No ammo from Remington, say it ain't so!!!!!!

B

bamaranger

New member
A pal whose comments I respect has told me tonight that Rem has mothballed the Loanoke ammo factory, and that the shotshell line and centerfire rifle Core-Lokt line is no more! I'd heard/read they were having money trouble (again) but seems as if they could sell all the ammo they wanted given the current state of affairs.

Whose got more details?
 
This is their second bankruptcy. In the face of unprecedented demand... Points to far bigger problems in operating the company.

Sent from my Pixel 3 XL using Tapatalk
 
People are wanting to sell a kidney to buy ammo. If Remington Ammo is having difficulty making ends meet it points to skimming off the top before and after sales.
 
No skimming. The Freedom Group saddled them with a huge debt when they spun them off a few years back. High volume businesses like ammo manufacturers rely on lines of credit to order supplies to keep operating, so those operations are more heavily affected by their cash shortage.
 
They will be auctioning off the entire company in parts mid-September. Current info suggests that the Ammo plants and the Barnes Bullet division will go as a unit and have several interested bidders. Somehow I do not think the Ilion facilities will be that desirable due to possible EPA cleanup costs; but the plants in NC and AL are new, so hopefully they will garner some interest
 
Companies run by bean counters, this sometimes happens. Company I worked for years ago closed up with a plant full of work to do. Bean counter/owner's son ran the company, only took him a couple years to run it into the ground.
 
pete2 said:
Companies run by bean counters, this sometimes happens. Company I worked for years ago closed up with a plant full of work to do. Bean counter/owner's son ran the company, only took him a couple years to run it into the ground.
Click to expand...
No, it wasn't the bean counters. At least, not the bean counters in Remington. Scorch has it right. The Freedom Group bought Remington in a highly-leveraged deal. They then turned around and performed a feat of financial legerdemain (sleight of hand), swapping Remington's money for the Freedom Group's debt, leaving the Freedom Group cash rich and Remington at the bottom of a huge economic pit without even a teaspoon to try to dig themselves out.
 
pete2 said:
Companies run by bean counters, this sometimes happens. Company I worked for years ago closed up with a plant full of work to do. Bean counter/owner's son ran the company, only took him a couple years to run it into the ground.
Click to expand...
That happened to me once as well, I always thought the right size company was about 200 people, run by the original owner and never let the stock go public.
 
OK

Yeah I get it, they have money problems, again. One poster has a hearsay report there are cars in the parking lot.

My question however ........"is Loanoke producing ammo or not?"
 
"However, if the plant is open 24 hours a day, the somebody should give them a call..

Phone: (501) 676-3161"

Done!!. The plant is operating as we speak.
 
Last edited:
The Lonoke factory is still open and operating. However quite a few people have been laid off. There is a pending purchase offer that expires September 27th. If it is doesn't go through, the plant will likely close.
 
I was by the plant this afternoon. The parking lot was about 2/3 full. The grounds were still well kept. I heard a few weeks/months ago they had closed down the 3rd shift rimfire line. At its peak the parking lot had been at overflow levels.

Mark(BourbonCowboy) appears to have more recent financial info regarding their future than I do.
 
Looks like JJE has made a $65M offer for Remington's ammo business (link).

JJE also holds Palmetto State Armory, and DC Machine - a major firearms part mfr.
 
Yeah...just heard about that bid. Supposedly, the bidding war closes on the 19th. Curious to see what kind of merger if any PSA and Remington will have
 
You must log in or register to reply here.
Back
Top