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Thread: Change in a Changing World: Remington Facing Bancrupcy Again

  1. #1
    Boolit Grand Master pietro's Avatar
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    Change in a Changing World: Remington Facing Bancrupcy Again

    .

    https://www.wktv.com/content/news/Ilion ... 44791.html

    Remington either finds a buyer or heads to auction in September.

    Keep in mind that "Remington" also owns Marlin Firearms & other related companies.


    .
    Now I lay me down to sleep
    A gun beside me is what I keep
    If I awake, and you're inside
    The coroner's van is your next ride

  2. #2
    Boolit Master
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    It is very Unfortunate That all the major Gun manufacturer are Going out. These were all the Companies That helped the USA be what it is today. From The civil War to the present. Throughout history US weaponry was one for the best. Just a Current sign Of the time. When the war comes with China or russia, we going to have to ask them for weapons Before we start
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  3. #3
    Boolit Master

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    Quote Originally Posted by salpal48 View Post
    It is very Unfortunate That all the major Gun manufacturer are Going out. These were all the Companies That helped the USA be what it is today. From The civil War to the present. Throughout history US weaponry was one for the best. Just a Current sign Of the time. When the war comes with China or russia, we going to have to ask them for weapons Before we start
    Colt, FN, Sig...... there are other better options. Still sorry to see a once great company meet its demise.

  4. #4
    Boolit Buddy
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    Good riddance. Once the bean counters got ahold of the company the quality went downhill fast. If you cant make a quality product at a profit then you shouldnt be in business. Been a life long fan of Remington and Marlin but if its their time to go..............then goodbye. They dont make anything that is best in the category.

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    Remington is the victim of a corporate raider, they drain the money then leave the company swamped in debt till it cannot survive. The raider is only after the money, nothing else matters.

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    Boolit Master slim1836's Avatar
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    Perhaps Trump will bail them out, after all, past a president has done similar.

    Slim
    JUST GOTTA LOVE THIS JOINT.

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    Boolit Master
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    sad for sure, but reality is I much prefer the bergara to the current production 700 at the same price and definitely prefer a Henry over recently produced Remlin

  8. #8
    Boolit Master facetious's Avatar
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    Quote Originally Posted by Pressman View Post
    Remington is the victim of a corporate raider, they drain the money then leave the company swamped in debt till it cannot survive. The raider is only after the money, nothing else matters.
    There is a good chance you hit it on the nail. I worked in newspaper 40 years in production , and this is exactly what they did. They buy a distressed company that is out of options . They then sell off all property to a subsidiary that they own and rent it back. They then start cutting everything a little at a time to keep profits at a target rate, they don't want to do it to fast if they can get a good cash flow but they will keep cutting it down to hit their target. When they get to the point that they can't hit that target and the property is worth more than cash flow it is sold off or closed. I watched them do it the last ten years I worked. In newspaper they call them vulture funds and their only adjective is to squeeze out all the value they can and dump them for what they can get.

    Not putting up with all that BS. has been the best part of retiring .
    We go through life trying to make the best decisions we can based on the best infomation we can find, that turns out to be wrong.

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    Quote Originally Posted by Pressman View Post
    Remington is the victim of a corporate raider, they drain the money then leave the company swamped in debt till it cannot survive. The raider is only after the money, nothing else matters.
    This post is spot on. Remington (many readers on this Forum, like myself, have a special fondness for Remington - but they are not alone. Remington is only a drop in the bucket of damage done to Industry and the American Public by what I call the YARVARDS. Yarvard is a slam on the Harvard/Yale/elite Universities that breed 2nd to 12th generation MBA's to rule our businesses and Politicians to Rule our population through Law and Elected positions.

    Being retired, I watch a lot of the Business shows the first 3 - 4 hours many mornings. Amazing how excited the talking heads get about Corporations buying up other companies. Inevitably these are companies that no longer develop new things; they simply buy up patents, destroy creative small businesses through legislative partnership or lawsuits, or as mentioned - buy them up and strip al their assets leaving the bloody business carcass to 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.

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    Mustang, I found a post related to this that explained exactly how it was done. Then forgot where I saw that post.

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    Don't know if this will interest anyone, but Midway has a sale going on for Rem. receivers. That is receivers only.. bolts are available but cost twice as much as the receivers! Still, if one is contemplating becoming a custom rifle make in the future they might want to lay a couple in as a hedge against Remington's possible demise.

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    Boolit Master
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    For our first Christmas, my wife bought me a Remington 788 in .223. One of the finest small bore rifles that I own.

