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Thread: Gunmaker Remington to file for bankruptcy

  1. #1
    Senior Member (too much time on their hands) airbud7's Avatar
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    Gunmaker Remington to file for bankruptcy

    U.S. firearm manufacturer, Remington Outdoor Company, said it will file for Chapter 11 bankruptcy protection, but stay in business throughout the process.

    "Difficult industry conditions make today's agreement prudent," said Jim Geisler, Remington's executive chairman, in a statement released by the company on Monday.

    The company has been dogged by falling sales after one of its rifles was used in the Sandy Hook Elementary School massacre of 2012.

    The restructuring will help the company to cut its debt by around $700 million and inject $145 million in new capital into its different units.

    Remington said its business operations will not be affected by the restructuring.

    Remington is owned by Cerberus Capital Management, but according to reports, once the restructuring process is over, the private equity firm will no longer own the company.

    Remington could not immediately be reached to comment on its relationship with Cerebus in future.

    Link: http://www.foxbusiness.com/markets/2...ankruptcy.html

  2. #2
    Administrator BarryBobPosthole's Avatar
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    Bullshit on the reason why, there have been record gun sales for like the past few years. Every mass shooting caused a spike in sales from fears of regulation. Any company that couldn’t make it that market is just badly run.

    I love Remmy, and I hope they come out of this better. I know it isn’t a gun brand for snobs.

    BKB
    Viva Renaldo!

  3. #3
    Senior Member (too much time on their hands) airbud7's Avatar
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    I was thinking the same thing Barry..."Bullshit on the reason why"

    I did notice at walmart the other day Remington cost a lot more than off brand shotguns?

  4. #4
    Senior Member (too much time on their hands) Big Skyz's Avatar
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    I call BS on Sandy Hook as well. Remington is struggling in sales because they produce crap and have for a long time. I used to be a die hard Remington fan. I couldn't buy enough of their guns. Then somewhere in the 90's their quality control all but evaporated and they haven't produced a firearm of any kind that I have wanted to buy since. They make junk and those that care about quality rifles, handguns, and shotguns know it. I hate to see them file for bankruptcy, but I doubt anyone that follows the gun industry closely is surprised in the least. I'm actually surprised it didn't happen sooner.

  5. #5
    Administrator BarryBobPosthole's Avatar
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    Quote Originally Posted by airbud7 View Post
    I was thinking the same thing Barry..."Bullshit on the reason why"

    I did notice at walmart the other day Remington cost a lot more than off brand shotguns?
    I don’t follow prices as I don’t trade or buy guns much any more. But you may have hit the nail on the head. Remmy was always to me an ‘everyman’ gun. I hunted a ton with an old 870 (I have four in my safe) and my buddy hunted with a Win 1912, both of which were all we could afford and both of us fell in love with. My two favorite rifles are Remmys. One an old 742 and the other a model 700. Both were pretty cheap cost wise. Sure, there are higher quality guns by other manufacturers, but it would be hard to find a better value than Remington.

    I noticed them being overpriced first on their ammo. Way too expensive for what you get. I guess everyone can afford Brownings and Tikas now and there is no place for a gun that can double as a boat paddle when you need it.

    BKB
    Viva Renaldo!

  6. #6
    Member Trav's Avatar
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    Well I think they also took it in the shorts from Savage and Ruger, you can get rifles from either for less that are much better quality wise. Also when was the last time they came up with any innovative products.
    ď No kingdom can be secured otherwise than by arming the people. The possession of arms is the distinction between a freeman and a slaveĒ

    James Burg, An Enquiry into, Public Errors, Defects and Abuses 1775

  7. #7
    Administrator LJ3's Avatar
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    Same reason Gibson, the guitar manufacturer is about to go tits up.
    If we all threw our problems in a pile, and you saw everyone else's problems-- you'd take yours back.

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    Member Penguin's Avatar
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    Hate to hear this, at one time I was a Remington fan. Long time ago...

    We've all changed with the times and with age. Remington did too. At one time they were an energetic bunch and could be counted on to come up with a new design every decade or so that would make their rifles or shotguns less expensive to produce but also decent quality. I haven't heard much of that stripe out of them for a long time.

    But you have to admit that the market changed dramatically since we were yonkers. Who among us would have been caught dead in the deer woods with an AK? Aside from the occasional 742 who even used auto rifles back then? Military rifles are in vogue. Mountain rifles cut a significant portion of the market off from the traditional Remington/Winchester market as well. Then add getting bought out by a bunch that specialized in draining capital from a company, declaring bankruptcy, and walking away from the corpse with millions in fees? Not good...

