Posted on 02/08/2018 6:40:22 PM PST by jazusamo
One of the biggest U.S. gun manufacturers is taking steps toward filing for bankruptcy, according to Reuters news service.
Remington Outdoor Company Inc. has “reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy,” Reuters reported Thursday evening, citing “people familiar with the matter.”
According to those sources, the debt-ridden company missed a payment on its debt this week and is seeking “debtor-in-possession financing” that would let the company continue operations once it went bankrupt.
(Excerpt) Read more at washingtontimes.com ...
Remington was a great company that produced great firearms up until the early ‘90s then they started the slippery slide down the slope of cheapness, poor quality control, and too many models...too bad...I like my early 700s, Nylon 66, 541s, and a few others....
Truer words.
Don’t know the details, but i bet this turns out to be a story about financial sharpshooting, rather than story of firearms.
Modern executives loading up companies with debt, etc, running up stock prices for executive bonuses, etc.
Two hundred year old companies don’t usually just die without some help.
What part of their problem is a grossly distorted supply demand chain. Fear of liberals massively accelerated spending on weapons only to be filled later by a collapse in demand?
What part of their problem is a grossly distorted supply demand chain. Fear of liberals massively accelerated spending on weapons only to be filled later by a collapse in demand?
I didn't know anything about them, but guessed there was a "private equity" company involved. These people are locusts. They load up a company with massive debt and if they manage to succeed, they get rich. If not, banks and the workers wind up getting screwed.
When my son was in college he fished my 35+-year-old Nylon 66 out of the closet and asked if he could clean it up and send a few rounds through it. A couple of weeks later he told me that ancient, un-maintained relic from my own youth was the hit of the rifle range when he cleaned it up and took it out for a shooting.
It looked like new when he returned it to me, and I just handed it back and said .. "Now it's yours".
That was an amazing survival rifle, BTW. Extremely light weight and rugged, and the perfect round for taking out small game.
Tell em there are 17 for sale right now on Gunbroker. Pretty cheap too.
Browning, Marlin, Winchester, Weatherby, Remington...all bought out and what we cherish are the ones handed down to us.
How the heck can someone screw up a Marlin, or something from John Browning? They figured out how. Cheap materials and cost-cutting quality control.
No worries. Those original guns are still good fifty, or a hundred years later.
Mine is NIB.
We just said they were ILL aka Ivy League Looters.
Don’t forget how bad they screwed up the Marlin takeover a few years back.
Nobody wanted to buy the Remington made Marlins the quality was so bad.
>>I own one of the last 870’s they made in 28 GA.
There is a line around the block to beg me to sell it to them.<<
That’s weird. I just checked one of my distributors. They have eleven 28 gauge Remington Wingmasters in stock, ready for immediate delivery.
I think Savage right now is kicking everyone’s butts in the sporting rifle market. Bought my grandson a youth model 243 with the adjustable trigger and you can drive tacks with it.
I haven’t met anyone with a Savage rifle who regrets buying it. Not a one.
I have an old Glenfield .30-30 that is probably superior to the Remington-built versions of the same rifle. Sad. Not long ago, I saw that the Model 39a rimfire had been moved to the Marlin "Custom Shop" web page - with a price tag north of $3,000.00. Turns out the "custom shop" was actually a sister company under the "Big Green" umbrella - Dakota Arms. Nice rifles, but *ouch*.
Hopefully, a competent company will purchase the Marlin and Dakota bits and pieces and offer those marques a future.
I call it “Romneyism.”
Yes, Savage is selling performance at a value price. What a concept. Must not be any Ivy League Commiecrats in their management.
Sad to see this happening.
I inherited a Sportmaster
.22 bolt action tube feed
rifle that was made in 1940.
It has never failed to fire.
Strong, well made American
quality. How long before all
the good stuff is gone?
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