# Remington Arms - Bankruptcy?



## Micheal (Jan 28, 2009)

Local news said that Remington Arms is seeking a financial way to file for bankruptcy!
Local officials are in the dark and have not had any reply to their questions.....
More to follow?


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## bowslinger (Aug 4, 2007)

I saw that on our news too. Wonder if they will close the plant here in new york


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## alleyyooper (Apr 22, 2005)

I thought they had been bought by a holding company a few years ago?


The private equity mogul and his partners at Cerberus Capital Management are the primary stockholders in Remington Outdoor, the company that makes the most popular version of the “modern sporting rifle” sold in the US.

The company that makes the most popular version of the “modern sporting rifle” sold in the US. the AR style of black rifle.

“We experienced a strong, but disciplined demand in late 2015 and the first quarter of 2016 after the tragic events in Paris and San Bernardino,” noted the company, which worked to bring an even cheaper version of the weapon to market. “In response to the demand for opening price point products, we launched the QRC rifle, an entry level price point Bushmaster MSR.”

It seems Remington Outdoor will continue pumping out the AR-15 variants used in so many mass shootings, and profiting as fear—whether the fear of being defenseless in the face of a gunman, or the fear of politicians eventually mustering the will to outlaw these weapons—helps drive sales through the roof.

Even though they mass shoioting wepons were not made by Remington.
In the murder of 49 people at a gay nightclub in Orlando, the gunman used an Italian version made by Sig Sauer

 Al


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## Micheal (Jan 28, 2009)

bowslinger said:


> I saw that on our news too. Wonder if they will close the plant here in new york


That's the one I made mention about saying that local officials not knowing or being told anything.... Ilion NY. Remington has a 200+ year history there...... The sad part is if Remington does close that plant that village much like a lot of other small villages relying on one industry will just about dry up and die.


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## fishhead (Jul 19, 2006)

I would expect it to be another corporate closure based on rewarding stockholders. That seems to be happening a lot. I wonder if the latest tax bill has anything to do with it.


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## Tnff319 (May 28, 2012)

How does a business closure help stockholders?? Any data to back up "seems to be happening a lot"?


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## Texaspredatorhu (Sep 15, 2015)

alleyyooper said:


> I thought they had been bought by a holding company a few years ago?
> 
> 
> The private equity mogul and his partners at Cerberus Capital Management are the primary stockholders in Remington Outdoor, the company that makes the most popular version of the “modern sporting rifle” sold in the US.
> ...


don’t really know where you got all this info. Sig is not Italian, they are Swiss-German. With marlin and h&r gone, they should sell off the rest. I believe they were awarded an 80 million dollar contract a few years back to keep them in New York because they were going to leave. All the gun companies that they bought up were better before being bought and are now ruined!


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## Bearfootfarm (Jul 13, 2006)

Texaspredatorhu said:


> I believe they were awarded an 80 million dollar contract a few years back to keep them in New York because they were going to leave.


They moved the corporate headquarters to NC years ago, and moved much of their production out of NY. They don't do as much at Ilion any more. The newest factory is in Alabama.

https://en.wikipedia.org/wiki/Remington_Arms

Colt has been in and out of "bankruptcy" many times and remains in business, so I don't foresee Remington closing the doors.


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## GTX63 (Dec 13, 2016)

Borrow a bunch of money and go deeper and deeper in debt, all the while producing cheaper and inferior products is a good formula for a company's demise. Better to let a company file and reorganize and then sell to people who know what they are doing.


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## Texaspredatorhu (Sep 15, 2015)

GTX63 said:


> Borrow a bunch of money and go deeper and deeper in debt, all the while producing cheaper and inferior products is a good formula for a company's demise. Better to let a company file and reorganize and then sell to people who know what they are doing.


Remington’s quality has been suffering for awhile now. I don’t think they can recover their name at this point. It’s like buying a savage.


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## JJ Grandits (Nov 10, 2002)

Is Savage having quality problems too?


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## GTX63 (Dec 13, 2016)

I would honestly buy another Remington under new ownership if they developed a plan, retooled and redid their qc.
Any buyer will be paying pennies on the dollar and banking on even at the entry level, a casual gun owner choosing their next rifle based on name recognition. Plenty of folks buying those junk 770s even after it became common knowledge how bad they were.
The next Remington will just need to have a plan that doesn't involve huge bonuses, stock splitting and borrowing to pay off the borrowing.


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## alleyyooper (Apr 22, 2005)

I would buy another Remington in a new York minute today.
Lot of used ones on the market, Just havn't found one I want bad enough like a 222 Mag with medium to lite barrel.


 Al


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## Texaspredatorhu (Sep 15, 2015)

JJ Grandits said:


> Is Savage having quality problems too?


Savage is by far the worst of the worst. Bolts breaking, barrel missing rifling, bolts won’t open on standard pressure rounds, the list goes on and on. Remington hasn’t had the failures of savage....yet but their quality is failing.


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## Texaspredatorhu (Sep 15, 2015)

Out of all the “cheap” rifles, the Ruger American takes the cake and is actually a dang good rifle. The stock had a lot left to be desired but that’s a simple fix. The savage axis and Remington 770/783 are all junk.


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## Bearfootfarm (Jul 13, 2006)

Texaspredatorhu said:


> The savage axis and Remington 770/783 are all junk.


They are made to be cheap, not good.
You get what you pay for with most any product line.


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## Texaspredatorhu (Sep 15, 2015)

Bearfootfarm said:


> They are made to be cheap, not good.
> You get what you pay for with most any product line.


Absolutely. Rugers American rifle is actually quality for the price it’s at. Which is comparable to a Remington 700 Adl, the price anyway.


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