Remington is about to file for Bankrupcy

[Krdshrk 3,877]

Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday.

https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy-exclusive/exclusive-u-s-gunmaker-remington-seeks-financing-to-file-for-bankruptcy-sources-idUSKBN1FT04C

$950 million in debt..... 

[fatty 241]

geez that's a lot of money.  

[GunsnFreedom 245]

For a company?  That’s nothing in debt.  Do we know what kind of debt and assets they have?  Is it a public company?  I can’t look it all up Monday find it is.

[capt14k 2,052]

Firearms manufacturers are missing Obama already.

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[JackDaWack 2,895]

Wtf have they been doing during the last 8 years of record sales?

[ChrisJM981 924]

1 minute ago, JackDaWack said:

Wtf have they been doing during the last 8 years of record sales?

Paid for the Remington 700 recalls and produced crappy ammo.

[NJGF 375]

Very sad.

[TR20 47]

38 minutes ago, ChrisJM981 said:

Paid for the Remington 700 recalls and produced crappy ammo.

Exactly, plus they put out a few questionable rifles lately (783) which is not helping their bottom line.

 

[Scorpio64 5,156]

49 minutes ago, JackDaWack said:

Wtf have they been doing during the last 8 years of record sales?

Planning their retirement. Remington is no longer a true US Corp. BO is gone and so are the profits. 

[Ray Ray 3,566]

@High Exposure, i guess your gonna switch over.

[High Exposure 5,664]

Nah. They won’t go under.

[Ray Ray 3,566]

7 minutes ago, High Exposure said:

Nah. They won’t go under.

Okay, but I think the Mossberg vs Remington battle has a victor.  Although Mossberg won this battle when they released the 590A1.

[High Exposure 5,664]

How’s that?

Renington was founded 202 years ago and has been around for almost 100 years longer than Mossberg - you can’t even compare.

I’ve said it a bunch of times, Mossberg is a fine shotgun. I happen to prefer Remington. That’s not going to change even if Remington shuts its doors.

The “battle” is all in your head Ray. You should probably go see someone about that....

[capt14k 2,052]

Okay, but I think the Mossberg vs Remington battle has a victor.  Although Mossberg won this battle when they released the 590A1.

Mossberg has a lot of catching up to do. 1903A3, 1914, and 1917. Just those 3 rifle models armed more men in war than Mossberg could ever hope to.

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[Ray Ray 3,566]

Just now, capt14k said:

Mossberg has a lot of catching up to do. 1903A3, 1914, and 1917. Just those 3 rifle models armed more men in war than Mossberg could ever hope to.

I am talking combat shotguns, not battle rifles.  

[capt14k 2,052]

I am talking combat shotguns, not battle rifles.  

From WWI Model 10 to Vietnam 870 Remington wins again.


Slogan should be Remington goes to war while Mossberg stays home to train

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[Ray Ray 3,566]

26 minutes ago, capt14k said:

From WWI Model 10 to Vietnam 870 Remington wins again.


Slogan should be Remington goes to war while Mossberg stays home to train

 

You could have said that in 1998, when Remington was legit.  But, as we all know, Freedom Group ruins quality control.   Just ask Marlin and Remington.  It is a shame though, the 870L Wingmaster is my first ever gun and I will cherish it long after Big Green closes their doors in a few years.

[capt14k 2,052]

  You could have said that in 1998, when Remington was legit.  But, as we all know, Freedom Group ruins quality control.   Just ask Marlin and Remington.  It is a shame though, the 870L Wingmaster is my first ever gun and I will cherish it long after Big Green closes their doors in a few years.

 

I can agree with that. Iconic brands were destroyed. 

 

At least there is still Winchester

 

Isn't Mossberg mostly Turkish and Mexican parts assembled in Texas? Doesn't scream quality.

 

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[JohnnyB 4,326]

Remington is way to big to just go away.....They will be fine!

[capt14k 2,052]

Remington is way to big to just go away.....They will be fine![emoji4]

I don't know about that. They only sold for $131M 10 years ago and that included taking on $241M in debt. In the last year it looks like sales went from $950M to $650M. They definitely aren't too big to fail.

