Remington Files for Bankrupcy

Zappa said:
You must have bought them new within the last 6 or 7 years, that's about when I noticed the quality going downhill. The 870's with the plastic triggerguard are junk. I looked at a new one last year to give as a high school graduation gift to a cousin (who lives 100 miles north of me) and decided he'd be better off with one of my rarely used (80's vintage) Mossberg 500's instead.
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I've had my 597 for about 10 years. Prior to that I had another 597 but the receiver cracked and I had to scrap it. I guess the recoil of that ultra powerful .22 LR was just too much for it. [thinking]. I've had my 11-87 for about 20 years. I've had to replace the entire trigger assembly, mag spring, and follower to keep it in working order. The barrel ribbing doesn't align with the lines on the top of the receiver. NothingI can do about that. When I bought a rifled barrel with a scope cantilever the cantilever was not aligned with the bore of barrel... and I mean not even close. It was screwed and epoxied into place. I removed the screws and fortunately they used cheap epoxy and I was able to separate the cantilever form the barrel without damaging the parts. Cleaned off the epoxy residue and reinstalled the cantilever as straight as I could by eyeballing it. Good enough to zero the scope on a slug gun for the woods. But none if that noise should have been necessary.

I was actually looking at one of their muzzle loaders (ultimate muzzle loader) but now -with the company's future uncertain I'm going to pass. That muzzy requires certain cartridge cases (cut .308) cases that it uses for the ignition system and only Remy makes and uses them... They go under and I lose the source the muzzy becomes useless... So I guess I'm back to searching on that front.
 
I have no beef with Remington and since I like shotguns I have some. I admit I don't shoot them enough to fully realize if there are any major issues. It's a good name, shame to see it go under if it finally does.
 
They were a NY based company that let their product quality fall (R51, Remlin, etc.) then decided to play ball with douchebag Cuomo on the SAFE Act. If they had quality products and a solid reputation for taking on vehement antigun, antifreedom despots like Andy Cuomo, they’d be a star in the industry. Instead they’re bankrupt.
 
It's only a matter of time before the doors are shut for good. Remington is affiliated with Freedom Group, which is affiliated with Cerberus Capital Management (Bushmaster), which owns Steward Health Care. These capital management companies above despise firearms and I believe are associated with George Soros and his friends who are trying to rid this country of firearms. Also, the companies listed above, only care about profit. They do not care about anything else. Their model is to buy failing companies, cut and slash the workforce to bare bones and do one of the following. They will either keep the company if it is profitable, sell if profitable, sell if not profitable, or completely shut it down. So knowing how much they despise firearms and don't care about their employees or their customers that they serve, Remington will be a thing of the past in no time at all IMO.
 
LTCRN said:
It's only a matter of time before the doors are shut for good. Remington is affiliated with Freedom Group, which is affiliated with Cerberus Capital Management (Bushmaster), which owns Steward Health Care. These capital management companies above despise firearms and I believe are associated with George Soros and his friends who are trying to rid this country of firearms. Also, the companies listed above, only care about profit. They do not care about anything else. Their model is to buy failing companies, cut and slash the workforce to bare bones and do one of the following. They will either keep the company if it is profitable, sell if profitable, sell if not profitable, or completely shut it down. So knowing how much they despise firearms and don't care about their employees or their customers that they serve, Remington will be a thing of the past in no time at all IMO.
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So are you saying that this is an inside job? By a known anti? Buy it up and dispose of it as a form of gun control from within?
 
I think if Ruger bought the lever & shotgun part of their business they could do something profitable with it in NH or AZ. Their hunting rifles and handguns outside of the 1911 lines have been dogs for a long time though. I'm not sure if they still own the ammo company.
 
evalance said:
was supposes to take 4-8 weeks? I still haven't gotten my rebate for the black Friday ammo? class auction lawsuit ?
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I've submitted 3 Remington rebates over the years and only recieved one back and that was 5 years ago. I followed up on the other two and they told me to bad.
 
enbloc said:
Article did not mention ammo, which must outsell their firearms.
It did, however mention a $950,000,000 dept pile...
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When SIG announced their ammo plant was moving to Jacksonville, I assumed they were just waiting to pounce on the Remington ammo plant in Lonoke, which is less than 20 miles away.
 