    Ah well. I haven't bought a rifle since 2008. Haven't been tempted since then. I doubt I'll ever wear that one out.

    Will

  9. #9
    Administrator BarryBobPosthole's Avatar
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    Y’all certainly know better than me as its been years since I’ve bought a Remington product, probably 2000.
    I think my thoughts about Remington stem more from nostalgia probably.
    And should I get the bug to buy, I’ll probably avoid that brand.
    Like Red Ball rubber chestwaders. I think of them and smile but I wouldn’t be caught dead in a pair of those deathtraps these days.

    BKb
    B
    Viva Renaldo!

  10. #10
    Administrator Captain's Avatar
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    Quote Originally Posted by Trav View Post
    Well I think they also took it in the shorts from Savage and Ruger, you can get rifles from either for less that are much better quality wise. Also when was the last time they came up with any innovative products.
    Ah.... versa-max is the shit!
    Little to no recoil on a 3 1/2 inch mag round.
    Stack 2 3/4, 3 and 3 1/2 inch round in the mag anyway you want to the gun will chamber them and shoot whoever goes in the chamber with recoil about the same on each.
    I’ll take a 700 action over ANY brand out there.
    And I’m the smart one in this group...
    A Government that pays people to do nothing destorys their willingness to do anything!

  11. #11
    Senior Member (too much time on their hands) airbud7's Avatar
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    Jarrett Rifles over in Jackson uses a 700 for a lot of there custom rifles...

    http://www.jarrettrifles.com/

    They made Dale Earnhardt Sr and Neil Bonnett one of a kind rifles back in the day...

  12. #12
    Senior Member (too much time on their hands) airbud7's Avatar
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    Dam they high!

    Guns.jpg

  13. #13
    Administrator Captain's Avatar
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    I know Kenny personally. He has built six rifles for me over the years
    A Government that pays people to do nothing destorys their willingness to do anything!

  14. #14
    Senior Member (too much time on their hands) Big Skyz's Avatar
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    The reason Captain, Kenny Jarrett, and myself use Remington actions for custom rifles is because none of the rest of the rifle is worth keeping. The trigger need to be replaced. The barrel is a crap shoot anymore. It used to be the standard of accuracy for factory rifles, not anymore though. The stocks they use for their rifles are worse than junk when it comes to the synthetic rifles. They don't even make for an adequate paddle. The wood stocks are slightly nicer, but usually poorly inletted. On top of that, any company that produces that abortion they call the Remington 710 shouldn't be allowed to show their face in public. I imagine Savage was thrilled to see Remington do that as they could no longer be called the ugliest rifle action out there.

  15. #15
    pUMpHEAD SYSOp Thumper's Avatar
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    Where's Gunther? This SHOULD draw him out of hiding! What happened with him anydamnway? Did I miss something? Or did I simply forget? Did he just run oft?
    "Travel is fatal to prejudice, bigotry and narrow-mindedness" - Mark Twain

  16. #16
    Administrator BarryBobPosthole's Avatar
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    He’s hiding somewhere in a big lump of armpit hair.

    The best description I ever heard of him was he was an armpit with eyes. It still makes me lol to this day.

    BKB
    Viva Renaldo!

  17. #17
    Member Trav's Avatar
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    Quote Originally Posted by Big Skyz View Post
    The reason Captain, Kenny Jarrett, and myself use Remington actions for custom rifles is because none of the rest of the rifle is worth keeping. The trigger need to be replaced. The barrel is a crap shoot anymore. It used to be the standard of accuracy for factory rifles, not anymore though. The stocks they use for their rifles are worse than junk when it comes to the synthetic rifles. They don't even make for an adequate paddle. The wood stocks are slightly nicer, but usually poorly inletted. On top of that, any company that produces that abortion they call the Remington 710 shouldn't be allowed to show their face in public. I imagine Savage was thrilled to see Remington do that as they could no longer be called the ugliest rifle action out there.
    This was going to be my exact rebuttal.
    ď No kingdom can be secured otherwise than by arming the people. The possession of arms is the distinction between a freeman and a slaveĒ

    James Burg, An Enquiry into, Public Errors, Defects and Abuses 1775

  18. #18
    Administrator Captain's Avatar
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    100% correct on the 710

    It was an abomination
    A Government that pays people to do nothing destorys their willingness to do anything!

