Inline FabricationTitan ReloadingMidSouth Shooters SupplyStainLess Steel Media
Lee PrecisionRotoMetals2Graf & SonsRepackbox
Wideners
Page 1 of 3 123 LastLast
Results 1 to 20 of 55

Thread: Remington Arms bankruptcy

  1. #1
    Boolit Master
    georgerkahn's Avatar
    Join Date
    Sep 2013
    Location
    South of the (Canada) border
    Posts
    801

    Remington Arms bankruptcy

    Local newspapers indicated Remington Arms is in debt over $950,000,000, and may be closing. With 850-950 employees, this would be devastating to the region -- for the employees, their families, and "support" businesses -- ranging from car dealers, to barbers, grocery stores, etc. An article may be read at http://www.localsyr.com/news/report-...ptcy/963718612
    For all people who very well may be affected, perhaps we should include this in our prayers?
    geo

  2. #2
    Boolit Master
    swheeler's Avatar
    Join Date
    Mar 2005
    Location
    Montana
    Posts
    4,433
    I hate to see this happen to an American institution but think it was bound to. They continued on a downward spiral for the last two decades, quality just wasn't in their vocabulary any longer.
    Hell, I was there!

  3. #3
    Boolit Master
    Join Date
    Nov 2012
    Location
    New York, the empire State
    Posts
    1,101
    This is The fate Of all Gun manufacturers In the US. The general View Of them are pure Evil. They are Bogged down with lawsuits. Because it is easy money . The bulk of the american Public are totally against Them, All the Old Companies are Out, Colt, Winchester, Remington. Soon the list will be bigger .
    it makes No difference what they did In the past. They will all Be Gone
    NRA Endowment Member
    International Ammunition Association
    State Rifle and Pistol Association
    ARTCA
    New York, the Empire State Where Empires were Won and Lost

  4. #4
    Boolit Master brewer12345's Avatar
    Join Date
    Sep 2017
    Location
    Denver Metro Area
    Posts
    546
    Remington was hovered up by a leveraged buyout shop, saddled with too much debt to carry, and along the way bought Marlin and ruined it. The outcome was pretty predictable years ago. I can't say I give a fig about Remington, but the destruction of Marlin is unforgivable, IMO.
    "I have learned from experience that a modicum of snuff can be most efficacious." - the Baron von Munchausen

  5. #5
    Boolit Grand Master
    Join Date
    Oct 2010
    Location
    fairbanks
    Posts
    9,004
    Quote Originally Posted by brewer12345 View Post
    Remington was hovered up by a leveraged buyout shop, saddled with too much debt to carry, and along the way bought Marlin and ruined it. The outcome was pretty predictable years ago. I can't say I give a fig about Remington, but the destruction of Marlin is unforgivable, IMO.
    That is one possibility and way of looking at it.

    I doubt Marlin sold out because everything was rosy, it is also possible that remington extended Marlins life.

  6. #6
    Boolit Grand Master


    Join Date
    Aug 2011
    Location
    N edge of D/FW Metromess
    Posts
    10,498
    Quote Originally Posted by brewer12345 View Post
    Remington was hovered up by a leveraged buyout shop, saddled with too much debt to carry, and along the way bought Marlin and ruined it. The outcome was pretty predictable years ago. I can't say I give a fig about Remington, but the destruction of Marlin is unforgivable, IMO.
    I agree but I think both companies were circling the bowl before they were bought out. Maybe the next owners will be interested in building quality firearms.
    Endowment Life Member NRA, Life Member TSRA, Member WACA, NRA Whittington Center, BBHC
    Smokeless powder is a passing fad! -Steve Garbe
    I hate rude behavior in a man. I won't tolerate it. -Woodrow F. Call, Lonesome Dove
    Some of my favorite recipes start out with a handful of depleted counterbalance devices.

  7. #7
    Boolit Master



    MUSTANG's Avatar
    Join Date
    Jan 2012
    Location
    Moapa, Nevada or Kalispell, Montana
    Posts
    1,238
    Many of the big name Gun Manufacturers such as Colts, Remington, Marlin, etc... had good solid loyal customers. They were bought out by the "Wall Street" types and their bones picked over, and as planned from the start; once they were irrecoverably debt ridden - they are relegated to the business trash bin. On the other hand; there are MANY new and emerging companies manufacturing Firearms and "Parts" for Firearms in the U.S. (Believe it or not, at least a dozen companies within 50 miles of our house doing this). Sometimes called "Creative Destruction", older companies slowly fail for many reasons to provide the services that the consumer wants; others rise to meet that need - which is what is occurring. Along the way the classics we grew up with are lost.

