I just got a letter in the mail about Remington declaring bankruptcy. I guess I’m getting notified because I put in for the trigger recall following the lawsuit.
From Bloomberg story: "Cerberus Capital Management had acquired Remington in 2007, and the firearms and ammunition giant accumulated nearly $1 billion in debt."
Cerberus gutted the company, then left it for dead. They filed for bankruptcy in 2018 as well. This is the second bankruptcy.
hopefully some decent management can pick up the pieces and get it back on track.
Why did Cerberus gut them? It's what they do...
Don’t blame the brand for what Cerberus did... and didn’t do... I truly believe the right leadership could bring Big Green back, with a vengeance. Though some very tough decisions would, no doubt, be needed.But why should Remington get another chance?
I heard the Navajo Nation was wanting to buy them.?
And get rid of their union.They need to leave NY
I agree I wish someone/a wealthy person who loves guns would buy them and return them to glory.Don’t blame the brand for what Cerberus did... and didn’t do... I truly believe the right leadership could bring Big Green back, with a vengeance. Though some veery tough decisions would, no doubt, be needed.
Was Cerberus a George Soros operation to destroy the gun industry from the inside?
My thoughts exactly.Hey look, guess I still wont be buying anything Remington.
Oh noes!11!
Did they get bought by the indian tribe? I can't wait to watch that dumpsterfire.
They moved the vast majority of people (like 2500 jobs) and production out to AL and NC like 6 years ago. It was all over the news up here, the CEO basically told Cuomo to FOAD after the SAFE Act got passed. I think there was a back door deal done to keep some of it (mostly shotguns) made in NY so the town of Ilion didn't completely die.They need to leave NY
No shit? I hadn’t heard that about AL and NC production, but it absolutely makes sense.They moved the vast majority of people (like 2500 jobs) and production out to AL and NC like 6 years ago. It was all over the news up here, the CEO basically told Cuomo to FOAD after the SAFE Act got passed. I think there was a back door deal done to keep some of it (mostly shotguns) made in NY so the town of Ilion didn't completely die.
Maybe they will come out of this with a slightly better understanding of what twist rates are beneficial for modern bullet designs.It's just a reorganization bankruptcy, they will come out of this slightly different but still in the firearm and ammunition business.
Maybe they will come out of this with a slightly better understanding of what twist rates are beneficial for modern bullet designs.
I will admit to being a fan of the 700 action though.
Disagree. Gun companies that produce low quality garbage need to die or clean up their act. Big green has had multiple opportunities to right the ship, they simply won’t because they care about quantity not quality. Now what need to happen is they go private, scale down their offerings and get back to the basics and bring the R700 into the 21st century they can probably redeem themselves But fuck, even the military is done with them. M40’s and M24’s are yesterday’s guns.Whether you like their products or not, REMINGTON is a huge name in the industry. Much like COLT or the NRA. Anything that can be cast badly by the left and anti-gun crowd, they'll use as a major win.
I think its all a coordinated hit job on the gun rights. If REMINGTON (in this case) falls, its just one less major company employing people in the gun industry.
Right now, every one of us should do everything we can to support any USA gun company. Now is not the time for gun owners to be divided, bickering of this gun or that gun, this pro 2A organization or that one. Gun owners myst stay united in the fight.
Disagree. Gun companies that produce low quality garbage need to die or clean up their act. Big green has had multiple opportunities to right the ship, they simply won’t because they care about quantity not quality. Now what need to happen is they go private, scale down their offerings and get back to the basics and bring the R700 into the 21st century they can probably redeem themselves But fuck, even the military is done with them. M40’s and M24’s are yesterday’s guns.
Navajo Nation buyout would have been bad for us all, poors or not.Hey look, guess I still wont be buying anything Remington.
Oh noes!11!
Did they get bought by the indian tribe? I can't wait to watch that dumpsterfire.
Navajo Nation buyout would have been bad for us all, poors or not.
Their stated intent was to stop selling to civilians, focus on MIL+LE sales, and use the profits to develop "smart gun technology": biometric triggers locked to the weapon's owner, microstamped serials on boltfaces, Orwellian shit like that.
Remington, like Chrysler and GM, should have been left to their fates at the hand of the market.Whether you like their products or not, REMINGTON is a huge name in the industry. Much like COLT or the NRA. Anything that can be cast badly by the left and anti-gun crowd, they'll use as a major win.
I think its all a coordinated hit job on the gun rights. If REMINGTON (in this case) falls, its just one less major company employing people in the gun industry.
Right now, every one of us should do everything we can to support any USA gun company. Now is not the time for gun owners to be divided, bickering of this gun or that gun, this pro 2A organization or that one. Gun owners myst stay united in the fight.
That was all Cerberus, doing what Cerberus does... don’t blame any of that on Remington proper.After burying DPMS and Bushmaster, I could care less if Remington goes belly up. Seems like everything they touch goes to shit in short order.
Don't forget they got in bed with a cheap whore (Wal-Mart) who consistently pushed them to cut corners and lower their standards to meet a certain price point which in return helped them earn the well deserved reputation they have today.Remington going down cant be blamed on Cerberus, though im certain it didnt help. Remington has been cutting their own throats with their design and production decisions for 40+ years.
Certainly cerberus didnt make them design and sell triangle profile barrels? or screw up the 6mm Remington barrel twist. or lose the 260 remington cartridge race to the 6.5 creed. Then the R51 debacle, all the trigger issues. Its a mess.
Remington has actively worked hard to put themselves right where they are now.
Don't forget they got in bed with a cheap whore (Wal-Mart) who consistently pushed them to cut corners and lower their standards to meet a certain price point which in return helped them earn the well deserved reputation they have today.
I’m no fanboy, trust me, but will have to respectfully disagree on that point. We’ve got to acknowledge we’re a tiny segment of the overall market and not their primary, or even secondary, target at all. The Fudds (who are...) would’ve been more than happy to continue to purchase Big Green, if Cerberus hadn’t gutted the company and layered on unsupportable levels of debt service.Remington going down cant be blamed on Cerberus, though im certain it didnt help. Remington has been cutting their own throats with their design and production decisions for 40+ years.
Certainly cerberus didnt make them design and sell triangle profile barrels? or screw up the 6mm Remington barrel twist. or lose the 260 remington cartridge race to the 6.5 creed. Then the R51 debacle, all the trigger issues. Its a mess.
Remington has actively worked hard to put themselves right where they are now.