Remington files bankruptcy(Chapter 11 - reorg)

T

TXAZ

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Anyone out there NOT have a Remington, particularly in their younger years?
While they have had some problems for some time, it looks like the economy finally took them under over the past year. They filed Chapter 11, so they can attempt to reorganize.

Do you believe they will come out?
Will they move their facilities to a more gun friendly location?
What will their new portfolio of guns look like?
 
Hard to believe after 200 years or so, they are having issues. In the years I grew up and for many afterward, there was a Remington shotgun, Deer rifle and odds were, a .22 rimfire in everyone's closet. Would really hate to see the name disappear, altho I would assume someone would pick it up if things went really sour.
 
My personal opinion is it would be a sad day if they don't come back. I've used their rifles for 40 years and still have most of them.

I know others feel they deserve to go under but every product I've owned with Remington on it has been a good one.
 
buck460XVR said:
Hard to believe after 200 years or so, they are having issues.
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To me, their long history makes it MORE believable that they are having issues.

Long-standing and highly-successful corporations often make the mistake of concluding that their present business model and/or product line will continue to succeed for the foreseeable future, but they are caught off-guard by innovative competitors, and they fail to adequately adapt. History is littered with the corpses of such companies. :(
 
Do you believe they will come out?
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Yes. The name has value.

In the 1980s Colts filed and was purchased for something like five million usd if memory serves.

GM filed and people panicked as if the physical and intellectual assets would disappear, but that wasn't going to happen.

It's possible that Remington will emerge much better.
 
This isn't the first time in Remington's history that they have been in financial difficulty - around 1888 the Remington family lost control of the business due to financial problems, and there have been other problems since. Hopefully the exit of Cerberus will lead to better times for Remington, the key will be if they can find a friendly and competent buyer.
 
Cerberus Capital Management, which acquired the company in 2007 as gun sales began to boom, tried to sell it less than a week after the shooting.
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Yes. Remington filed for bankruptcy. But, Remington's decline and fall had more to with Cerberus Capital Management, which owned and operated it for more than the last 10 years. "Capital Management" are investment firms looking to buy companies cheap, and, and make money on it. That business model does not help stable companies continue to operate smoothly. The opposite happens. They bring in a team of MBA types who do not know the business, and tell then to improve the business and make money NOW. When they fail, you get bankruptcy. It has very little to do with Remington products or old line management.

There are also social, political, economic, and regulatory factors and trends. It is tough to be a gun maker today.

I do firmly believe the Remington "brand" (which is owned by someone) will continue. The actual manufacturing may be off-shored or outsourced. The basket of companies/brands (Bushmaster, etc), may also vary.
 
It ain’t the economy. If you haven’t been able to make a killing over the past five years, you don’t deserve to be in business.
 
"...Colts filed and was purchased..." The Colt name has been owned by Colt Industries for eons. It was Colt Firearms that had financial issues. General Dynamics is owned by Colt Industries too. They make the Canadian version of the M-16/M4, the ammo for 'em and the Dinky toys known as LAV II's, used by our Army and your's.
"...a team of MBA types..." There are virtually no American companies that are not being operated by MBA's any more. MBA's don't really know much about anything. Most went from being a business degree undergrad to grad and directly into the MBA program without ever having actually worked at doing anything. The typical MBA doesn't know how to do anything.
GM filed and got bailed out by government on both sides of the border. Most of GM's issues were caused by the unions though. Up here, they were and are getting $35 plus per hour for unskilled work and they keep demanding more.
For some daft reason, The United Mine Workers of America is the union at Remington. That's as stupid as the CAW representing workies in Wal-Mart. That happen in Quebec until Wally World closed the store after the workies voted to unionise.
 
zukiphile said:
The [Remington] name has value.
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I agree, but...
Marco Califo said:
There are also social, political, economic, and regulatory factors and trends. It is tough to be a gun maker today... I do firmly believe the Remington "brand" (which is owned by someone) will continue. The actual manufacturing may be off-shored or outsourced.
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Agreed as well.

The current anti-gun fervor could make this a VERY bad time to be a bankrupt, debt-riddled gunmaker without substantial LE and defense contracts to serve as a backup plan if the U.S. commercial market goes sour.

Remington may wind up like the gunmaking side of Winchester: effectively ceasing to exist as an independent functioning entity, and being reduced to a brand name applied to products made by others.
 
I'm not surprised that this has happened, it was bound to with the way things have been at Remington since Freedom Group/Cerberus took over. Gotta love it when a bunch of guys in suits and ties who can't thread a bolt down think they know more about manufacturing than guys who've done it for decades.

The name will live on, it's one of the most well known firearm labels in America.

I'm not sure if they're going to move operations, but outsourcing is likely. I can see barrels being moved to Taiwan or Japan.

If they can restructure, I don't see them coming out with out of the ordinary guns for years. The 700, 870, Wingmaster, Nylon 66, etc. Problem is that with how many 870's and 700's are out there, I don't understand why one would buy a new one when the used ones that are decades old, made by superb craftsmen, are a dime a dozen.

I think Remington will figure something out or someone will buy them out, but if they don't bring something new to the table... I think in 10-20 years we could be looking at the end.
 
Most companies fall due to bad leadership.

The name is very strong, hopefully someone will buy it and turn it around like what happened to Smith and Wesson.
 
hard to believe

Remington had just opened a state of the art facility in Huntsville, AL. I was hoping to tour. AL is plenty gun friendly and the political atmosphere is right too. Pun intended. I believe we'll see them back.
 
The company is in debt to the tune of one billion dollars. I heard on the news that ownership of the company is going to its creditors. They're trying to reduce its debt by $700 million.
 
Remington will return. Hopefully they bankrupt out of their trigger liability issues and return as the innovative company they used to be.
 
I glanced at the Turners Outdoorsman weekly ad, and it seems Remington is now competing with Savage, in the low cost, plastic stock, adjustable trigger bolt gun market with the #783 with scope for $329. Sounds like these are made at the new facility in Alabama?? Anyway, 30-06 was "temporarily unavailable", but 308, 223 and 7mm Mag were available at the same price. 300 magnum was not on sale.
https://www.turners.com/remington/remington-783-30-06springfield-280535
Personally, I am sticking with Savage in rifles, just as I like Glocks in pistols, because they all work the same.

And the $1 billion debt came arm-in-arm with Cerebus. I understand Cerebus now walks away with nothing.
 
For the last 20 years Remington has had a low price line. The problem is that their low price also means low quality. For Savage, low price means high quality but uglier than ugly. Now Remington has low price, low quality, and its even uglier than bottom end Savage.
 
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