    (Still detest the Wall Street types that buy up good sound companies and destroy them to strip the wealth from them and leave them to rot and die).
    Mustang

    "In the beginning... the patriot is a scarce man, and brave and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot." - Mark Twain.

  8. #8
    Boolit Buddy
    Join Date
    Jun 2013
    Location
    Lynn Ma
    Posts
    323
    Freedom group bought Remington,Marlin,Bushmaster,H&R and other firearms companies too numerous to mention IMHO they bit off a lot more than they could chew and now the house of cards is falling down around their ears.

  9. #9
    I don't know what it would take for the employees to buy the company and put it back on track. That would put the future of their jobs in their own hands and insure that Remington will be here in the future. And I think the quality would return.

  10. #10
    Boolit Master

    Hickory's Avatar
    Join Date
    Feb 2009
    Location
    The Great Black Swamp of Northwest Ohio
    Posts
    3,717
    Quote Originally Posted by DocSavage View Post
    Freedom group bought Remington,Marlin,Bushmaster,H&R and other firearms companies too numerous to mention IMHO they bit off a lot more than they could chew and now the house of cards is falling down around their ears.
    Warning! Warning!!
    Conspiracy Theory


    This is only a thought with a theory.
    Where did the billions of dollars go that Obama spent on the stimulus? There was a lot of it that just disappeared.
    Was it given to Freedom Group to buy these gun companies up just to put them out of business? Could this be one of Obama's master schemes gone undetected?
    Political correctness is a national suicide pact.

    I am a sovereign individual, accountable
    only to God and my own conscience.

  11. #11
    Boolit Master



    MUSTANG's Avatar
    Join Date
    Jan 2012
    Location
    Moapa, Nevada or Kalispell, Montana
    Posts
    1,238
    Quote Originally Posted by Hickory View Post
    Warning! Warning!!
    Conspiracy Theory


    This is only a thought with a theory.
    Where did the billions of dollars go that Obama spent on the stimulus? There was a lot of it that just disappeared.
    Was it given to Freedom Group to buy these gun companies up just to put them out of business? Could this be one of Obama's master schemes gone undetected?
    Interesting thought. We know that Congress and Obama spent almost $10 Trillion more than they took in as taxes. Where did it go?
    Mustang

    "In the beginning... the patriot is a scarce man, and brave and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot." - Mark Twain.

  12. #12
    Boolit Master brewer12345's Avatar
    Join Date
    Sep 2017
    Location
    Denver Metro Area
    Posts
    546
    Quote Originally Posted by Hickory View Post
    Warning! Warning!!
    Conspiracy Theory


    This is only a thought with a theory.
    Where did the billions of dollars go that Obama spent on the stimulus? There was a lot of it that just disappeared.
    Was it given to Freedom Group to buy these gun companies up just to put them out of business? Could this be one of Obama's master schemes gone undetected?
    Time to stock up on the tinfoil, I guess.
    "I have learned from experience that a modicum of snuff can be most efficacious." - the Baron von Munchausen

  13. #13
    Boolit Master

    Rcmaveric's Avatar
    Join Date
    Jul 2017
    Location
    Jacksonville, FL
    Posts
    1,072
    Quote Originally Posted by salpal48 View Post
    This is The fate Of all Gun manufacturers In the US. The general View Of them are pure Evil. They are Bogged down with lawsuits. Because it is easy money . The bulk of the american Public are totally against Them, All the Old Companies are Out, Colt, Winchester, Remington. Soon the list will be bigger .
    it makes No difference what they did In the past. They will all Be Gone
    Gun and ammo manufactures and suppliers are protected from frivolous lawsuits. If someone tries to pull a frivolous lawsuit the person doing the suing can end up catching the bill for legal fees. I am not so sure the bulk of our country is against them. Only a select few states breading skiddish carebear type populations. From the news they have been going down hill for a while and i blame their current management. Another company will fill their market.
    "Speak softly and carry a big stick; you will go far."
    ~Theodore Roosevelt~

  14. #14
    Boolit Master
    Join Date
    Feb 2007
    Location
    Communism closing in!
    Posts
    2,630
    Quote Originally Posted by Rcmaveric View Post
    Gun and ammo manufactures and suppliers are protected from frivolous lawsuits. If someone tries to pull a frivolous lawsuit the person doing the suing can end up catching the bill for legal fees. I am not so sure the bulk of our country is against them. Only a select few states breading skiddish carebear type populations. From the news they have been going down hill for a while and i blame their current management. Another company will fill their market.
    The big lawsuit against Remington was not eliminated by the Commerce Protection Act.

