Remington Is Planning to File for Bankruptcy

1349

Could Remington firearms reach as yet unplumbed levels of shoddiness?


I tried to link to the Bloomberg article, but I cannot post links, so you gotta google.

gunny123

Its not the first time, problem is they took over other brands such as marlin. If remmy fold they would likely fold too.

Manufacturing in the usa is in trouble, the old thing of buying american, does not work if you are selling rubbish.

Grizzly 45

Cerebus corporation for you...They have swallowed a good few gun companies that made good stuff and have now gone to fuk.:mad:

BattleCorp

Grizzly 45 wrote: »

Cerebus corporation for you...They have swallowed a good few gun companies that made good stuff and have now gone to fuk.:mad:

I wonder will those lovely new Marlin lever actions that were unveiled recently now be mothballed?

clivej

U.S. gunmaker Remington reaches deal with creditors to file for bankruptcy

https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy/u-s-gunmaker-remington-reaches-deal-with-creditors-to-file-for-bankruptcy-idUSKBN1FW23Q

circadian

Wow that's a big name hitting bankruptcy. I had the pleasure of trying the R700 on a few occasions at ranges in the US. Was one of the nicest rifles I've ever handled.

Grizzly 45

Isn't it amazing how much the bankruptcy laws are in the US compared to here? You get money in the US to see you thru the process and people accept it as a risk that companies can fail, and that ok..Well, fail better the next time around.
Colt files chapter 13[utter bankruptcy]...Yet there they still are.You are considered a bit "odd" if you haven't filed at least once a chapter 11 or 13 as a businessman in the US.

Here OTOH...You will be forced to walk naked thru the streets with someone ringing a bell behind you yelling SHAME!....SHAME!....SHAME!If you fail as a small busisness.:(

gunny123

I seen a video on youtube of a guy getting his brand new in the box Marlin lever action, laminated stock,stainless steel in 45-70. His dream rifle for shooting in heavily wooded areas. The rifle was in a shocking state, looking like it took a whack to the loading gate area on the side of the action, scratching to the action body like someone let a screwdriver slip, and the open sights seemed crooked on the barrel.

Marlins used to be great, but people noticed a drop off in quality when remmy took over, and seeing the state of some remingtons i am not surprised.

meathstevie

Grizzly 45 wrote: »

Isn't it amazing how much the bankruptcy laws are in the US compared to here? You get money in the US to see you thru the process and people accept it as a risk that companies can fail, and that ok..Well, fail better the next time around.
Colt files chapter 13[utter bankruptcy]...Yet there they still are.You are considered a bit "odd" if you haven't filed at least once a chapter 11 or 13 as a businessman in the US.

Here OTOH...You will be forced to walk naked thru the streets with someone ringing a bell behind you yelling SHAME!....SHAME!....SHAME!If you fail as a small busisness.:(

There must be a "happy" middle ground between the tar and feathers ( banks excluded ) over here and the I'll be damned if could be bothered paying the creditors in the US.

Grizzly 45

gunny123 wrote: »

I seen a video on youtube of a guy getting his brand new in the box Marlin lever action, laminated stock,stainless steel in 45-70. His dream rifle for shooting in heavily wooded areas. The rifle was in a shocking state, looking like it took a whack to the loading gate area on the side of the action, scratching to the action body like someone let a screwdriver slip, and the open sights seemed crooked on the barrel.

Marlins used to be great, but people noticed a drop off in quality when remmy took over, and seeing the state of some remingtons i am not surprised.

I agree.Remington quality control has gone a long time ago...Dirty great thumbprint on my fore end in the Real Tree water transfer and the fore end being held on with Loctite to keep the lines parallel was what I discovered on mine when I got it.Wasn't arsed sending it back to the US for cosmetic blemishes after all the hassle of getting it, but it was a portent of things to come....
Read comments online about how BAD the new 870 is in quality control in finish and rusting compared to the old 870 Wingmaster shotgun is utterly shocking.

Grizzly 45

meathstevie wrote: »

There must be a "happy" middle ground between the tar and feathers ( banks excluded ) over here and the I'll be damned if could be bothered paying the creditors in the US.

You get paid as a creditor in the US alright.But it is usually never the full amount, it's on a per ratio basis of what you put in.IE the bigger the investment the smaller percentage you get back, as everyone else has to get paid as well.