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    Quote Originally Posted by Pressman View Post
    Remington is the victim of a corporate raider, they drain the money then leave the company swamped in debt till it cannot survive. The raider is only after the money, nothing else matters.
    You are right on that one. all of their barrels used to be made here. When the bean counters showed up, they moved the operation down south, with no equipment or experienced operators. Cheaper labor.
    The solid soft lead bullet is undoubtably the best and most satisfactory expanding bullet that has ever been designed. It invariably mushrooms perfectly, and never breaks up. With the metal base that is essential for velocities of 2000 f.s. and upwards to protect the naked base, these metal-based soft lead bullets are splendid.
    John Taylor - "African Rifles and Cartridges"

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  14. #14
    Boolit Grand Master
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    Wal-mart had a sale this past few days. Complete 700 Rem rifles for $239. Savage axis for $124 and Savage wood stocked with 3-9 weaver scope for $189. At one store there was a Henry 44mag for $388, which the clerk said lasted for a few minutes

  15. #15
    Boolit Grand Master


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    It's about time, and I pray there are no bail outs. Remington and associated brands are the only ones hurting, and it is all their fault. As far as I can tell, every other firearm manufacturer, at least in the USA, are booming right now. I guess I shouldn't blame Remington, I should blame the ones who own them. They drug Remington through the gutter, their guns have sucked for something like 15 years now. They brought Marlin into the mix, ran them into the gutter. They bought H&R and flat out closed their doors. I'm sure there are others. They are nothing but a parasite company.

    I'm sure someone will buy a name like Remington, and I hope they go back to being the way they used to be. My eyes are on H&R. Nobody has ever filled that simple, low cost, switch barrel single shot spot.

  16. #16
    Boolit Master FISH4BUGS's Avatar
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    What no one has mentioned is that this might just be a strategy to avoid losing the Sandy Hook Elementary School shooting suit. A number of lower courts have said that they were responsible for the murders because of the nature of the rifle used (Bushmaster) and their marketing (militaristic tacti cool marketing that appeals to weirdos).
    I can only pray that suit is eventually thrown out. Any reasonable person would see that the person is to blame - not the gun. But juries are all broken hearted when it comes to children....murdered....by this weapon of war....etc.
    It also could be that the legal defense costs are going to be so high so there is another reason.
    If they declare bankruptcy, are bought by someone or some other company, and come out a new company, the ongoing lawsuit is against a company that no longer exists.
    I'm sure that whoever buys them will not be buying the liabilities.
    I don't think they are going anywhere.
    Collector and shooter of guns and other items that require a tax stamp, Lead and brass scrounger. Never too much brass, lead or components in inventory! Always looking to win beauty contests with my reloads.

  17. #17
    Boolit Master
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    This is Nothing New In the US Corporate business strategy . When I was working In corporate America, the main trick is to completely Run @ a loss but Yet show a Paperless profit. All major companies learn very quickly to expense all the profit or pay tax on it. This is a loop hole in the tax system for corporate america. Buy new Company Cars, Boats, and other perks to expend the cash rather that pay uncle sam. This is all legal . In simple terms, The guy driving around In his company truck, or leasing one having his company paying For it
    This has been going on for years and nothing going to be done about
    So the next time you see Your Construction pal driving his truck all Over , yes he screwing the government as well. so it's not only big Companies
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  18. #18
    Boolit Master Shawlerbrook's Avatar
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    I grew up in the shadows of the Ilion plant and as a kid drooled over the Remington catalog. That said, Remington died when the Freedom Group took over. They also killed Marlin and H&R/NEF. Thank goodness we still have Ruger, Henry, Kimber and millions of great, old used guns.

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    It's important to note that Remington had enormous debt before Cerberus Capital Management acquired them in 2007.

    Remington was the defendant in multiple lawsuits, some they deserved and some they didn't. They acquired Marlin and several other manufacturers but their debt only increased. They attempted to reduce their production costs by re-locating to less expensive labor markets but that was too late. Their quality plummeted along with their sales volume.

    I don't think Remington is the victim of corporate raiding as much as they as they were a victim of their own mismanagement.
    If Cerberus wanted Remington for its cash, they would have dumped Remington back when Remington still had some cash.

    Bankruptcy isn't necessarily the end of Remington, some companies restructure and survive. Time will tell. They do have some assets and name recognition. In the end, they will make it or not but if there is a demand for a product, someone will step in and produce it.

    American Motors, Studebaker, Packard, Hudson are all gone but we still have automobile manufacturers.

  20. #20
    Boolit Master
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    A couple decades ago I moved to Alaska
    and had no idea which end the bullet came out.
    All I know is what I read here.
    And I thank you.
    Walmart (Fairbanks) had a Rem 700 .223
    nylon stock for $199. Weighs 2.3 pounds.
    Iron sights. I can shoot clays on the burm at 100 yards.
    Can get them at 200 yards, but I am getting old.
    Glass trigger but
    On safe, pull the trigger three times
    bang the butt on the ground
    Take off the safety, will likely drop the pin.
    Bang
    New trigger? No! just don't bang it.
    Love the trigger but
    what were they thinking?
    I keep the rifle for safety lessons
    it won't shoot, bolt open...
    only safety is between your ears.
    Besides, the gun is worthless
    without a new trigger.
    Works for me...
    (My daughter will put in a new trigger
    when she inherits it.)

    Was next to a guy at the cushman range
    he couldn't get his thing to cycle
    cursing jamming cold getting dark
    He says "Do you shoot 223?"
    Yup. "You can have these!"
    Gave me a big box of Wolf
    in a box full of snow
    frozen solid. Won't cycle?
    I couldn't get them apart.
    Dried them, the shellac swelled
    and the Rem 700 just peels it off.
    Makes a mess though.
    Fun gun. More accurate than I am.
    Had a rough bore, but the Wolf helped.
    Remington got the reward they earned.

    Thanks for the forum!

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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