I like the SIG ammo, shoots clean and I can group it well.
 
Maddawg1952 said:
So are you saying that this is an inside job? By a known anti? Buy it up and dispose of it as a form of gun control from within?
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This was the thinking years ago she cerbus started buying what they could
ATK owns the next big chunk of gun companies.
 
radioman said:
They had 8yrs of windfall under O? What did they do with the money??
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Yeah but they were real late to the party with handguns, and that was were the real money was. All of the Obummer permit crowd bout handguns out of fear that they would never have a chance.

Broccoli Iglesias said:
It is called the 700.
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It's a damn shame. There was a time when the 700 and the Winchester model 70 were the two finest rifles available. What I wouldn't give for an authentic M40. Those boys at Quantico really know their stuff.
 
LTCRN said:
It's only a matter of time before the doors are shut for good. Remington is affiliated with Freedom Group, which is affiliated with Cerberus Capital Management (Bushmaster), which owns Steward Health Care. These capital management companies above despise firearms and I believe are associated with George Soros and his friends who are trying to rid this country of firearms. Also, the companies listed above, only care about profit. They do not care about anything else. Their model is to buy failing companies, cut and slash the workforce to bare bones and do one of the following. They will either keep the company if it is profitable, sell if profitable, sell if not profitable, or completely shut it down. So knowing how much they despise firearms and don't care about their employees or their customers that they serve, Remington will be a thing of the past in no time at all IMO.
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gordongekko2_1565465c.jpg
 
My dad (who worked for H&R/NEF in Gardner) bought me my first ‘real’ gun when I was 12. An 870 Wingmaster in 12Ga with a 26” barrel w/ bead sight. That gun is and has been flawless - but it was in 1980.

I bought a used 22 model 597 several years after and it too is a sweet little shooter.

With that said, agreed - Remington isn’t and hasn’t been for some time what it was.
 
fencer said:
Yeah but they were real late to the party with handguns, and that was were the real money was. All of the Obummer permit crowd bout handguns out of fear that they would never have a chance.
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It's worse than that. They were way late with ARs etc. They also had a shitload of poor quality rifles and shotguns that nobody wanted. Then they got punched in the rectum with a massive recall (thats probably still
ongoing) that they knew about for a long ass time and did nothing on...

-Mike
 
KBCraig said:
When SIG announced their ammo plant was moving to Jacksonville, I assumed they were just waiting to pounce on the Remington ammo plant in Lonoke, which is less than 20 miles away.
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I bet someone will buy that out, either a group of investors or winchester/olin, etc. I think ATK is probably too big to buy it (and someone would probably scream antitrust if they did).

I think eventually the remington brand might reappear made by someone else... but I doubt that the company as it consists is going to come back alive... they're almost a billion in debt.

-Mike
 
Remington has sucked badly for a long time. Zero innovation, a destructive tendency to buy up solid brands and ruin them only to shut the down. Poor customer service (at best) Poor product quality.

Not unlike Colt, I really don't care. I feel for hard working people loosing jobs, but this writing has been on the wall for a long time

Think of all the great companies they have ruined.

Marlin, H&R, DPMS, Bushmaster, Para.... oh wait, Para sucked to begin with ;)
 
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Probably will get broken up, with the brands, whatever IP they have and real estate sold off to different folks. The company as a whole has been for sale for some time and no takers,
 
radioman said:
They had 8yrs of windfall under O? What did they do with the money?
Another American company mismanaged into the ground?
I guess as others have said—
how many crap guns do you have to make before your out?
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Yep. One has to wonder. Squandered it????

I've got an 870 and a 1187 that are flawless. Bought the 870 (Express) at WM a billion years ago. (OK, maybe 20.) So I've been satisfied. But the rumblings have been there for at least a year.



