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02-09-2018, 01:16 PM
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Join Date: Jan 2008
Posts: 4,331
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Remington files for bankruptcy
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02-09-2018, 01:43 PM
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Banned
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Join Date: Nov 2009
Location: High River, AB
Posts: 10,788
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That is not good news. I certainly hope that this fine old firearm maker can find a way out of this. It would be sad to loose them.
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02-09-2018, 01:59 PM
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Join Date: Sep 2008
Location: Parkland County, AB
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Remington ,as we once knew it, has been gone for some time. The Remington trademark, is owned by Cerberus Capital Management .. an investment firm and is managed by the beancounters within that organization. I wonder if Cooper will find it's way out of this.
It's sad to see an old Icon of the firearms Industry slide in to oblivion as we are not too likely to see a re-emergence of Remington this time around .
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When applied by competent people with the right intent, common sense goes a long way.
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02-09-2018, 02:08 PM
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Join Date: Jan 2012
Location: 204
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Someone will continue making Remington firearms.
Their name is worth too much to let it fade away.
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"I like to quote my own quotes" ~ Dewey Cox
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02-09-2018, 02:12 PM
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Banned
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Join Date: Nov 2009
Location: High River, AB
Posts: 10,788
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Quote:
Originally Posted by Salavee
Remington ,as we once knew it, has been gone for some time. The Remington trademark, is owned by Cerberus Capital Management .. an investment firm and is managed by the beancounters within that organization. I wonder if Cooper will find it's way out of this.
It's sad to see an old Icon of the firearms Industry slide in to oblivion as we are not too likely to see a re-emergence of Remington this time around .
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I may be out of date on this. But as far as I know, Cerberus dropped Remington like the plague after a school shooting with one of their semi-auto firearms. The acquisition of Marlin was also completed while Cerberus owned Remington. Sad part of it all is that the brand "Remington" was stained by corporate acquisitions by nothing more than investment companies that had no interest in firearm manufacturing quality control. Sad indeed. 
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02-09-2018, 02:20 PM
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Banned
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Join Date: Nov 2009
Location: High River, AB
Posts: 10,788
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Quote:
Originally Posted by Dewey Cox
Someone will continue making Remington firearms.
Their name is worth too much to let it fade away.
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I agree. Perhaps FN might grab them as they have Winchester and Browning. Wouldn't be a bad thing. 
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02-09-2018, 02:40 PM
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Join Date: Sep 2008
Location: Parkland County, AB
Posts: 4,257
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Quote:
Originally Posted by gitrdun
I may be out of date on this. But as far as I know, Cerberus dropped Remington like the plague after a school shooting with one of their semi-auto firearms. The acquisition of Marlin was also completed while Cerberus owned Remington. Sad part of it all is that the brand "Remington" was stained by corporate acquisitions by nothing more than investment companies that had no interest in firearm manufacturing quality control. Sad indeed. |
The Sandy Hook shooting was the beginning of their more serious woes .Sales for Rem fell 25 % after that incident. Quality control, or lack of, didn't help either. It is Cerberus that has filed. I think Ruger, Marlin and Cooper are involved as well.
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When applied by competent people with the right intent, common sense goes a long way.
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02-09-2018, 02:44 PM
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Join Date: Jan 2012
Posts: 2,443
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Quote:
Originally Posted by Dewey Cox
Someone will continue making Remington firearms.
Their name is worth too much to let it fade away.
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I submit that with $ 950 million of debt, any real worth has already been monetized, ('and its long gone!').
Some corp will purchase the name brand(s) and current patents and copyrights,
and the manufacturing machinery and misc assets,
but what are they really worth? $ 950 million?
do the brands add real value to any product?
are there not other manufacturers currently producing new actions that are very similar clones of common Remington designs?
IIRC, Remington's biggest sellers are AR and 1911 designs and shotguns, similar also made by many other brands.
If the Remington brand would cease to be available, would many notice?
or care very much?
Does anyone really need 'genuine' Remington parts?
IMHO, The existing products will continue their service life relatively unchanged.
Good Luck, YMMV.
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02-09-2018, 03:00 PM
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Join Date: May 2007
Location: Calgary
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Maybe they'll start building Lemingtons off shore.
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Former Ford Fan
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02-09-2018, 03:30 PM
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Join Date: May 2009
Location: near Calgary
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Dont recall where I read it
A few months ago someone wrote an article on how Remington stock had been leveraged beyond current acid test values with some speculating they were trying to bump the liabilities up to spin off the division for profit after taking all the equity out.
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 a hunting we will go!!!!!!
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02-09-2018, 09:42 PM
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Join Date: Jul 2016
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But, what about the dinosaurs?
On a more serious note, this is the latest example of corporate malfeasance by capital investment firms sabotaging a reasonably sound business enterprise. First it was the lawyers, then along came the beancounters, now it's the MBA's all lining up to make their mark and get their bonuses before the cadaver is discarded in favour of fresher pickings.
