Spike Camp

Remington outdoor company bankrup!

Re: Remington outdoor company bankrup!
« Reply #30 on: February 11, 2018, 05:09:12 AM »
Remington got into the AR clone business which has fallen on hard times, too. Trump's election certainly influenced gun sales. We lost the best 2 gun sales people ever in Obama and Clinton!   ;D

Re: Remington outdoor company bankrup!
« Reply #31 on: February 11, 2018, 06:59:43 AM »
When my bolt handle fell off of my BDL Deluxe back in 1980 I was done with Remington. They fixed it and it snapped again. My gunshop fixed it and sold it for me. I bought a Howa.

Re: Remington outdoor company bankrup!
« Reply #32 on: February 11, 2018, 07:44:35 AM »
I have a friend who bought a brand new 1187 20 gauge last year and it won't cycle any ammo no matter if it's high brass, low brass, OO Buck, or even slugs.  He sent it back to Remington and when he got it back two months later they said it was fixed but when he tried it he had the same results.  He shipped it back a second time and was told they're, "sending it to a shotgun expert in Chicago" to have him look at it and is still waiting to hear from them.  Now I have to say my reaction when he told me that and still is, what the heck they made it and they should be able to fix it why do they need a shotgun expert from Chicago to tell them what's wrong with something they built.  This is a shining example of the things that got them to bankruptcy court. 
Nothing is better than a Weatherby, big bore magnum, or a Colt.

danno50

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Re: Remington outdoor company bankrup!
« Reply #33 on: February 11, 2018, 09:17:04 AM »
Heres a recent short report from Reuters Intl.

 The Washington Times - Thursday, February 8, 2018
"Remington Outdoor Company Inc. has “reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy,” Reuters reported Thursday evening, citing “people familiar with the matter.”
According to those sources, the debt-ridden company missed a payment on those obligations this week and is seeking “debtor-in-possession financing” that would let the company continue operations once it went bankrupt.

But that may be difficult.
According to Reuters, some credit funds and banks are balking at the move because one of the company’s guns was used in the Sandy Hook school massacre in Connecticut.
“Remington, which is controlled by buyout firm Cerberus Capital Management LP, was abandoned by some of Cerberus‘ private equity fund investors after one of its Bushmaster rifles was used” in the 2012 shooting, Reuters wrote.

Citing credit-ratings agencies, Reuters reported that “Remington’s capital structure is unsustainable given its weak operating performance and significant volatility in the demand for firearms and ammunition.”
One of the issues with Remington is that fears of gun-control legislation under President Barack Obama have receded and “stockpiling” purchases, just in case, have accordingly declined, hurting the entire gun industry."



                                                                               
DosEquisShooter

Re: Remington outdoor company bankrup!
« Reply #34 on: February 11, 2018, 10:22:30 AM »
The potential failure of "Big Green" is pretty much a surprise to me. The question in my mind is what other big firearm related company is next.  I'm sure with the rush on the gun market being over and some big companies spent or borrowed a bunch to expand and meet the Obama induced demands, who's next?   :)

dubyam

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Re: Remington outdoor company bankrup!
« Reply #35 on: February 11, 2018, 11:18:43 AM »
I have had some fear that companies like Hornady, Nosler, and others who geared up, built up, and expanded operations to meet the panic demand will see some hard times, missed revenue numbers, and layoffs. I hope it doesn't come down to inability to pay debts and have operating capital (which is, apparently, where Remington is).

I do find it curious that supposedly Remington is having trouble getting refinancing because of Bushmaster. That makes me want to figure out what banks are screwing Remington because of the actions of some nutjob, and start a drive to deny these a-holes gun owners' business. It negatively impacted Target when people decided their bathroom politics wasn't worth shopping there. I suspect we could negatively impact some banks if we closed accounts, credit cards, and such. Wouldn't take much to negatively impact the bottom line of a bank or two. If only 3-5% of customers left them en masse, it would cause the bank to miss revenue and profit numbers for the year, I suspect.
I believe this is a practical world, and in it I can count only on what I can earn.  Therefore I believe in work, hard work. - The Auburn Creed
The older I get, the less stock I place in what men say, and the more I place in what men do. - Andrew Carnegie

Re: Remington outdoor company bankrup!
« Reply #36 on: February 11, 2018, 11:40:37 AM »
Aren't banks , finance companies and stock brokers "too big to fail" ?   Didn't we just go through that one?   ;D     The California Teacher's union pension fund pulled out of Cerberus.  Didn't we , as consumers of gun related products, vote with our dollars Remington into this spot as well?  Quality issues and California politics has them circling the toilet?   :)

Re: Remington outdoor company bankrup!
« Reply #37 on: February 11, 2018, 12:55:41 PM »
I am unfortunately not surprised. Remington's quality has slipped significantly over the past 15 years.

