Remington To File Bankruptcy

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Remington To File Bankruptcy

Postby gilly32 » Tue Feb 13, 2018 7:28 am

Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, said on Monday it had reached a deal with its creditors to file for Chapter 11 bankruptcy to slash its $950 million debtload.



U.S. President Donald Trump has said he will “never, ever infringe on the right of the people to keep and bear arms.” Since Trump’s election victory in November 2016, American Outdoor Brands Corp has lost almost two thirds of its stock market value, while Sturm Ruger & Company Inc has fallen by a quarter. By comparison, the S&P 500 has increased by a quarter in the same period.



https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy/u-s-gunmaker-remington-reaches-deal-with-creditors-to-file-for-bankruptcy-idUSKBN1FW23Q
"The right to keep and bear arms is rooted in both self-defense and insurance against government’s propensity toward tyranny. The right pre-existed the Constitution. Thus, the Second Amendment is not its source. The right to keep and bear arms is natural and inalienable; the Second Amendment protects it, and Congress has no legitimate power to restrict it." - Senator John Cornyn (R., Tex.), as reported in the National Review on July 4, 2016

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Re: Remington To File Bankruptcy

Postby JediSkipdogg » Tue Feb 13, 2018 10:08 am

Obama flooded the market with fear. Under trump there is no fear so there is no need. Under Obama I probably bought one a year. Under Trump, besides one for my wife, I haven't even contemplated buying anything new. There's only so much a market can handle.
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Re: Remington To File Bankruptcy

Postby Brian D. » Tue Feb 13, 2018 11:04 am

Remington has also been putting out some new models that are not selling well, because they don't work right. Along the way they merged with Marlin and have screwed them up too.
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Re: Remington To File Bankruptcy

Postby Mr. Glock » Tue Feb 13, 2018 7:00 pm

Brought to you by the same private equity group that screwed up Chrysler and
got bailed out by .gov.

Really, shipping bad 870s? I’ll bet even HiPoint could make a trouble free 870. How can you muck up assembling an 870?

And don’t get me started on what they did to Marlin.

NOT the Trump slump, it was idiots in charge.
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Re: Remington To File Bankruptcy

Postby JimE » Tue Feb 13, 2018 8:08 pm

These capital/equity/investment firms only exist to make money.
This is the classic example of how to load a corporation with debt, and make money doing it. I don't pretend to understand the workings of such firms, or the legality & morality of what they do, other than it is a death knell for any company when the accountants run the show.
H&R no longer exists.
Para Ordnance was absorbed, and no longer exists except to make the Remington 1911's.
The Remington R51 is an absolute joke, as is a lot of the new Marlin rifles....they might as well send a pre-paid shipping label with each one for warranty work.
Then you have the fiasco with Remington's triggers on the 700's, which has been ongoing for decades.
Bushmaster and DPMS really don't make anything better than any other mid-line AR builders, and there a lot of those.
AAC is nowhere near as prominent as they were.
Remington shotguns haven't been a problem, ( for the people I work for) except a few cheesy parts are not a good as the old ones. Most of the shooties I see going in for repair, are older, worn, and not necessarily maintained well. But I have seen that happen to Benelli's & others as well.
They have pretty much willingly put themselves into the same box as Colt was in the mid-90's. How well they survive is yet to be seen.
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Re: Remington To File Bankruptcy

Postby High Power » Fri Feb 16, 2018 11:09 am

JediSkipdogg wrote:Obama flooded the market with fear. Under trump there is no fear so there is no need. Under Obama I probably bought one a year. Under Trump, besides one for my wife, I haven't even contemplated buying anything new. There's only so much a market can handle.


At my age, I don't plan to buy any new firearms. Rather than new guns my purchase/wish list is:

1) Weapon upgrades. The stocks on the Remington 700s that I do have are obsolete. I plan on buying aluminum chassis systems with 10-round magazines. I've already replaced the stock triggers with Timney triggers. Given the way some so-called precision rifles are made today, I'd rather opt for buying a barreled action then adding everything else myself.

I've already accomplished some upgrades on the AR-15s with after-market triggers :D , optics :D :D and stock improvements :D :D :D .

My .22 LR target rifles are going through similar upgrades and improvements.

My .22 pistols have gone through a lot of changes with trigger work, new barrels, magazine releases, etc... As with the rifles, if I were going to purchase another .22 target pistol I would buy a used one then replace everything on it because so much of the OEM work is trash.*

2) Ammunition. Purchase or reload lots of it. Without it, your gun is just another club/closet queen or wall ornament.

3) Magazines. Field & Stream had a sale on MFT AR-15 magazines a while back. I got a package of 10 for around $100. Even if you buy more than you think you will need, there is always a chance that one or more magazines may break or not function properly. It helps to have extras.

*Speaking of .22 LR guns, if I were a young person these days, I would not consider the purchase of .22 LR guns. The availability of ammunition changes every time the POTUS changes parties. If I were starting over again, I'd concentrate on center-fire guns and use the airguns for economical target practice. Even with the shortage of .22 LR ammunition, I never had any trouble getting pellets.
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