The End for the Remington?

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  • SA1941
    • Feb 2017
    • 546

    The End for the Remington?

    Sad to see the legendary maker of the 03a3 go out this way. I hope they can at least file bankruptcy because the alternative is unthinkable.

    https://www.reuters.com/article/us-r...-idUSKBN1FT04C
  • RC20
    Banned
    • Sep 2012
    • 620

    #2
    I don't know that its fatal, many times you retire you poor financial decisions and start without that overhead. Possibly incorporated into another firm.

    Its interesting that Cerbus seems to be not involved despite its being a controlling entity of some sort. Get to enjoy the cake without the fallout?

    Industry has been due for a falling out, too much production and too few buyers.

    Comment

    • Smal
      Banned
      • Jan 2011
      • 918

      #3
      So much debt coming due ,I sure hope they can pay it or be able to file bankruptcy and operate under the protection it can get then so they can get everything back operating profitable again, Geesh I wonder how they ended up like that ,sure seems intentional so they could maybe file for BR easier and operate under that protection maybe or someone at the helm was not watching the piggy bank so well down there.

      Comment

      • tmark
        • Oct 2010
        • 3404

        #4
        I think they need a Lee Iaccoca as CEO. Is not Remington diversified? Razors, etc????

        Comment

        • SA1941
          • Feb 2017
          • 546

          #5
          Originally posted by Smal View Post
          Geesh I wonder how they ended up like that ,sure seems intentional so they could maybe file for BR easier and operate under that protection maybe or someone at the helm was not watching the piggy bank so well down there.
          That's what happens when the Freedom Group buys you out. They have been responsible for ruining other companies as well. They just buy em up, use em up, and discard them. Terrible shame. Of course, the botched launch of the R51 pistol didn't help. I got one and am happy with it. But that is another subject for another time.

          Comment

          • chuckindenver
            • Jan 2012
            • 2950

            #6
            havnt been Remington since 1995

            Comment

            • pkost
              • Dec 2014
              • 426

              #7
              Originally posted by tmark View Post
              I think they need a Lee Iaccoca as CEO. Is not Remington diversified? Razors, etc????
              No, not the same Remington. The razor, typewriter and computer company (and 1911A1 manufacturer) was Remington Rand which became Sperry Rand and I have no idea what it is named now.

              Comment

              • moose
                • Feb 2012
                • 1347

                #8
                Realize that this is not just Remington.
                This is Remington Outdoor. The holding company that used to be called freedom group.
                So this includes.
                Remington Arms
                Remington UMC ammo
                Bushmaster
                DPMS
                Marlin
                H&R Firearms
                And a number of smaller companies
                (Barnes, Para, Parker, Tapco, etc)

                None of their brands has been worth crap (except the ammo maybe) for some time now

                Marlin.... they tried to take all the old machines to Ilion and hire new people to work on them. Didn't work as it turned out the machines were kinda old and worn and the replacement people didn't know the little tweakes and hand fitment to make the guns right.
                Bushmaster... Moved to Ilion and drove into the ground. Thankfully they left the old factory and the owner restarted the company as Wyndham Weaponry.
                DPMS... same deal.
                H&R shell of what it was.. (Former M1 and M14 maker)

                One thing someone will snap up is the old UMC (Remington Ammo) group in Arkansas. The cash generated to maybe to try and save the rest.
                US Nylon Field gear 1967 to 2005
                http://inrd.gotdns.com/alice

                Comment

                • MajWatz
                  • Oct 2009
                  • 580

                  #9
                  Originally posted by tmark View Post
                  I think they need a Lee Iaccoca as CEO. Is not Remington diversified? Razors, etc????
                  Iacocca was fired from Ford for the deadly Pinto fiasco.
                  Iacocca when Chrysler CEO, and bought AMC, promised to keep nation's oldest assembly plant which was an AMC Plant open for at least another 3 years, saving 5,000 jobs. Instead, he shut it down in 1 year, laying off those workers. And as for people thinking Iacocca saved Chrysler, it was the Federal Government's bailout that saved it. And look who owns it now... FIAT!
                  Iacocca wrote how he would make his first millions by hook or crook.
                  Yeah, we need another Iacocca.
                  Last edited by MajWatz; 02-12-2018, 02:44 PM.
                  Stephen A. Watz Sr.
                  MAJ USA(RET)
                  (1968-1994)
                  Senior Member (1572) of old CMP forum since 31 JUL 2006
                  M1CC - Member No: 239
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                  NRA Life Member, TSRA Life Member, ROA Life Member, AUSA Life Member, MOAA Life Member, American Legion
                  NRA Certified Pistol Instructor/Range Safety Officer
                  Texas CHL/LTC

                  Comment

                  • JS Esq.
                    • Mar 2017
                    • 89

                    #10
                    I read elsewhere they've secured $100 million in DIP financing, so the filing is only a matter of time - but it's for restructuring, not liquidation.

                    Understand, this is all about debt. Their debt load has long been known to be unsustainable absent unrealistic revenue growth, and the first big chunk comes due next year.

                    Comment

                    • 10thmountain
                      • Apr 2016
                      • 586

                      #11
                      So Said this in my local forum....I would make 2 Guns if I was Remington. Mil Spec USGI 1911's and brand new 1903's . I just fixed Remington. Send me a check.

                      Comment

                      • SA1941
                        • Feb 2017
                        • 546

                        #12
                        UPDATE:

                        Good news tonight!

                        https://www.cbsnews.com/news/remingt...or-bankruptcy/

                        Comment

                        • motorcop
                          • Dec 2010
                          • 556

                          #13
                          Originally posted by MajWatz View Post
                          Iacocca was fired from Ford for the deadly Pinto fiasco.
                          Iacocca when Chrysler CEO, and bought AMC, promised to keep nation's oldest assembly plant which was an AMC Plant open for at least another 3 years, saving 5,000 jobs. Instead, he shut it down in 1 year, laying off those workers. And as for people thinking Iacocca saved Chrysler, it was the Federal Government's bailout that saved it. And look who owns it now... FIAT!
                          Iacocca wrote how he would make his first millions by hook or crook.
                          Yeah, we need another Iacocca.
                          Wow!!! Someone that knows a little of the history regarding Chrysler's buyout of AMC. I am impressed!! What old Lee Iajerko did to AMC was an absolute shame and disgrace to everyone that worked at American Motors. I was a relatively new trooper and had to walk a line at AMC trying to help keep peace between all parties when the buyout took place. Lots of promises were made by good old Chrysler and none of them were kept. When it was all over good old Lee got exactly what he wanted for Chrysler and that was ownership of the Jeep name and holdings. Some smoke and mirrors were brought into Kenosha and a token AMC/Chrysler work force built Mopar junk a** small engines for a couple of years and then Chrysler/Lee shut the place down. A lot of people got hurt on that buyout but Lee and Chrysler came out smelling like a dozen roses. Ask me why I won't even ride in a Chrysler today let alone own one.

                          Rick H.

                          Comment

                          • rubicon762
                            • Aug 2011
                            • 635

                            #14
                            Colt goes bankrupt about every 15 years, and they are still around...Remington will likely survive. Maybe they will come back stronger.
                            Camp Perry is not "a place for experts". It's a place to help YOU become an expert.
                            "A strong body makes the mind strong. As to the species of exercises, I advise the gun... Let your gun, therefore, be the constant companion of your walks." Thomas Jefferson to Peter Carr, 1785.
                            Read "War is a Racket" by MG Smedly Butler, USMC. He knew war and was awarded the Medal of Honor twice. You can find it online.

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