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Remington Files Bankruptcy Again

Splib

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From the other board - http://forum.accurateshooter.com/threads/knew-this-was-coming-from-wsj-07282020.4012122/

Dated July 27 2020 Surely ths has been posted here ??

Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.

Remington, which supplies weapons for hunting, shooting sports, law enforcement and the military, sought chapter 11 protection and will try to sell its business at a time when civil unrest and worries about personal safety have driven firearm sales to record highs.

The chapter 11 petition in the U.S. Bankruptcy Court in Decatur, Ala., marks Remington’s second restructuring since 2018, when it filed for chapter 11 and transferred ownership to investors including Franklin Resources Inc. and JPMorgan Chase & Co.

Remington has been searching for potential buyers and was in talks to sell itself out of bankruptcy to the Navajo Nation before negotiations collapsed in recent weeks, :lmao:leaving the company without a lead bidder, or stalking horse, in place.
 

Texas97

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They're idiots. Have been for many years. I'd bring over my long winded rant from the other OSR but I don't go there anymore. Remington deserves this.
 

Roc Doc

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Yup. Last few Shot Shows they had nothing new. Maybe a few me-too products but no innovation. And how they handled the 700 (and other models), issue is shameful.
 

flecker

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Marlin was an amazing company prior to it's acquisition by Remington. The list of idiotic moves by Remington is growing by the year.
 

Splib

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Shame the Pie Face didn't acquire it then . . .. .
 

Pony_Driver

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Cerebus Capital bought Remington, Marlin, DPMS and a few other firearms companies. It's too bad Remington has gone down this path. Given the state of the world economy I'm not sure how to buy such a company and make it profitable.
 

Gatorgrizz27

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Gun sales have been off the fucking charts during several periods recently. An “investment group” bought a well respected brand with a ton of history, churned out a bunch of shit products, and people quit buying them.

Not that long ago, Remington was up there with Browning in terms of reputation and a guy would be ashamed to admit that he could only afford a Savage.

Now they just just want to slap the name on jackets and shovels, and I’m not really sure if I’d like to see them return to glory or just go the way of Pontiac.
 

Texas97

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Gun sales have been off the fucking charts during several periods recently. An “investment group” bought a well respected brand with a ton of history, churned out a bunch of shit products, and people quit buying them.

Not that long ago, Remington was up there with Browning in terms of reputation and a guy would be ashamed to admit that he could only afford a Savage.

Now they just just want to slap the name on jackets and shovels, and I’m not really sure if I’d like to see them return to glory or just go the way of Pontiac.

Bullshit, Remington was in the shitter for many years before freedom group bought them in 2007. They were already $250 mil in debt at that time. I'm certain the investment group ownership didn't help, but Remington had been making ridiculously idiotic decisions for 30-40 years before that.

Remington failed spectacularly on their own. Freedom group just came in and played "Weekend at Bernie's" with their rotting corpse. That's it.
 

aron82

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It's a good thing that the sale to the Navajo didn't go through. They were talking about making so called "smart guns".

Once smart guns are for sale to the public several states have laws that will severely restrict access to the non smart guns.

Remington has been circling the drain for years, sad to see it happen. Only have 2 remington firearms and they are both 30 + years old.
 

Lee

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Hey, they made a good typewriter.

I was going to brag on their personal grooming line specifically hair clippers too, but Wiki says they sold that division in '79, it's changed hands a few times and is currently owned by Rayovac. Apparently my Remington clippers that have cut my hair for the past 12+ years, are Remington in name only. Learn something new every day.
 

