Remingtons Future?

[malph]

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.

 

[LittleCooner]

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.

 

[Borderboss]

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.

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.

 

[OLDSTER]

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.

 

[mauser9]

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.

 

[Gunhacker]

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.

 

[LVSteve]

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.

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.

 

[rwsmith]

I think the ammo.....

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.

...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.