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Thread: Remington Seeks Bankruptcy Protection, Investors to Fund Daily Operations

  1. #1
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    Remington Seeks Bankruptcy Protection, Investors to Fund Daily Operations


    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/2...ng-bankruptcy/
    Banning a gun will not solve what is a mental health crisis inflamed by incendiary rhetoric on social and television media. The first amendment in this case is less precious and more likely the causal factor than the second amendment.

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    Team Savage Stumpkiller's Avatar
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    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.
    "They couldn't hit an elephant at this distance." Last words of Gen. Sedgwik

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    Team Savage Philf's Avatar
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    Need more people that are not on his teat to vote him out
    Savage TH in .223 & 308, VT .308, BVSS 223
    Philf

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    Team Savage Stumpkiller's Avatar
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    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)


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    "They couldn't hit an elephant at this distance." Last words of Gen. Sedgwik

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    Administrator J.Baker's Avatar
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    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.
    "Life' is tough. It's even tougher if you're stupid." ~ John Wayne
    “Under certain circumstances, 
urgent circumstances, desperate circumstances, profanity provides a relief denied even to prayer.” —Mark Twain

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    Quote Originally Posted by J.Baker View Post
    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....html#comments

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    Team Savage 243LPR's Avatar
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    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!
    "An armed society is a polite society"
    "...shall not be infringed" What's the confusion?

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    Basic Member Robinhood's Avatar
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    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?

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    Basic Member Phranque's Avatar
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    Quote Originally Posted by Robinhood View Post
    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.

  10. #10
    Team Savage 243LPR's Avatar
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    I used to be a die hard Remington and Chevy fan,not any more.
    "An armed society is a polite society"
    "...shall not be infringed" What's the confusion?

  11. #11
    Basic Member Robinhood's Avatar
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    Quote Originally Posted by 243LPR View Post
    I used to be a die hard Remington and Chevy fan,not any more.
    LOL

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    Team Savage 243LPR's Avatar
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    Not too sure about baseball and apple pie anymore either.
    "An armed society is a polite society"
    "...shall not be infringed" What's the confusion?

  13. #13
    Basic Member Robinhood's Avatar
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    How can apple pie be bad?...unless you are diabetic.

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    New Member yankeedog's Avatar
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    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".

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    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.

  16. #16
    Basic Member Robinhood's Avatar
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    The union helped the banks get a bail out too. Damn unions!

  17. #17
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    Quote Originally Posted by Robinhood View Post
    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.

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    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 !!!

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