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gxer

U.S. gunmaker Remington files for bankruptcy

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 gxer    483

U.S. gunmaker Remington files for bankruptcy

(Reuters) - Remington Outdoor Co Inc [FREDM.UL], one of the largest U.S. makers of firearms, filed for bankruptcy protection on Sunday to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control.

The company’s chief financial officer, Stephen Jackson, said in court papers that Remington’s sales fell significantly in the year before its bankruptcy, and that the company was having difficulty meeting requirements from its lenders.

https://www.reuters.com/article/us-remington-bankruptcy/u-s-gunmaker-remington-files-for-bankruptcy-idUSKBN1H204F

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 Siriusly    387
Posted (edited)

I would start producing my own firearms if I were in the U.S. Still fully legal while it lasts.

 

Edited by Siriusly

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 COBO Member    4,276
Posted (edited)

Read this elsewhere this morning and then see this posted here. Somebody tell me I'm not losin' it! Because I remember replying to basically the same story like 2wks ago.

IMHO, Remington should've stuck with what they know best...bolt-action hunting rifles and ammo. But nooo. They jumped into personal defense handguns.

They started making 1911 clones <yawn>. Then they rushed their R51 to market waaay too soon. Abject failure resulting in bad reviews across the internet. Went back to the drawing boards and apparently the next-gen works but of course that was too late.

Since then, they've produced a couple more <yawn> polymer pistols (day late, dollar short) and sales have tanked on them as well.

I'd hate to see them go belly up. Colt went through the same process long ago when they lost the military contract for the M-16 plus quit making some of the finest revolvers on the planet.

 

Edited by COBO Member

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 Danno512    161

Remington is kinda pricey for their stuff, just a little bit more for ammo, little bit more money for hardware... they aren't benelli or kimber. I just looked through the local sports store inventory / deals. This was the only bargain I noticed on the first 3 pages or so. 

https://www.academy.com/shop/pdp/remington-1911-45-auto-centerfire-pistol#repChildCatid=478018

Anyway I think they haven't got any military contracts in a long time. I seem to recall carrying / qualifying with a Remington 12 gauge at some point though.  Also it looks like maybe they absorbed ruger, Taurus and S&W but didn't trim any dead weight. 

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9 minutes ago, COBO Member said:

Read this elsewhere this morning and then see this posted here. Somebody tell me I'm not losin' it! Because I remember replying to basically the same story like 2wks ago.

IMHO, Remington should've stuck with what they know best...bolt-action hunting rifles and ammo. But nooo. They jumped into personal defense handguns.

They started making 1911 clones <yawn>. Then they rushed their R51 to market waaay too soon. Abject failure resulting in bad reviews across the internet. Went back to the drawing boards and apparently the next-gen works but of course that was too late.

Since then, they've produced a couple more <yawn> polymer pistols (day late, dollar short) and sales have tanked on them as well.

I'd hate to see them go belly up. Colt went through the same process long ago when they lost the military contract for the M-16 plus quit making some of the finest revolvers on the planet.

 

Model 700 is one of the best rifles ever made.

Check your "where do bad guys get guns?" thread. I was up late and remembered a good one!

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 COBO Member    4,276
Just now, 2many secrets said:

Model 700 is one of the best rifles ever made.

Check your "where do bad guys get guns?" thread. I was up late and remembered a good one!

Just as the 870 has set the standard for pump shotguns around the world.

Word got out on the Korean navy base that I was a "firearms enthusiast". Walking back to the office one day, one of their gate guards yelled at me and raised his shotgun over his head. He was proud to be armed with a "Lemington eight seven zero!"

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 Full Throttle    2,058

(IMHO)  Remington done this to themselves.  Quality has been down for years and the prices went up.  Also as another poster said, they should have stayed with shotguns and rifles.   

Another thing is the ammo, overpriced as far as I,m concerned. And their is better quality ammo cheaper elsewhere.   Sad to see this for Remington, but like I said.

I think they brought it upon themselves.

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16 minutes ago, Full Throttle said:

(IMHO)  Remington done this to themselves.  Quality has been down for years and the prices went up.  Also as another poster said, they should have stayed with shotguns and rifles.   

Another thing is the ammo, overpriced as far as I,m concerned. And their is better quality ammo cheaper elsewhere.   Sad to see this for Remington, but like I said.

I think they brought it upon themselves.

Most of the stuff is chambered in NATO (if ordered that way). Meaning a lot of options. I only know about their rifles.

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 Seeker22    838
47 minutes ago, Danno512 said:

Remington is kinda pricey for their stuff, just a little bit more for ammo, little bit more money for hardware... they aren't benelli or kimber. I just looked through the local sports store inventory / deals. This was the only bargain I noticed on the first 3 pages or so. 

https://www.academy.com/shop/pdp/remington-1911-45-auto-centerfire-pistol#repChildCatid=478018

Anyway I think they haven't got any military contracts in a long time. I seem to recall carrying / qualifying with a Remington 12 gauge at some point though.  Also it looks like maybe they absorbed ruger, Taurus and S&W but didn't trim any dead weight. 

Buying a Remington 1911 is akin to buying a Smith & Wesson 1911.

Dance with the one what brung ya.

All these manufacturers had a really good product and chose to listen to some airhead in management and strayed away from their primary market. This has been going on for years. I would love to track down names, voting records, and agendas of those airheads. I think it would paint an ugly picture. Somebody needs to find it and make it go viral.

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 Seeker22    838
38 minutes ago, COBO Member said:

Just as the 870 has set the standard for pump shotguns around the world.

Word got out on the Korean navy base that I was a "firearms enthusiast". Walking back to the office one day, one of their gate guards yelled at me and raised his shotgun over his head. He was proud to be armed with a "Lemington eight seven zero!"

:nodl:

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 phxsparks    1,584
7 hours ago, gxer said:

U.S. gunmaker Remington files for bankruptcy

(Reuters) - Remington Outdoor Co Inc [FREDM.UL], one of the largest U.S. makers of firearms, filed for bankruptcy protection on Sunday to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control.

The company’s chief financial officer, Stephen Jackson, said in court papers that Remington’s sales fell significantly in the year before its bankruptcy, and that the company was having difficulty meeting requirements from its lenders.

https://www.reuters.com/article/us-remington-bankruptcy/u-s-gunmaker-remington-files-for-bankruptcy-idUSKBN1H204F

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