Looks like Remington is toast

[Raoul]

 

https://www.bloomberg.com/news/articles/2018-02-12/cerberus-s-remington-will-cede-control-to-lenders-in-bankruptcy

Edited February 12, 2018 by Raoul

[Garufa]

Just for some perspective, Remington Outdoor Company includes the following brands:

• Remington
• Marlin
• DPMS
• Bushmaster
• H&R
• Advanced Armament
• The Parker Gun Co.
• Barnes Bullets
• Tapco
• Storm Lake
• Dakota Arms
• TimberSmith
• Nesika

Edited February 12, 2018 by Garufa

[No_0ne]

Nothing new there.  The reorganization will result in the creditors getting pennies on the dollar for their bonds and loans, the company will be re-formed under a different corporate structure without the billion dollars in debts of the old company.  The holding company will take on new debt obligations, issue new bonds and other types of debt, and in a few years bring the whole cycle around again.  Like the owners of Colt, the Cerebrus firm has mastered the art of corporate theft ...

[Grand Torino]

Gee, who would’ve ever seen that coming. Maybe someday these companies will learn to quit selling to conglomerates who only care about the money. I’m all about making money, but damn.

Don't quote me but if I remember right Remington was sold to a conglomerate a while back. Who in turn bought up the others as well. Freedom Group or whatever they were called. 

I’m sure it is normal to an extent but considering everything they put out is a turd, recalls out the wazoo and low sales numbers. That’s a lot to make up. 

They were sold in the early 90's by DuPont for $300 million. When they sold to Freedom/Cerberus in 2007 it was $119 million. That’s a #### load less. They’ve been on a downward spiral for decades. 

[Garufa]

8 minutes ago, Grand Torino said:

Gee, who would’ve ever seen that coming. Maybe someday these companies will learn to quit selling to conglomerates who only care about the money. I’m all about making money, but damn.

 

Don't quote me but if I remember right Remington was sold to a conglomerate a while back. Who in turn bought up the others as well. Freedom Group or whatever they were called. 

I’m sure it is normal to an extent but considering everything they put out is a turd, recalls out the wazoo and low sales numbers. That’s a lot to make up. 

They were sold in the early 90's by DuPont for $300 million. When they sold to Freedom/Cerberus in 2007 it was $119 million. That’s a #### load less. They’ve been on a downward spiral for decades. 

What’s with the grey text, you trying to accelerate our blindness?  

[Grand Torino]

1 minute ago, Garufa said:

What’s with the grey text, you trying to accelerate our blindness?  

You know.....not being a computer whiz I have no freakin' idea how that happened. A few days ago on a different forum the same thing happened. Maybe my laptop is running low on ink. 

[btq96r]

Just for some perspective, Remington Outdoor Company includes the following brands:

• Remington
• Marlin
• DPMS
• Bushmaster
• H&R
• Advanced Armament
• The Parker Gun Co.
• Barnes Bullets
• Tapco
• Storm Lake
• Dakota Arms
• TimberSmith
• Nesika

They should drop DPMS, Bushmaster, and Tapco faster than GM dropped Chrysler, Pontiac, and Saturn for their '09 bankruptcy restructuring. I'm sure some of the others wouldn't be a huge loss either. Marlin can stay.

Sent from my Nexus 5 using Tapatalk. OhShoot very much likes to know when we're using Tapatalk.

[Grunt67]

Hate to see this. Always been a Rem. fan. Oh, well.........

[Fourtyfive]

Maybe time to snatch up one of these.....

https://www.remington.com/handguns/model-1911-r1/1911-r1-10mm-hunter

[JeffL]

16 hours ago, Fourtyfive said:

Maybe time to snatch up one of these.....

https://www.remington.com/handguns/model-1911-r1/1911-r1-10mm-hunter

At $1300 you've got a lot more faith in Remington than I do.

[DaveTN]

20 minutes ago, JeffL said:

At $1300 you've got a lot more faith in Remington than I do.

I have plenty of faith in Remington, but more in Kimber when it comes to 1911's.  They have it in stainless for a grand.

http://www.kimberamerica.com/stainless-target-ls-2/

https://grabagun.com/kimber-10mm-stainless-target.html

 

[hipower]

5 minutes ago, DaveTN said:

I have plenty of faith in Remington, but more in Kimber when it comes to 1911's.  They have it in stainless for a grand.

http://www.kimberamerica.com/stainless-target-ls-2/

https://grabagun.com/kimber-10mm-stainless-target.html

 

Lord knows I'm not a raving fanboy for Kimber. But I'd have to go with it over the Remington, even if the price was equal.

[Raoul]

I bought one the R-1s when they came out. It's damn fine handgun that's never given me a problem.

[hipower]

2 minutes ago, Raoul said:

I bought one the R-1s when they came out. It's damn fine handgun that's never given me a problem.

I'd agree on some of the first R1s, and even some current models. But the scuttlebutt rumors(for what they are worth) talks of poor QC on them and the new R9(?).

[Raoul]

Yeah I don't hear much good on the R-9 either.

[peejman]

1 hour ago, hipower said:

Lord knows I'm not a raving fanboy for Kimber. But I'd have to go with it over the Remington, even if the price was equal.

Doesn't matter either way. They all work fine once you pack them full of Wilson Combat parts. 

[DaveTN]

I’m not a businessman and don’t play one on TV. But I have common sense and know quality guns when I see them. Remington is the top dog on Bolt Action rifles and Shotguns, not so much on handguns. Smith and Wesson is the top dog on handguns, not so much on rifles and they don’t have shotguns anymore. Unless Remington is in so much financial trouble the big boys can’t get them out; I think this is a common sense match.

[Fourtyfive]

On 2/13/2018 at 12:25 PM, JeffL said:

At $1300 you've got a lot more faith in Remington than I do.

https://www.gunbroker.com/item/746115863

Buy now $940, saw one around $700 a month ago....