Jump to content
SASS Wire Forum
Sign in to follow this  
John Boy

Remington files for bankruptcy again

Recommended Posts

Posted (edited)

Deleted
 

Edited by John Boy
Delete duplicate post

Share this post


Link to post
Share on other sites

Already posted here:

 

 

Share this post


Link to post
Share on other sites

Didn't think you had seen it, Sawbones.  BTW, your new avatar is hilarious! :lol:

Share this post


Link to post
Share on other sites

I know that gun sales are brisk but are the guns being bought/sold made by Remington? As far as I can see hunting is on a huge down swing compared to what it use to be. The cost to go hunting is getting completely out of line. Fishing isn't cheap any more either. Seems like the gun market now days is directed in a different direction than what it use to be. The big Gun Games now day are mostly "Black" Guns.  

 

Snakebite

Share this post


Link to post
Share on other sites

Doesn't make a lot of sense,  Remington makes an ar and their 870 shotgun sales should be through the roof,  not to mention the 1911 they make and all the ammo.

  • Like 1

Share this post


Link to post
Share on other sites
Posted (edited)

Chapter 11 bankruptcy allows a company to reorganize.  As has been reported, the large conglomerates that have owned Remington have systematically gutted the assets that produced profits. These financial pirates raked off the cream and failed to finance and encourage infrastructural improvements needed to keep the company moving forward!!

Hopefully, the next owner will right the ship and make firearms and ammunition production the priority and have the patience to build for long term profits!

 

In today’s economic environment, it’s more likely that the next purchaser will continue the course that recent predecessors have pursued.  :angry:

 

 

 

Edited by Blackwater 53393
  • Like 2

Share this post


Link to post
Share on other sites
23 minutes ago, Blackwater 53393 said:

Chapter 11 bankruptcy allows a company to reorganize.  As has been reported, the large conglomerates that have owned Remington have systematically gutted the assets that produced profits. These financial pirates raked off the cream and failed to finance and encourage infrastructural improvements needed to keep the company moving forward!!

Hopefully, the next owner will right the ship and make firearms and ammunition production the priority and have the patience to build for long term profits!

 

In today’s economic environment, it’s more likely that the next purchaser will continue the course that recent predecessors have pursued.  :angry:

 

 

 

 

Not sure it'll happen but the Navajo Nation has put in to buy the company.  They tried a few years ago but the judge ruled in favor of letting the creditors take control, Wall Street bankers don't know nuttin 'bout no gunsmithing.  Kind of ironic when you think about it this way, Remington's guns and ammunition were used to fight the Native Americans now it looks like the Native Americans may have the last laugh.  

Share this post


Link to post
Share on other sites
5 minutes ago, Tequila Shooter said:

 

Not sure it'll happen but the Navajo Nation has put in to buy the company.  They tried a few years ago but the judge ruled in favor of letting the creditors take control, Wall Street bankers don't know nuttin 'bout no gunsmithing.  Kind of ironic when you think about it this way, Remington's guns and ammunition were used to fight the Native Americans now it looks like the Native Americans may have the last laugh.  

 

It's not, there was another thread here the other day about it; they withdrew the offer.

Share this post


Link to post
Share on other sites

Remington, besides drowning in debt, is fighting lawsuits of different kinds. They were sued because of the Bushmaster used in the school massacre. And they recently settled for millions in regard to their Rem 700 trigger lawsuit. 

When Remington and Marlin were bound together by the Cerberus Group, Marlin suffered under management/quality control problems but I didn't hear anything about the Remington management.

Share this post


Link to post
Share on other sites

Cerberus Group is a part of the problem!!

  • Like 1

Share this post


Link to post
Share on other sites
3 minutes ago, Blackwater 53393 said:

Cerberus Group is a part of the problem!!

They are the problem.

Corporate pirates.

  • Thanks 1

Share this post


Link to post
Share on other sites
Posted (edited)

I may be a bit off base (perhaps just some resemblance to my Bushmaster)  but I think thet new Black Fly 3.0 short rifle version that can now be had with the new BUG-BEAM BUDDY DEAL  should be a market buster for us old salt's.   The old eyes aint what they used to be anymore but at least I will be a formidable foe for any future home invaders who might enter AND I want have to use my trusty .45s that the wife claims puts them great big holes in the walls!   Who know SASS might even start a new optics catagory for us ole iron sight squinters!! 

BUG-BEAM BUDDY DEALexplanetory

Edited by Slowhand Bob, 24229
explanatory

Share this post


Link to post
Share on other sites

The filing was under Chapter 11 so the business should continue.  I am interested in having parts for my firearms.

Share this post


Link to post
Share on other sites
On 7/29/2020 at 6:44 AM, Blackwater 53393 said:

Cerberus Group is a part of the problem!!

 

Yep, just like the pirates that took out Shopko. They didn't want the company, they wanted the real estate, so they took it over, loaded Shopko up with debt, spun the real estate into its own company and leased it back to Shopko, and then bankrupted Shopko. Bingo! Free real estate

  • Thanks 1

Share this post


Link to post
Share on other sites
23 minutes ago, StirrupTrouble said:

 

Yep, just like the pirates that took out Shopko. They didn't want the company, they wanted the real estate, so they took it over, loaded Shopko up with debt, spun the real estate into its own company and leased it back to Shopko, and then bankrupted Shopko. Bingo! Free real estate

 

EXACTLY!!!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.