Provience

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Marlin was an amazing company prior to it's acquisition by Remington. The list of idiotic moves by Remington is growing by the year.

i'm curious if this will lead to a breaking up of sorts and if marlin has the chance to become enthusiast owned again. i'd love for them to be kicking ass and doing well without the bullshit attachment issues
 

DR. SMASHER

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"Here are the lucky winning bidders for Remington’s assets:
  • Remington Firearms: Roundhill Group (Real Estate Investors)
  • Dakota Firearms: Roundhill Group (Real Estate Investors)
  • Remington Ammo: Vista Outdoor (Federal Ammo)
  • Barnes Bullets: Sierra Bullets
  • Marlin Firearms: Sturm, Ruger & Co.
  • Bushmaster Firearms: Franklin Armory Holdings
  • Tapco (parts): Sportsman's Warehouse, Inc.
  • DPMS Firearms: JJE Capital Holdings (Palmetto State Armory)
  • H&R Firearms: JJE Capital Holdings (Palmetto State Armory)
  • AAC Silencers: JJE Capital Holdings (Palmetto State Armory)
  • Parker Shotguns: JJE Capital Holdings (Palmetto State Armory)
  • Stormlake Barrels: JJE Capital Holdings (Palmetto State Armory)"
Site link.
 

DR. SMASHER

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Marlin was an amazing company prior to it's acquisition by Remington. The list of idiotic moves by Remington is growing by the year.

Well now it seems that Marlin is owned by Sturm, Ruger. So that should be an improvement.
 

aron82

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Dang... I miss the Bushmaster of old. They made some kick butt firearms (AR's) back in the day.

Bushmaster of old is now Windam weaponry. As soon as the noncompete was up the guy who owned Bushmaster restarted it as Windham.

Home -Windham Weaponry Online. AR-15 Manufacturer - Official Site

This was a brilliant move on his part, other than loosing brand recognition. Bushmaster has been a lightning rod for lawsuits since Sandy hook.

Franklin is gimicky with things like binary triggers and their non rifled barrel short ar.

I hope PSA and Ruger do right by the brands they bought.
 

flecker

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Bushmaster of old is now Windam weaponry. As soon as the noncompete was up the guy who owned Bushmaster restarted it as Windham.

Home -Windham Weaponry Online. AR-15 Manufacturer - Official Site

This was a brilliant move on his part, other than loosing brand recognition. Bushmaster has been a lightning rod for lawsuits since Sandy hook.

Franklin is gimicky with things like binary triggers and their non rifled barrel short ar.

I hope PSA and Ruger do right by the brands they bought.

I actually have a Windham AR... bought maybe 4 years ago. I put a sig red dot on top of it and some troy sights. Quality build for sure on Windham's part. It's easily one of the nicest AR's I have. Runs Aluminum mags, P-mags and eats pretty much anything ammo wise. Not finicky at all.
 

aron82

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I actually have a Windham AR... bought maybe 4 years ago. I put a sig red dot on top of it and some troy sights. Quality build for sure on Windham's part. It's easily one of the nicest AR's I have. Runs Aluminum mags, P-mags and eats pretty much anything ammo wise. Not finicky at all.

Don't have anything from Windham, generally because I prefer to roll my own, but I wouldn't hesitate to grab one if it was shat I wanted. Brother has a 450 bushmaster that he uses for pig duty to great effect.

The freedom group bought out bushmaster and really only wanted the name, so they moved all the production to NY from Maine. They left the facility and the employees. So as soon as the owners non compete was up, he started Windham in the same facility with the same people while remington catches all the lawsuits thrown at Bushmaster.

I wonder if this will have any effect on the BS lawsuit over one stupid add they had.
 

Cod

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Hopefully they'll come back and be better than before.

I still have the itch for a Marlin 45-70 ... just haven't scratched it yet.
 

flecker

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Hopefully they'll come back and be better than before.

I still have the itch for a Marlin 45-70 ... just haven't scratched it yet.

I had an old Marlin lever action in 30-30.... GREAT rifle, sorry I sold it. I replaced it years later with a stainless Remlin. One of the worse rifles I ever had. The action was never smooth, had failure to feed issues (for a lever action? da fawk?), and I had a tough time getting rid of it. Marlin name has a way to go before I will ever trust them again.
 
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