the books. They made only THREE A DAY, total out there about 6000, counting my 4:D

    Millions of dollars later Remington found out what Eric told them from day one. You can NOT make a plastic R9. Won't hold up. They settled on cheaper metals and was production methods. The RM 380 was/is a DISASTER costing Remington many, many millions.

    Poor management and products people didn't want. All over but the crying.
     

    Spyco

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    Their lackluster product offerings along with garbage QC did them no favors. Maybe they will realize that they need to put some effort into their products, people might want to get one and keep it.
     

    Cerberus

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    Their lackluster product offerings along with garbage QC did them no favors. Maybe they will realize that they need to put some effort into their products, people might want to get one and keep it.

    I've heard of these mythical QC issues on the interwebz, never have seen one in person though. Got seven post 2003 Remingtons myself and not a single issue yet, neither have any of my shooting friends.
     

    00Buck

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    Sad to hear the news. I'm thinking a big money conglomeration will buy them up.

    Heck if that happens we might see a model 12 Auto-5 Wingmaster produced :rolleyes:. I doubt as all those had fine wood and actual blued steel, a thing of the past:(
     

    Doublehelix

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    There was an article on the Yahoo! newsfeed today that said something like "Donald Trump causes Remington to file for bankruptcy". It is always his fault apparently...
     

    Beowulf

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    So they robbed the Marlin pension fund, and THEN declare bankruptcy.
    Class act that Cerberus group

    Welcome to private equity. Normally, I don't listen to anything coming out of the hard left and the Occupy whatever crowd, but when they dubbed these private equity firms as "Vulture Capitalists", they more or less hit the nail on the head. Not all private equity works that way, but enough of them do to smear the whole class. They swoop in on a struggling company, squeeze all the money they can out of it, pick over the carcass, and then sell what's left... leaving the employees hanging out to dry.

    Nothing illegal about it, but just highly unethical. If we could only get Congress critters (both Republicans and Democrats) from rigging the system in their benefactors favor instead of leaving the market free, then maybe this would stop. But since both major parties are bought and paid for, apparently the only choices we get anymore is socialism and crony corrupt capitalism.
     

    worddoer

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    Navajo Nation in talks to buy Remington?

    This is a different link, but same info as the post above.

    https://www.theblaze.com/news/remin...vanced-talks-for-sale-to-navajo-nation-report

    According to the article I found, this is all due to the litigation fees from all the Sandy Hook lawsuits.

    I find it interesting that the Navajo Nation is looking to purchase a firearms company. I wonder if they own any other firearms companies or if this will be a first for them.

    I am not sure on the Navajo's Nations stance on firearms ownership and the 2nd amendment as a human right. I would think that because of US history and how the Native Americans were treated they might have a better understanding than most. And maybe that is part of the intended purpose of owning their own firearms manufacturing conglomerate...to control their own arms production for their own protection in the future.
     

    Trapper Jim

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    I've heard of these mythical QC issues on the interwebz, never have seen one in person though. Got seven post 2003 Remingtons myself and not a single issue yet, neither have any of my shooting friends.

    yep to this. Been shooting hundreds of Remington Products for over 50 years. Including Remington made Marlins, Bushmasters and also Custom Shop guns as well. Got a class action suit check 20 years ago where some dummy put mud in the barrel and blew up his hand. I never cashed it. Also my 700 triggers have never went off and killed nuns and babies. Guess I got all the good ones and all the others went to an undefined user. Go figure.
     

    thunderchicken

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    Feb 26, 2010
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    I don't like to hear of any gun US gun manufacturer dealing with financial issues that requires filing for bankruptcy. I can't really knock Remington since my experience with them has been limited and what I have shot worked well. Hopefully the tide will turn for them
     

    MrSmitty

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    I traded for a recent manufactured 870...love it! Had the Tac-14, that was why I got the full size 870. I let the Tac-14 go, but the express is my go to home defense gun, til I can get to a rifle....I hope they come out of this better than ever, whomever buys them!
     
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