They can EASILY survive in today's market, but their product offerings have been unfocused for a long time.

Reduce and improve the 700 line, keep the Versa-Max, be a product innovator.

Not complicated...
JK

Re: Remington outdoor company bankrup!
« Reply #38 on: February 11, 2018, 01:37:43 PM »
The only comparison to this situation with Remington in my experience was when AT&T, that I worked, for was broken up into the "Baby Bells".  Our management , that was Bell Atlantic and now Verizon, were totally concerned with the loss of the long distance  business and how they could show a profit and keep their jobs.  Their idea was to push the labor end to work faster with cheaper supplies.  They forgot about doing right by the customer, the single point of any business !   The "repeat" rate, the number  of dispatches it took to solve the customer's problem, went through the roof!  Remington is going to need new ownership, management and a number of years to reestablish quality fire arms and the reputation.   :)

224KING

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Re: Remington outdoor company bankrup!
« Reply #39 on: February 11, 2018, 06:06:51 PM »
Don't know if they'll pull thru this time.They could possibly go 7 and then a court will sell off any parts someone will buy and the rest will stop circling the toilet and go down the drain.
Sorry... Yesterday was the last and final day for any and all complaints whatsoever.

I try to avoid temptation unless I can't resist it.

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Re: Remington outdoor company bankrup!
« Reply #40 on: February 11, 2018, 08:05:59 PM »
I read a short informative article just a week or so ago about new items shown at the SHOT show.  The article gave basic information on the rifles, and suggested retail prices.  Then I read the comments after the article.  If more gun owners were like the majority of the comment writers, NO rifle manufacturer would stay in business.  You should have heard many of them mocking the price of the new Weatherby carbon rifle.  "Who is stupid enough to pay that kind of money for a rifle, my old tree o tree British shoots under an inch and that's all I need."  Stuff like that.  It kind of pissed me off.  Sure, most of us only need one deer rifle, one shotgun, and one twenty-two.  We could also live off of tap water, tuna fish, wieners, live in a shack, and poop in a five-gallon bucket in the morning.  And we have all heard the phrase, "Beware of the man that only needs one rifle."  That is all fine and good, but I myself like the "joy of ownership."  I do not brag about the number of rifles I have/had, but if someone asks me if I have a Weatherby, I enjoy saying, "Yes, I have four of them."  I worked for them, I saved, and I OWN them, and a few other nice firearms.  I think that if a person wants to own a $4K Weatherby, that is GREAT.  Maybe one day, I'll make enough money and I'll buy one for each of my Sons, and Vanguard .240's for each of my Grandsons.  If someone wants to own five hundred guns, I am happy for them, that they are able to do that.  Multiple gun, owners, keep the gun manufacturers in business.  People that own three guns, and probably inherited all three of them, do not.  Yes, all I need is my first deer rifle, that Mother and Dad gave me; a used early Remington 700 ADL with a 4x Weaver on it, chambered in 6mm Remington.  They selected it together, Mother had saved up the money, bought it used for $100 back in the day.  And no amount of money could buy that rifle from me.  But I enjoy and take pride now, in the gun collection that I have acquired over the past forty years, that survived the flood.  We salvaged most of them.  To me, it is sort of an "achievement."  "I wanted it, I worked for it, I bought it."  That is a privilege we have as Americans.  A person cannot do that in most countries.  I and most of us on Weatherby Nation, do the same, and have done our part to keep many gun manufacturers in business.  It is too bad that the fellow with the single "tree o tree" Enfield, and those other negative comment writers, didn't buy a few more Remingtons and Marlins over the years.  MM

Re: Remington outdoor company bankrup!
« Reply #41 on: February 12, 2018, 04:33:07 AM »
Para is also owned by Remington outdoors.   :)

Re: Remington outdoor company bankrup!
« Reply #42 on: February 12, 2018, 06:09:56 AM »
When my bolt handle fell off of my BDL Deluxe back in 1980 I was done with Remington. They fixed it and it snapped again. My gunshop fixed it and sold it for me. I bought a Howa.
     A friend of mine had the same thing happen with his new Remington. Before he ever shot it the bolt worked fine, after the first shot the bolt got a little tight, each shot after that it got harder to cycle. After the 6th shot the bolt handle came off in his hand. Great quality control!
I love the smell of deer guts in the morning, it smells like...VICTORY!

Re: Remington outdoor company bankrup!
« Reply #43 on: February 12, 2018, 06:10:47 AM »
The older Remington action is what most custom rifles are built with

That and commercial and milsurp Mausers.
JW

Re: Remington outdoor company bankrup!
« Reply #44 on: February 12, 2018, 01:59:09 PM »
Federal has been laying off employees, too. I won't be surprised to see others follow Remington Outdoors.  Maybe this will create another run on guns and ammo! LOL!