  19. #19
    Senior Member (too much time on their hands) airbud7's Avatar
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    Quote Originally Posted by Captain View Post
    I know Kenny personally. He has built six rifles for me over the years
    That's cool stuff Cappy....there shop is about 5miles from me...(Beech Island)

  20. #20
    Administrator Arty's Avatar
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    My very first deer rifle, that was really mine, was a 700 BDL in 30-06. Gorgeous piece of wood and steel for a 13 year old kid. My dad bought it for me as “payment” for me helping him remodel a guys basement (my baptist preacher Dad wore many other hats).
    Unique thing about that rifle, it was an LH model. Fast forward from 13 years old to 27 years old.... and my hungry kids and the light company neeeded that fun more than I did. I pawned it for $180 (Best I can remember). Never got it back.

    I went to a gun shop last Sunday and I saw a 700 BDL, and the tag hangin on it said $849.
    Which didn’t include the scope, the sling, or the case that I left at the pawn shop.

    Remington also stopped making LH 700 BDL’s.

  21. #21
    Senior Member (too much time on their hands) airbud7's Avatar
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    same here Arty^ ....when I turned 30/31 I had a good income again and bought all my favorite guns again brand New! .....then some Thief broke in my house and stole it all...Grrrr

    I'm on round 3 now! ....walmart looks good $$$

    cheap yes but dam I love a little Marlin 30-30 with scope

    Last edited by airbud7; 02-14-2018 at 11:06 PM.

  22. #22
    Senior Member (too much time on their hands) Chicken Dinner's Avatar
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    Nice looking good king shooting iron AB. The first deer I ever killed with a rifle was a Marlin 336 chambered in .35 Remington. Other than my trusty model 870, thatís as close to a Remington rifle Iíve ever owned.


    Sent from my iPhone using Tapatalk
    "When the going gets weird, the weird turn pro." Raoul Duke

  23. #23
    Senior Member (too much time on their hands) airbud7's Avatar
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    Quote Originally Posted by Chicken Dinner View Post
    Nice looking good king shooting iron AB. The first deer I ever killed with a rifle was a Marlin 336 chambered in .35 Remington. Other than my trusty model 870, that’s as close to a Remington rifle I’ve ever owned.


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    sounds stupid but I'd take an 870 over a 1100 any day ...gotta love a pump...

  24. #24
    Senior Member (too much time on their hands) airbud7's Avatar
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    this $147.00 Stevens Model 320 Field Shotgun looks good...your thoughts?

    https://www.walmart.com/ip/Stevens-M...0556#read-more

    edit: some reviews

    Fantastic shotgun
    10/13/2017
    Average rating:5out of5stars, based onreviews
    by YoBoy
    Fantastic shotgun for the price. The pump is a little rough, meaning you have to pump hard to avoid a jam. It is smooth to shoot and very nice to carry, as well as shooting straight. I have used it with great success hunting ducks and upland bird. The gun comes with a modified choke. I've tried using it for deer, shooting rifled slugs, but it's only accurate out to about 40 yards. Easy to clean, easy to assemble. No advanced accessories available, like a rifled barrel. You can do smaller accessories, like slings, etc. Not a better gun in the price range.

    2
    I bought the Stevens 320. when my local had it on rollback, it was a great deal. It is well made, and light enough ( the Pardner while a great shotgun is very heavy). It fires nice. I cleaned it and lubed it before I shot it, you should too. I can find some accessories but it is not real easy. I got it for home defense and maybe turkey on shot and javalina on slugs. I am very happy. Walmart had their asst-manager tape the box closed and escort me all the way to my car, which I think is smart and safe on their part. I was impressed with Walmart here. Some others at the counter were waiting forever for approval, mine came back in 5-8 minutes, and we started on the paper work. Remember they cannot sell until they get the approval on your background check and be patient.
    Last edited by airbud7; 02-15-2018 at 12:09 AM.

  25. #25
    Administrator LJ3's Avatar
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    I got my 700BDL in 85 or so. It's been rock solid all those years. Hardrock (From Bubbles fame) did a quick trigger job on it for me back then and I've been very happy with it. It's been accurate as hell, easy to shoot and real dependable. It sucks to see a sort of flagship company bite the dust because they couldn't look far enough down the road.
    If we all threw our problems in a pile, and you saw everyone else's problems-- you'd take yours back.

