Remington Seeks Bankruptcy Protection, Investors to Fund Daily Operations

[Texas10]

Some key investors fled the arms industry after a Remington product was used in the terrible Sandy Hook massacre, Remington is now seeking financing for "debtor in possession" bankruptcy. Unfortunately it's having trouble finding the capital it needs to restructure its 950m debt.

http://www.thefirearmblog.com/blog/2018/02/08/remington-financing-bankruptcy/

[Stumpkiller]

That's a pity. Even though their pistols are worthless it is a US arms maker since 1816. Always like their M700.

NY Governor (Emperor) Cuomo will show no mercy. He's big time anti-gun.

[Philf]

Need more people that are not on his teat to vote him out

[Stumpkiller]

Good luck with that.

The township I live in doesn't contain as many people as one HUD Public Assistance high rise.

4,870 residents (Fredrick Douglas Houses)

https://en.wikipedia.org/wiki/Frederick_Douglass_Houses#/media/File:F_Douglass_NYCHA_Amst_102_jeh.JPG
4542

https://en.wikipedia.org/wiki/Demographics_of_New_York_(state)#/media/File:New_York_Population_Map.png

[J.Baker]

Remember that Remington was planning to leave Ilion, NY and move everything to Huntsville, AL, then Ilion gave them a huge tax abatement so they would keep a factory and some jobs there. Not sure how much stayed and how much was moved to Huntsville, but the last video I saw showed them making 700 receivers and barrels, 870 shotguns and handguns in Huntsville.

[NicfromAlabama]

Remember that Remington was planning to leave Ilion, NY and move everything to Huntsville, AL, then Ilion gave them a huge tax abatement so they would keep a factory and some jobs there. Not sure how much stayed and how much was moved to Huntsville, but the last video I saw showed them making 700 receivers and barrels, 870 shotguns and handguns in Huntsville.

I think Alabama gave them over $68 million in incentives to locate in Huntsville..........$38 million was cash.

http://www.al.com/business/index.ssf/2014/02/alabamas_incentive_offer_to_re.html#comments

[243LPR]

I don't understand, I guess because they make guns they don't qualify as "too big to fail" ! Come on Trump,bail them out!

[Robinhood]

How do you get that deep in debt if you were selling guns. In the last 10 years they old more guns than the previous 30(I'm thinking) Did Savage, Ruger and Howa put that much of a hurt on them?

[Phranque]

Did Savage, Ruger and Howa put that much of a hurt on them?

This, combined with the fact that Remington's quality control went straight down the crapper. Many great choices out there at equal or better (at least competitive) prices for the quality... add Tika and Bergara to that list. I've got better than a half-dozen bolt actions in the safe, and not a single one of them is a Rem.

[243LPR]

I used to be a die hard Remington and Chevy fan,not any more.

[Robinhood]

I used to be a die hard Remington and Chevy fan,not any more.

:o LOL

[243LPR]

Not too sure about baseball and apple pie anymore either.

[Robinhood]

How can apple pie be bad?...unless you are diabetic.

[yankeedog]

Id like to see "Marlin" bought and become its own company again, concentrate on a few key models and live off the name and shows they attend.
My favorite brand is "Savage".

[yobuck]

There wont be any bailouts for anything firearms related, and there wouldn't have been any for the auto industry either if not for the union influence. Too much good competition from too many areas for them i suppose.
Used to be if you wanted to build a gun you bought a Rem and used the action, or bought a new 700 action.
Look at all the custom actions alone there are today, along with others like Savage, Howa, etc.
Everything has a beginning and an end, and it just might be the end for Remington.
They need somebody like a Leslie Edelman of Kimber to take over and clean house, sort things out and start over.

[Robinhood]

The union helped the banks get a bail out too. Damn unions!

[yobuck]

The union helped the banks get a bail out too. Damn unions!

Well that's another story, the bigger ones gobbled up all the little ones, til they got gobbled up, and the small town savings and loans got greedy and became banks till all that hit the wall. So now whoe's left? and who left it all happen?
Remember, the gubmint bailed out his majesty, the arrogant Sir David Rock a feller for his brilliant scheme with the 3rd world.
Why didn't they leave that bastard fail?
But Chase lives on, and it aint because their pro union.
We will never fully drain that swamp.

[deerhunter99]

What they did to Marlin was awful, turned them right in to junk, what Remington will look like on the other side no one knows !!!