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.” - Thomas Sowell
“We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did.”- Thomas Sowell
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02-10-2018, 12:16 AM
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Join Date: Apr 2013
Location: West central AB
Posts: 1,545
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Quote:
Originally Posted by Big Sky
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Isnt that the strangest part. Ive read Ruger, S&W, etc have had sales drop off.
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Faster horses, younger women, older whiskey, and more money.
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02-10-2018, 03:18 AM
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Join Date: Dec 2008
Location: Near Edmonton
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This is the conclusion and inevitable outcome caused by the path Remington was on for a long time, at least 4 years. Cerberus has been looking for a buyer for at least 6 years and no one was dumb enough to buy this turkey. This company was in BIG financial trouble when gun sales were booming. Between recalls, lawsuits and the current slowdown, bankruptcy was the only possible outcome.
Ruger is none to healthy right now either, they are sitting on a ton of inventory. If you owned Ruger or Smith ans Wesson stock I hope you sold before they dropped over 50%.
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02-10-2018, 08:03 AM
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Join Date: Jul 2010
Location: North of Cochrane
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You fellows seem to know a lot about this.
What happened here. I know that greed always plays a role but after that? Who do they owe the money to?
Does the military still buy "American" I woulds think so?
Did they think that sales would keep increasing? Was it the gun manufacturing or ammunition sales that dropped?
You guys always know more more than the news outlets. Thanks
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"The well meaning have done more damage than all the criminals in the world" Great grand father "Never impute planning where incompetence will predict the phenomenon equally well" Father
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02-10-2018, 01:20 PM
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Join Date: Jan 2008
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Yup
Don't think they even submitted the 870 for testing to the military so they went with Mossberg. Oh well the Express version nowadays woulda just jammed.
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02-10-2018, 01:33 PM
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Join Date: May 2007
Location: Calgary
Posts: 5,144
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I remember when cerberus acquired Remington, some tin-foilers claimed it was an attempt to kill the company by anti-gunners in the monster corpaoration. Maybe they were on to something. Who's next, Savage?
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Former Ford Fan
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02-10-2018, 11:21 PM
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Join Date: Oct 2009
Location: Medicine Hat
Posts: 4,247
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Quote:
Originally Posted by qwert
I submit that with $ 950 million of debt, any real worth has already been monetized, ('and its long gone!').
Some corp will purchase the name brand(s) and current patents and copyrights,
and the manufacturing machinery and misc assets,
but what are they really worth? $ 950 million?
do the brands add real value to any product?
are there not other manufacturers currently producing new actions that are very similar clones of common Remington designs?
IIRC, Remington's biggest sellers are AR and 1911 designs and shotguns, similar also made by many other brands.
If the Remington brand would cease to be available, would many notice?
or care very much?
Does anyone really need 'genuine' Remington parts?
IMHO, The existing products will continue their service life relatively unchanged.
Good Luck, YMMV.
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Maybe they just need to call themselves Bombardier ??? problem solved.
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Trades I would interested in:
- Sightron rifle scopes, 4.5x14x42mm or 4x16x42mm
especially! with the HHR reticle. (no duplex pls.)
- older 6x fixed scopes with fine X or target dot.
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02-11-2018, 02:41 PM
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Banned
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Join Date: Jun 2011
Location: Gods Country
Posts: 1,706
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Quote:
Originally Posted by 6.5 shooter
Maybe they just need to call themselves Bombardier ??? problem solved.
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Ooooooooooooo.......
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02-13-2018, 10:34 AM
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Banned
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Join Date: Dec 2013
Posts: 901
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Seems like every hot topic results in a banning. I must be missing something.
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02-13-2018, 12:05 PM
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Join Date: Jan 2008
Posts: 4,331
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that's
Democracy in action.
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02-13-2018, 05:05 PM
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Join Date: Sep 2008
Location: Parkland County, AB
Posts: 4,257
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Here's a link to some Remington recent history .. what a tangled web !
http://www.nytimes.com/2011/11/27/bu...rys-giant.html
__________________
When applied by competent people with the right intent, common sense goes a long way.
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05-02-2019, 11:21 PM
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Join Date: Jul 2016
Posts: 3,422
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continuing saga
How "financial engineering" by Cerberus Capital Management bankrupted Remington Arms. This article provides a brief glimpse into the shady world of "private equity" firms.
Burn them all.
https://www.nytimes.com/interactive/...=pocket-newtab
__________________
“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.” - Thomas Sowell
“We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did.”- Thomas Sowell
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05-03-2019, 12:01 PM
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Join Date: Jul 2016
Posts: 1,827
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Crappy deal fir the workers,,, but good for us collectors since it will drive the price up...
Dosen't really matter since the next buyers will run it the same way most likely...
Hare to Day,,, Goon tomorrow. Ha
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