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[Scorpio64 5,156]

30 minutes ago, capt14k said:

Mossberg has a lot of catching up to do. 1903A3, 1914, and 1917. Just those 3 rifle models armed more men in war than Mossberg could ever hope to.

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It is undeniable that Remington has an outstanding legacy, but that's just what it is, a legacy.  Mossberg is smashing it with the Shockwave, which Remington quickly copied once they saw it was a hot item, all of Remington's sales of the Tac was driven by brand loyalty.and riding the coattails of Mossberg's innovation.

Remington struggled for years to get the R51 out.

When they took over Marlin, quality went down the shitter. I read so many complaints about the poor quality of the so called "Remlins"., especially complaints about 336's.  Appalling fit and finish, inconsistent accuracy, some are lemons and others tack drivers.  It's a crap shoot.

The 700 series is nice but not the only game in town.  A tricked out 700 could easily cost $3000.00.  But why buy a sweet rifle like that when you can get something just as sweet from Ruger for a 1/3rd the cost.  Ruger is smashing the long range precision rifle market.  A very traditional company like Remington, but far more innovative and changing with the times.

I'm still a huge fan of the 870. Mine was built in the early 90's and it's just as good today as the day I unboxed it. I'd still recommend an 870 but if they really needed 1990's Rem quality, I'd tell them to look at Benelli.

Remington's legacy is not enough alone to keep that company alive.  They need to make some major improvements to QC and stop being cheap bastards.Get back into the business of making guns instead of sacrificing quality just to shave a few dollars.

I hope Remington can pull through this.  Sadly, I'm not optimistic that they can.  It would kill me to see the brand sold or licensed to a Chinese company.

[silverado427 10,731]

WTF there am I going to get my golden bullets... and 124 gr  golden sabers

[MichaelDiggs 29]

Maybe all the laws are turning into NJ laws, then no one will have firearms. Smart company maybe.

 

[Ray Ray 3,566]

11 hours ago, capt14k said:

Isn't Mossberg mostly Turkish and Mexican parts assembled in Texas? Doesn't scream quality.

Incorrect.  They sell a budget pump shotgun called the Maverick 88 that has Mexican parts but is assembled in Texas.

The other guns are made in Connecticut, I think.  

[Scorpio64 5,156]

Mossberg over unders are made in Turkey, 88 China, mucho parts hecho en Meh-he-ko and China, 702 Brazil.

[capt14k 2,052]

Incorrect.  They sell a budget pump shotgun called the Maverick 88 that has Mexican parts but is assembled in Texas.

The other guns are made in Connecticut, I think.  

 

That is definitely not correct. They basically left CT when the laws were changed. 4 years ago 90% were assembled or Made in Texas.

 

 

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Mossberg over unders are made in Turkey, 88 China, mucho parts hecho en Meh-he-ko and China, 702 Brazil.

 

That sounds correct and goes with what I have read.

 

 

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[capt14k 2,052]

Mossberg over unders are made in Turkey, 88 China, mucho parts hecho en Meh-he-ko and China, 702 Brazil.

 

500's parts made in Mexico and China. Assembled in Texas.

Plinkster is an import.

 

 

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[Scorpio64 5,156]

6 minutes ago, capt14k said:

500 parts made in Mexico and China. Assembled in Texas.

Yeah, I think you're right. Maybe confusing the 88 with Stevens 320.

[capt14k 2,052]

Yeah, I think you're right. Maybe confusing the 88 with Stevens 320.

  You were correct.

 

Edit The Maverick is also foreign made. Maverick 88 looks to have foreign parts as you stated. For that matter all of their doubles are Made in Turkey.

 

 

930 barrels, triggers, and bolt assemblies made in Mexico. Getting close to a USA MADE Shotgun. Maybe the 590 is truly made in the USA?

 

 

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[Ray Ray 3,566]

Jesus Christ people, relax.  I get it, you are trying to stand behind your favorite pump guns.  But facts are facts.  Mossbergs are better built, more durable, and more dependable than Remingtons.  Sorry