Gunmaker Remington filing for bankruptcy

NY Post ^ | 2/12/18 | Richard Morgan

[Fai Mao]

Remington Outdoor announced plans to file for bankruptcy on Monday, succumbing to a “Trump slump” that whacked sales by 30 percent in its most recent quarter.

https://nypost.com/2018/02/12/gunmaker-remington-filing-for-bankruptcy/

[Spktyr]

Go look at the Ruger American line of new-gen left-hand bolt guns and see what the discounted price is for them. You won’t think the Remington lefty guns are so well priced afterwards.

[Squantos]

Just was reading that ....thanks. Freedom Group appears to be the non-gun manufacturers in this group of gun manufacturers mucking up general industry at large ..... they soros owned ??

[DesertRhino]

The need for that was only perceived by those who think your company must continually expand and grow. It should have been enough for them to be extremely confident and a couple of products that they were famous for, and leave it at that. If I want a polymer pistol I’ll go to Glock.

[Spktyr]

They actually tried that first. Look back at their prior 10K filings and you will see how well that (didn’t) work. Their supreme confidence in their old traditional lines fell over in the face of the changing market when they discovered the great majority of the market didn’t want to buy what they had to sell.

Like it or not, polymer pistols are the mainstream buyer’s choice. If you are a volume manufacturer, you either make what people want or you go bankrupt.

[Spktyr]

Er, not Soros owned and it wasn’t ‘non-gun’ manufacturing at the core.

[Squantos]

Yep my bad ...... looking at Anthony Acitelli , James Marcotuli , Robert Nardelli seem to be the players in freedom group aka Remington Outdoor Group , formally Freedom Group. Like a script from goodfellas ?

[Big Red Badger]

A RUGER mag feed Pump Shotgun...

THANKS for the Inspiration!

[S.O.S121.500]

Re-Read niteowl77’s post #7 until you can understand it.....

[Pollster1]

I tried the recent Remington 887, and it was trash.

You’re right on their 870 - mine is old, and I know nothing of their new ones.

I have not tried a new bolt action rifles; what I have in that area is all I will ever need.

[Rashputin]

No

[Rashputin]

They have over $900 million in debt after nearly decade of record breaking arms and ammunition sales in the US.

To me, that's more than extremely poor management, it's the result of a methodology that's been refined and used to bankrupt US companies too numerous to itemize by riding on a well known Brand Name until it collapses then leaving someone else with the ruins after having lived very, very, well while taking the company down the tubes.

JMHo

[Blood of Tyrants]

The 700 recall didn’t help.

[Spktyr]

Nope, but it was just another Remington fail on top of an already amassed mountain of fail.

[snoringbear]

“"I’m getting on up there in years and now have all the guns my wife will allow me to buy so I don’t keep up with current events in the gun business 😏." See the last paragraph in my post number 4 - they were attempting to cater to people who found themselves in your situation. Already had what they wanted/needed, not buying anything else.” Yah, I’ve actually prepared a “suggestion list” for my wife on how to bequeath my guns when I go to the Happy Hunting Grounds. Being none of my threee daughters, husbands or grandchildren are port sliders I may eventually sell them. My wife is a lefty but is cross dominant in vision (right eye dominant) so I’ve taught her to shoot right handed.