As far as "going out of business," maybe. This could just be a GM-style FU to the creditors. Esp. since they want the CREDITORS to help finance operations while it goes through bankruptcy.

The smoke signals indicate this is an inside job by Cerebrus. After Sandy Hook, I think the goal was to tank the company by some insiders. I hope they lose their shirts in the process.
 
sieveboy said:
They were a NY based company that let their product quality fall (R51, Remlin, etc.) then decided to play ball with douchebag Cuomo on the SAFE Act. If they had quality products and a solid reputation for taking on vehement antigun, antifreedom despots like Andy Cuomo, they’d be a star in the industry. Instead they’re bankrupt.
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And ATF and DHS contracts... but guess what? No bailout! Hahahahaahaa
 
its how it always works, a capital investment group buys a struggling company with a good reputation for low money. they streamline the company (get rid of the skilled pro's cause they make too much money) hire unskilled labor (as they think that monkeys can do the job,) they ride the reputation as long as they can, when things go south they file bankruptcy, milk all that they can. they take the money and run. no matter the product, its the procedure. no good ever comes from it. capital investment company's are predators and nothing more.
 
Dennis in MA said:
Yep. One has to wonder. Squandered it????

I've got an 870 and a 1187 that are flawless. Bought the 870 (Express) at WM a billion years ago. (OK, maybe 20.) So I've been satisfied. But the rumblings have been there for at least a year.



As far as "going out of business," maybe. This could just be a GM-style FU to the creditors. Esp. since they want the CREDITORS to help finance operations while it goes through bankruptcy.

The smoke signals indicate this is an inside job by Cerebrus. After Sandy Hook, I think the goal was to tank the company by some insiders. I hope they lose their shirts in the process.
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I think some people don't even notice how bad the 870 really is in current production until they put it side by side with older ones.

I handled a new (2-3 yrs ago) 870 express and a new 870 wingmaster then a decades old 870. The new wingmaster felt closer to the express than it did the good quality older one. I have had people tell me that the 870 just jams and has issues, then I hand them mine and it becomes "Oh this is nice. And how much did you say this cost you?"I

I am sure someone could pick up their designs on a few of the long time iconic/classic guns and produce them and get decent market but I am not sure if they will ever touch the quality/build of the older guns because modern markets demand things made efficiently/inexpensively and people aren't going to necessarily want to pay for the labor required to meet that standard. Someone can't easily come back to the market with something like the 870 express but for noticeably more than the price-point of the mossberg 500 (and more than it sold for pre REM bankruptcy) because that will just drive people to not buy it.
 
Supposedly, my pre black friday rebate check is in the mail. Spoke to someone there today. We shall see.


edit: got my check today $$$
 
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marleythefish said:
its how it always works, a capital investment group buys a struggling company with a good reputation for low money. they streamline the company (get rid of the skilled pro's cause they make too much money) hire unskilled labor (as they think that monkeys can do the job,) they ride the reputation as long as they can, when things go south they file bankruptcy, milk all that they can. they take the money and run. no matter the product, its the procedure. no good ever comes from it. capital investment company's are predators and nothing more.
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I don't know if I'd go as far as "always / ever", but it seems to happen a fair amount. Seems to be going on at Gibson: Gibson ‘running out of time – rapidly’ | Nashville Post
"Basu said some bondholders have complained about a lack of clarity from Gibson — a situation that has not improved by the arrival of GSO Capital Partners, a unit of private equity giant Blackstone that about a year ago extended Gibson a lifeline via $130 million in loans. Basu told the Post GSO’s arrival on the scene has unsettled some bondholders, who have organized and hired financial and legal advisors to protect their interests."​
 
numerous reports that Remington filed yesterday

Gun maker Remington files for bankruptcy


"In its Chapter 11 filing, Remington said it had between $100 million and $500 million in debt and would continue to operate while under bankruptcy protection. It estimated that its assets were between $100 million and $500 million."
 

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