Plus you cant be doing it too often either, and there is a lot more severe penalties for reckless trading or company fraud.Think IRS SWAT teams kicking your door in at 5 AM, and taking literally ANYTHING and everything you are not wearing at the time.[Ala the scene in the film American made, where Barry Seal is getting his missus bedecked in all her furs, diamonds and Rolexes so the Feds cant confiscate all their assets:):)]

Our corrupt banksters would have been on their office floors with the business end of an MP5 in their necks, while being cuffed and dragged out in full public media glare to be chucked into a squad car and driven off at high speed to the local jail.While a team of qualified auditors and accountants took their offices and homes apart.Not allowed to walk about freely and be "invited" to the local Garda station for a statement.:mad::mad:

meathstevie

Grizzly 45 wrote: »

You get paid as a creditor in the US alright.But it is usually never the full amount, it's on a per ratio basis of what you put in.IE the bigger the investment the smaller percentage you get back, as everyone else has to get paid as well.

Plus you cant be doing it too often either, and there is a lot more severe penalties for reckless trading or company fraud.Think IRS SWAT teams kicking your door in at 5 AM, and taking literally ANYTHING and everything you are not wearing at the time.[Ala the scene in the film American made, where Barry Seal is getting his missus bedecked in all her furs, diamonds and Rolexes so the Feds cant confiscate all their assets:):)]

Our corrupt banksters would have been on their office floors with the business end of an MP5 in their necks, while being cuffed and dragged out in full public media glare to be chucked into a squad car and driven off at high speed to the local jail.While a team of qualified auditors and accountants took their offices and homes apart.Not allowed to walk about freely and be "invited" to the local Garda station for a statement.:mad::mad:

Lenient on genuine bankruptcy and very much criminal justice orientated on fraudulent bankruptcy so. Nothing wrong with that. Over here the ones that were essentially in the latter scenario now force others into bankruptcy....

Remington wouldn't be that exceptional either in the arms industry. I think you'll be hard pressed to find a big arms manufacturer that hasn't been bankrupt or insolvent at some stage.

gunny123

meathstevie wrote: »

Lenient on genuine bankruptcy and very much criminal justice orientated on fraudulent bankruptcy so. Nothing wrong with that. Over here the ones that were essentially in the latter scenario now force others into bankruptcy....

Remington wouldn't be that exceptional either in the arms industry. I think you'll be hard pressed to find a big arms manufacturer that hasn't been bankrupt or insolvent at some stage.

You would imagine selling firearms in the usa would be the easiest business environment in the world. Ruger as a brand is a favorite of mine, i have had several of their rifles, a centrefire and rimfire, a semi-auto pistol and a revolver. All have been good value for money, rugged (if a bit unpolished) and they are innovative as a company, selling classic designs as well as the new black polymer stuff. I do not know if they have ever been bankrupt though.

Grizzly 45

Blame Trump!!:)
Seeing that he is the most pro-gun president in a long while, the gun sales have dwindled.Compared to when Obama was there, the last two Black Fridays under his presidency, Americans bought more guns in one day to equip the ENTIRE US Marine Corps twice and a half times over.For two black Fridays running.So many sales utterly crashed the instant background check or NICIS system with attempted sales checks.
Trump is in office the last Black Friday sale2017 ,gun sales were moderate to good...But nothing compared to Obama's reign.

Moral..if you want your arms industry to work, make sure you have anti-gun idiots in power in the USA:D:D

Grizzly 45

Bill Ruger's big mistake was banning the sales of genuine Ruger Hi-cap mags to civilians in the 1980s, and selling them to law enforcement only.Ruger lost a lot of goodwill from the shooting public thru that move.Same as Colt did with banning sales of the A2.It kicked off the AR15 arms race, as the patent ran out on Colt within a few years, so every man and his dog was making AR15s, some terrible, some much better than Colt.So much that Colt[overpriced for what it is]lost huge ground and was surviving on US Govt contracts.

gunny123

Well i remember the infamous ruger letter, which bill ruger wrote to the government, recommending that civilian magazines be restricted to 10 rounds.

A lot of people boycotted the ruger brand after that until bill died.

tikkamark

European gun makers are miles ahead of the yanks in terms of quality I think with the likes of sako creating the tikka brand did a lot of damage to the us brands.
There finally copping on the the higher quality of the European guns over there

Grizzly 45

Except all the European companies are packing up and moving to the US as the EU and ITAR laws make life more miserable for everyone.