Looks like the deal with the Navajoes fell through. Anyone care to guess about whats in Remington's future?

Remington Arms declares bankruptcy despite surging gun demand | Fox Business

They didn't do themselves any favors by taking on Marlin products and I don't think the Rem 700 trigger issue is out of the picture either.

unless somebody shows up with really deep pockets they are history

I am glad I didn't send my 700 in for the trigger replacement. With the virus and the money problems you may not get them back or at the very least it would take forever. I sure hope they don't go under as they are a part of history and I really like their rifles.

Guess I'd better get with it and buy a good Rem. 700 ... 6.5 Creedmore ... 5R ... yep! Don't want to snooze and loose! Sincerely. bruce.

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Their days are numbered I think...

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Some Might Say.

Another one for the history books. Going to be a huge amount of obsolete long guns out there. Stock up on the parts you might need now.

Ilion plant will be lofts soon.

I'd bet someone, in the end, will buy them out. Just to capitalize on the name; its too well known to just die. Just look at all the other big name gun companies. With the exception of Ruger, all have exchanged hands over the years.

Concentrating on QC, and keeping a slimmed down line of proven sellers like the model 700 rifle, and 870 pump shotgun could prove to be a successful business model for a new owner of the name. Thats if they can acquire it for pennies on the dollar.

Larry

Agree guys. First Winchester, Marlin, and now Remington. Sounds like Ruger and Savage having much better financial times. Been a huge fan of the 1100,870, and 700 from the past but those 710-770 rifles never should have been. Go back to the good old standbys and limit production to the older line.

If you can’t sell guns and make money these days, you couldn’t give away ice water in hades. Probably time to go work for Amazon.

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Possum—The other white meat!

Remington was buried in debt through the @#$% arbitrage take over. The last bankruptcy (2018) removed $775 million in debt. I'm sure they had little capital to work with, and six months ago the gun market was very different.

The name will survive with some form of gun manufacturing. The ammo business will spin off like Winchester.

The NY consortium loaded Remington up with debt by borrowing against their assets, pocketed the money, and then dumped Remington with the poison pill of huge loans attached.
It's easy to start believing the billionaire members of the consortium wanted to destroy the oldest US gun company. They have their profit from the loans that they won't have to repay. It is a nasty business tactic.

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Science plus Art

Remligton was "lost" a long long time ago.
They did not change or adapt to the times. Other than the 870 and 700 they just do not have anything and the 700 caused them problems.
Marlin used to be good as well

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Still Running Against the Wind

Yeah could be right David. I see where FN bought the rights to make Winchester's Model 70. Some of their guns being produced by other makers I tend to forget.

Good video. Very interesting and informative.

There won't be much trouble disposing of the ammunition business. Probably someone will take over the better-selling gun lines. Could be a leveraged buyout in the works.

I have two 700 BDL's, bought them new in the early 80's. 30 06 and a 222, love them both and will never part with them. Sad to see these American icons of the gun world succumb to the race to the bottom. And for reasons I'll never know, the 06 will drive tacks with Remington ammo, but couldn't drive a pie plate with Winchester.

Exactly. It has very little to do with sales or quality. Cerberus saddled the Remington group of gun companies with a ton of debt through financial engineering. Cerberus used Remington to borrow hundreds of millions of dollars that Remington didn't even really get to use, nor needed.

Moving factories to save money on labor obviously didn't help, but realistically they were never going to pay off the debt they were "given."

Cerberus destroyed Remington, end of story.

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Psalm 27:2

It really is baffling just how many issues have plagued the Remington brand over the years, and while I'm usually not into conspiracy theories, it really does make you wonder if someone wanted to legitimately ruin the Remington brand. I don't know why anyone would want to do such a thing, (unless the company was bought out by Nancy Pelosi or something) but I'm not read up on all the crazy laws regarding corporate bankruptcy procedures, so for all I know their may be some way to profit from it via some crazy scheme ala The Producers.

At any rate, I still don't know what they were thinking when they hired Anthony Accitelli a few years back. I mean, they already had some serious quality control problems, then they hired the former CEO of Taurus International, who was in office during the period of time in which their QC was at an all-time low in which several models were recalled due to safety issues, and the company lost millions of dollars in a class action lawsuit, and before that he worked for Colt during a time when their QC was at an all time low, coincidence?

As for their future, I'm not optimistic about it... At least not in the short term. I mean, every company has its hour of darkness so to speak, including Smith & Wesson, but they all tend to change hands and bounce back eventually once someone who actually cares about the brand takes the helm. Hopefully sooner rather than later Remington will be acquired by a company who will devote themselves to restoring faith in the brand by improving QC.

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Shooting Comfort is bilateral.

our governor and his safe act ('13) bs didn't help . they offered to make ventilators for covid.. he bought them from china instead

Geez. That's horrible. I guess he'd rather see Remmington go under.

Remington is dead, after 200 years, it is now in the history books. Destroyed by greedy wall street guys and liberal judges. RIP. Hey, it will just make all those really old Remington go up in price, kind of like the S&W pistols that cost a lot these days.

Overall, I agree with these statements. The ammo business will be spun off, as it's the only thing with any true value as a transferable asset.

The firearms business on the other hand has very little value beyond the trademarks and original product designs. The potential liability from lawsuits of various flavors is significant. Also, the last two or three owners have trashed the reputation of the brand due to lack of quality and originality.

Instead of Chapter 11, the entity should probably sell the ammo business and then declare Chapter 7 for dissolving the assets. This will allow the bankruptcy trustee to sell the trademarks and product designs completely unencumbered from the potential liabilities of any lawsuits. The new owner of those trademarks and designs can start from scratch without anyone with products from the prior entities suing them, since they didn't buy any of the other assets. I'm not a bankruptcy attorney, but that's how I believe it generally works.

Remington has made some "desperate " moves in recent years in an attempt to remain relevant as a firearms manufacturer. Example is the hurried re-introduction of the Model 51 pistol; it was a total bomb. I cherish the "good old days" at Remington and the great guns they made . It will be a sad day to see Remington go.

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John

Hate to lose em too. Own a Model Four, 1100 TB Trap, and a 700 all bought long ago. Functioning has been great to this day. Hoping for a miracle myself.

It's not just Remington that we'll lose... they are going to take Marlin with them, which is a crime. That would leave just Henry as a US lever gun manufacturer.

I hope Marlin gets bought and restored back to it's own company.

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Conrad
SWCA #1830 SWHF #222

This thing of the same idiots being hired by different companies over the years and making the same screw ups every time is a theme across many industries. We lost a nursing college here in the last couple of years and the CEO turned out to have driven several other education companies into the ground. I can only assume that HR sees 20+ years experience and these clowns are hired. The number of businesses broken and people out of jobs is never counted.

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Release the Kraken

...bothers me the most. I don't have any Remington firearms but I like their ammo. Shoot,just making ammo should be a great business to be in now.

Mismanagement? Treating a company like a cash cow? Whatever the reason it sounds like somebody may make out on the deal while a lot of people suffer.

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"He was kinda funny lookin'"