    The thing is when you qualify by eliminating “frivilous lawsuits” you leave the “door” open and I am not pointing fingers at this group or that because we don’t want junk guns floating around, truely unsafe ones. But when a gun discharges when it’s intended to do so, or if someone modifies it and/or then mishandles it .... then the gun manufacturer should not be liable.

    But our justice system gravitates towards money .... the so called deep pockets and as such it must find deep pockets to sock it to. And not the whole country ... not even quite half even, but all too much of our citizens are very disconnected from their real roots.

    I for one am a huge fan of both Remington and Marlin and dearly hope that they arise from the ashes of their former selves to reatain the greatness they once bestowed!

    Three44s
    Last edited by Three44s; 02-11-2018 at 10:15 AM.

  15. #15
    Boolit Bub Nines&Twos's Avatar
    Join Date
    Feb 2018
    Location
    Tennessee
    Posts
    69
    Good riddance. For years they’ve produced garbage while other companies have stepped up and made a quality product.

    This is a free market capitalist society. Produce a quality product that people are willing to pay for or fall by the wayside. Sentimentality does not make profits. Same goes for Colt.
    It is a shame the current companies have soiled their ONCE good name but it’s done. Let them rot and give that market share to a company willing to do things right.

  16. #16
    Boolit Master brewer12345's Avatar
    Join Date
    Sep 2017
    Location
    Denver Metro Area
    Posts
    546
    Hmmm, there seems to be a misconception that Remington filing for bankruptcy means they are going away for good. Not likely in this case. What will happen is that they will shuck off a bunch of their debt load and someone else is likely to own the company vs. its current owners. Things may get messy with their operations for a while, but that is about it.

    They have made some strange business decisions, like exiting certain sections of the components markets. I have no doubt that that if they decided to start selling Core Lokt bullets again they would find an eager customer base, for example.
    "I have learned from experience that a modicum of snuff can be most efficacious." - the Baron von Munchausen

  17. #17
    Boolit Master scattershot's Avatar
    Join Date
    Sep 2011
    Location
    Denver, CO
    Posts
    888
    That’s truly a shame. Say what you will about the company, but Eliphalet Remington started it 1816, and it’s an American institution. Sad to see it end this way.
    "Experience is a series of non-fatal mistakes"


    Disarming is a mistake free people only get to make once...

  18. #18
    Boolit Grand Master Texas by God's Avatar
    Join Date
    Mar 2016
    Location
    Texas
    Posts
    5,919
    Time for a Goverment bailout ala GM, Chrysler, American Airlines,etc. Don't hold your breath.
    I told them to move to the buisiness friendly South but did they listen? Noooooooo!
    America's oldest gunmaker- what a shame. Perhaps Beretta can buy them out- Companies under their wing ( Tikka, Stoeger, and Uberti) seem to be doing ok. Those who cringe at foreign ownership should check themselves when they handle a Browning or Winchester(FN owned).

  19. #19
    Boolit Grand Master



    jmort's Avatar
    Join Date
    Jan 2011
    Location
    Color Me Gone
    Posts
    7,691
    “Hmmm, there seems to be a misconception that Remington filing for bankruptcy means they are going away for good. Not likely in this case.”


    ^^^ this is correct
    Chapter 11 Brankruptcy
    Company will reorganize
    May be broken up
    Remington will not disappear
    It will be different
    A lot of people/creditors will get a proverbial haircut
    If there is a pension plan it will get smoked
    "Had his shooting been as good as his running, he might have given a better account of himself."
    James. C. Henderson

  20. #20
    Boolit Grand Master Texas by God's Avatar
    Join Date
    Mar 2016
    Location
    Texas
    Posts
    5,919
    +1 on the components, brewer12345. I would love to see Remington components come back- especially Powr-Lok varmint bullets.

Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Abbreviations used in Reloading

BP Bronze Point IMR Improved Military Rifle PTD Pointed
BR Bench Rest M Magnum RN Round Nose
BT Boat Tail PL Power-Lokt SP Soft Point
C Compressed Charge PR Primer SPCL Soft Point "Core-Lokt"
HP Hollow Point PSPCL Pointed Soft Point "Core Lokt" C.O.L. Cartridge Overall Length
PSP Pointed Soft Point Spz Spitzer Point SBT Spitzer Boat Tail
LRN Lead Round Nose LWC Lead Wad Cutter LSWC Lead Semi Wad Cutter
GC Gas Check