Remington in financial trouble?

[3MTA3]

Isn't George Soros involved with Cereberus, who if I'm not mistaken owns Remington through American Outdoor Brands?
If that is the case it makes sense it would be driven out of business.
One more source of supply for us 2nd Amendment deplorables . . . dried up!!!!!

Sheldon

Three rings of... steal...

 

[EPS]

No.

Lol your better off saying who knows he has so much money he manipulate lots of stuff ACCULLY NOBODY REALLY KNOWS WHERE HIS MONEY COMES FROM .MMMMMMM WHAT THE F@##$

 

[RVTECH]

Kind of like Henry rifles. The new Henry company isn't connected to the original one.

There was never an 'original' Henry company. The Company that built the original 'Henry' rifle was the New Haven Arms Co. The 'new' company, Henry Repeating Arms, is little more than an adaptation of the name of the original rifle to equate to the reintroduction of an American made rifle based on the original design. AND while the 'new' Henry rifle took off like gangbusters the company expanded into modern redesigns of classic rifles and quite frankly filled the void left by some other well known manufacturers and are working hard to meet demand - while the others are fading into the sunset.....

 

[Colts4me]

I expect Colt to go under this year.

 

[Argonaut]

They filed chapter 11, that only protects them from there creditors while they reorganize. They aren't going away.......just restructuring. It is a strategic move to save the company. You can take off your foil hats...........I have subcontracted to companies that had been in chapter 11 for decades and still fully functioning. They waited to come out of it until they had a large profitable contract.

 

[EPS]

They all will go under atleast all the big ones will they will be broken up

 

[EPS]

Keep what you got sell what you want but know this YOU WILL NOT BE ABLE TO REPLACE IT IN THE FUTURE. MMMMMM THE PURGE IS COMING

 

[Argonaut]

Chapter 11 can even be used to break a union contract.

 

[gmerkt]

It's probably not a fatal situation for the brand. Colt has declared bankruptcy more than once, came back again. For the existing company, the debt goes away. I wouldn't want to be owed any money by Remington. And there's that overhang of millions of 700 series rifles that have yet to be corrected. Or maybe those will all be discharged via bankruptcy? I've read that the bankruptcy is for Remington Outdoors, the holding company for their many units involved in the firearms manufacturing business. So anything to do with any of their brands will be involved.

The amount of debt involved is pretty big, $950 Million. But in these days of government annual operating deficits of $1 Trillion being ordinary, maybe not so staggering. Funny thing, money just isn't worth what it used to be. The major creditors of Remington Outdoors are arranging with the court to take over the company in exchange for some of the debt they are owed; they will try to sell off parts of the enterprise to get their money back. But there will still be a lot of debt remaining. Get this, the creditors who are taking over the company will have to come up with $100 million just to keep the outfit going during bankruptcy.

 

[EPS]

For small company yes I don't think rem is a small company they are owned by a parent company now I don't think they have any union ties as far as I know

 

[Brutus57]

Unfortunate, guess my next will be a Mossy 500. Love my long action 06.

Brutus out

 

[mkwerx]

That NRA article uses Snopes as a reliable info source. snopes has itself been outed as BS, as it has no staff, just a friend of none other than Soros himself plus his wife running the thing.

Freedom Group / Cerberus destroys gun companies. Every brand they hoovered up went to crap.

American Outdoors is what Smith & Wesson became, and thankfully, Cerberus has yet to hoover them up, but AOG/S&W did hoover up Crimson Trace and Gemtech

 

[Argonaut]

Chapter 11 protects from creditors, all busisness dealings must go through the court including any income and payments . Remington will submit a plan to remedy the situation that has to be approved by the court and can be argued against by creditors but everything is up in the air. Remember when Obama simply wiped out all the Chrysler preferred stock holders while selling the company to the union and Fiat? It is all negotiable.....Remington will submit a plan and the damaged creditors will argue against it......many times it just gives the company time to pay off debt or a portion of it at a discount or low interest rate while preventing any post filing attachments. Everything will be presented to the court for arguments.....the devel is in the details that have yet to be disclosed.....if no agreement can be made, the judge can direct a chapter 7 liquidation but that is a rare occurrence and someone could still buy the pieces they want and reopen the Remington brand without the overarching prior debt. This is also the reason you should never buy a company enblock but do an asset only purchase and re establish a new corporation to own the company. That way all prior liabilities, known or not, do not follow the company to the new owner.....ie the liability for Remington 700 triggers sold prior to the takeover.

 

[Boboclown]

Its not like their lack of quality control caught up to em or anything... Almost gave a Remington 700 a chance, but opted not to.

I hope that if they do stick around, they improve on QC, and even the Q part.

 

[Argonaut]

Its not like their lack of quality control caught up to em or anything... Almost gave a Remington 700 a chance, but opted not to.

I hope that if they do stick around, they improve on QC, and even the Q part.

They are still the most common builders of military sniper rifles. You will never see a Savage in use. If there Quality has been diminished, it is from trying to compete with the flood of cheep junk rifles that have beeen thrown at the public. Between my brother, kids and I, we own probably a dozen 700's. The newest one I bought about 4 years ago, a LH 700P in 308. It will consistently shoot one hole 3 shot groups at 100 yards, it is the most accurate of all of the rifles we own including my original M24 and the 700BDL 7mm Mag I bought 40 years ago and have used to hunt on 3 continents with. Spend a little money and buy the rifles that are not designed to compete with the lowest quality rifles on the market and you will have a tool equal or better than any high quality on the market. Most use the 700 as a basis for there best custom builds.

 

[Boboclown]

Only way I'd have a 700 at this point is if I start from the receiver itself. Either their quality went down or their quality control went down. Regardless, Cerberus did not do them any good.

Almost considered a 700, but decided to spend twice the cash for something else with controlled round feed instead.

 

[Basedgreaser]

I expect Colt to go under this year.

If they were smart they would reintroducethe python

 

[Basedgreaser]

On the topic of remington was there ever a rolling block in 30-06?

 

[Argonaut]

On the topic of remington was there ever a rolling block in 30-06?

Have never seen one but they did make 7X57.......shouldn't be a problem to make an 06

 

[P7M13]

Chapter 11 can even be used to break a union contract.

And also diminish or eliminate pension liability.....