  26. #26
    Senior Member (too much time on their hands) jb's Avatar
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    I still have my Left Handed 270, 700BDL that I bought new in 1979,but don't shoot it much anymore. #3 took my LH Browning 7mm08 Stainless Stalker and my goto rife today is a LH Montana Rifle Co. 308.
    But I did buy a Remington last fall, love the gun, one of the best made shotguns I own, and it only 3 years younger than me. 1947 Model 31 TC., goes real well with my 1914 Winchester Model 12.
    The older I get, the better I was

  27. #27
    Senior Member (too much time on their hands) DeputyDog's Avatar
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    I won a Remington 11-87 Premier about 20 years ago at a DU banquet. The thing would shoot fine, but you could not manually extract the round from the chamber. It was impossible to open the bolt to extract the unfired found unless you basically slammed the gun onto something while trying to open the bolt by hand.

    I took it to a gunsmith friend on mine who discovered that the finish work on the chamber was a shitty job. There was a burr left in the metal that would snag into the the hull of the shell and hold onto it. There was enough force when the gun was fired to eject the empty, but you just could not get the bolt to open by hand with an unfired shell in the chamber. After a little mill work by him, he got it smoothed out and it's been my go to duck, goose, and rabbit gun ever since.

    The Versa-Max may be the shit, but the prices are ridiculous at $1000+ .
    "Never try to fight an Old Dude. If you win, there's no glory; if you lose, your reputation is shot."

  28. #28
    Senior Member (too much time on their hands) Chicken Dinner's Avatar
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    Quote Originally Posted by airbud7 View Post
    this $147.00 Stevens Model 320 Field Shotgun looks good...your thoughts?

    https://www.walmart.com/ip/Stevens-M...0556#read-more

    edit: some reviews

    Fantastic shotgun
    10/13/2017
    Average rating:5out of5stars, based onreviews
    by YoBoy
    Fantastic shotgun for the price. The pump is a little rough, meaning you have to pump hard to avoid a jam. It is smooth to shoot and very nice to carry, as well as shooting straight. I have used it with great success hunting ducks and upland bird. The gun comes with a modified choke. I've tried using it for deer, shooting rifled slugs, but it's only accurate out to about 40 yards. Easy to clean, easy to assemble. No advanced accessories available, like a rifled barrel. You can do smaller accessories, like slings, etc. Not a better gun in the price range.

    2
    I bought the Stevens 320. when my local had it on rollback, it was a great deal. It is well made, and light enough ( the Pardner while a great shotgun is very heavy). It fires nice. I cleaned it and lubed it before I shot it, you should too. I can find some accessories but it is not real easy. I got it for home defense and maybe turkey on shot and javalina on slugs. I am very happy. Walmart had their asst-manager tape the box closed and escort me all the way to my car, which I think is smart and safe on their part. I was impressed with Walmart here. Some others at the counter were waiting forever for approval, mine came back in 5-8 minutes, and we started on the paper work. Remember they cannot sell until they get the approval on your background check and be patient.
    I'm not familiar with it AB. I do know I'll never buy another Mossberg. I got one for my older boy the Christmas he turned 15 and it's such a piece of crap I'm afraid to let him hunt with it. He did a science fair project with it that winter involving choke tubes, pattern density and velocity or some such. Shooting that thing off a rest at a patterning target the action would spring open every time you shot it unless you held it closed with your off hand. WTF!
    "When the going gets weird, the weird turn pro." Raoul Duke

  29. #29
    Administrator Arty's Avatar
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    Quote Originally Posted by Chicken Dinner View Post
    I'm not familiar with it AB. I do know I'll never buy another Mossberg. I got one for my older boy the Christmas he turned 15 and it's such a piece of crap I'm afraid to let him hunt with it. He did a science fair project with it that winter involving choke tubes, pattern density and velocity or some such. Shooting that thing off a rest at a patterning target the action would spring open every time you shot it unless you held it closed with your off hand. WTF!
    What model? I’ve got an 835 ulti- mag (3 1/2 inch ball buster) that I really like.
    I even spent the coin for a slug barrel for that gun that I took a deer with down at Radford.

  30. #30
    Senior Member (too much time on their hands) Chicken Dinner's Avatar
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    I think itís a Model 500.


    Sent from my iPhone using Tapatalk
    "When the going gets weird, the weird turn pro." Raoul Duke

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