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Cliffs on Remington bankruptcy
Posted on 1/25/21 at 6:39 am
Posted on 1/25/21 at 6:39 am
Does anyone have links to good articles or a good explanation on how Rem went under during the most insatiable periods of gun and ammo buying in history?
I can't imagine how bad the management must have been.
I can't imagine how bad the management must have been.
10
Posted on 1/25/21 at 7:08 am to Strannix
Their products were shitty.
End of story.
End of story.
Posted on 1/25/21 at 7:15 am to Strannix
Owned by an investment bank that was out of touch with its customers. Made a bunch of shitty products that resulted in a ton of lawsuits and recalls. Damage was done and even bullets sold at 2$ a piece was not going to right the ship.
Posted on 1/25/21 at 7:16 am to Strannix
Posted on 1/25/21 at 7:22 am to Strannix
They bought several other brands and turned them into crap. On top of that their own quality nose dived.
They somehow screwed up the 700 rifle with shoddy build quality and had a huge recall for their best known and best selling firearm product.
They were also being sued by the parents of Sandy Hook because they owned Bushmaster.
They took on too much, too fast and suffered for it after being acquired by an investment firm. On top of that their management was just woefully incompetent.
Results of the bankruptcy:
1. Vista Outdoors got the lion's share of their ammunition business.
2. Roundhill Group got most of the Non-Marlin Firearms Business.
3. Sierra Bullets got the Barnes Ammunition side of Remington.
4. Ruger got Marlin.
5. JJE Capital Holdings got DPMS, H&R, Stormlake, AAC, and Parker Brands. (JJE Capital is the parent company of PSA)
6. Franklin Armory got Bushmaster.
7. Sportsman's Warehouse got the Tapco brandon.
They somehow screwed up the 700 rifle with shoddy build quality and had a huge recall for their best known and best selling firearm product.
They were also being sued by the parents of Sandy Hook because they owned Bushmaster.
They took on too much, too fast and suffered for it after being acquired by an investment firm. On top of that their management was just woefully incompetent.
Results of the bankruptcy:
1. Vista Outdoors got the lion's share of their ammunition business.
2. Roundhill Group got most of the Non-Marlin Firearms Business.
3. Sierra Bullets got the Barnes Ammunition side of Remington.
4. Ruger got Marlin.
5. JJE Capital Holdings got DPMS, H&R, Stormlake, AAC, and Parker Brands. (JJE Capital is the parent company of PSA)
6. Franklin Armory got Bushmaster.
7. Sportsman's Warehouse got the Tapco brandon.
This post was edited on 1/25/21 at 7:24 am
Posted on 1/25/21 at 7:30 am to BayouBengal51
quote:
Vista Outdoors got the lion's share of their ammunition business.
they are printing money now
Posted on 1/25/21 at 7:35 am to BayouBengal51
Sad they went downhill so much. I have an 870 Wingmaster from the 70s and that thing is a tank.
Posted on 1/25/21 at 7:39 am to Strannix
Private equity firm bought them and loaded them up with debt. They had so much debt, it didn’t matter how much they sold. Now, the equity firm didn’t really care and they weren’t run real well, but it wouldn’t have mattered how much they sold. They were going to go under.
If you’ve ever watched the Sopranos episode where Tony and his crew take over the sporting goods store from the guy with gambling debt, then you’ll understand exactly what. Cerebus did to Remington.
If you’ve ever watched the Sopranos episode where Tony and his crew take over the sporting goods store from the guy with gambling debt, then you’ll understand exactly what. Cerebus did to Remington.
Posted on 1/25/21 at 8:34 am to BayouBengal51
quote:A Marlin 336 with Ruger quality standards and customer service?
4. Ruger got Marlin.
Posted on 1/25/21 at 8:43 am to BayouBengal51
quote:
JJE Capital Holdings got DPMS, H&R,
Will the Handi rifle make a comeback? I have 2 of them.
Posted on 1/25/21 at 9:03 am to LSUlefty
quote:
Will the Handi rifle make a comeback?
I like the Handi too. I’d imagine they sold a good many of those just for Louisiana and Mississippi primitive seasons.
Posted on 1/25/21 at 10:19 am to upgrade
Yep. I have 4 boxes of .444 which will probably last me forever. I only hunt with it the last week of January.
Posted on 1/25/21 at 10:23 am to TideCPA
quote:
4. Ruger got Marlin.
A Marlin 336 with Ruger quality standards and customer service?
I thought the same. That's a great acquisition for both parties
Posted on 1/25/21 at 10:28 am to fallguy_1978
quote:
Sad they went downhill so much. I have an 870 Wingmaster from the 70s and that thing is a tank.
I have an 870 Express that I got new in 1990. It has been through hell and it’s still a beast. My favorite shotgun by far.
Posted on 1/25/21 at 10:36 am to Strannix
Remington knew they had issues with finishes on their 700s and 870s and did nothing about it.
Also, on the 700s the bolt on the guns are not "timed correctly". On guns that are not magnums, it won't be an issue until the action has several thousand rounds on it. Magnums will have issues much sooner.
The problem with this is that the engineers knew there was a problem but they didn't do anything about it (or the company wouldn't let them).
This is an issue on any 700 that has been produced in the last 5 or so years.
Also, on the 700s the bolt on the guns are not "timed correctly". On guns that are not magnums, it won't be an issue until the action has several thousand rounds on it. Magnums will have issues much sooner.
The problem with this is that the engineers knew there was a problem but they didn't do anything about it (or the company wouldn't let them).
This is an issue on any 700 that has been produced in the last 5 or so years.
Posted on 1/25/21 at 11:26 am to Strannix
Saw a video the other day the CEO of the company that bought the Remington plant in Loanoke, Ar is currently refitting it and plan to have it running this year to put out more ammo than it ever did.
He went into detail on the ammo shortage as well. Said it’s not the Govt doing it. He said first 3 years under Trump there was low demand and they didn’t produce much then demand skyrocketed during Covid and its been hard to get back to full capacity due to labor shortages and brass and other raw materials are hard to get due to those industries own Covid issues.
He went into detail on the ammo shortage as well. Said it’s not the Govt doing it. He said first 3 years under Trump there was low demand and they didn’t produce much then demand skyrocketed during Covid and its been hard to get back to full capacity due to labor shortages and brass and other raw materials are hard to get due to those industries own Covid issues.
Posted on 1/25/21 at 2:20 pm to Strannix
Sad to see what has happened to the brand. I have a hand-me-down 1100 (~40 years old) that is an absolute work horse.
Took down a green wing this weekend in Missouri with it.
Took down a green wing this weekend in Missouri with it.
Posted on 1/25/21 at 3:11 pm to VirgilCaine
Wish I knew more about their older products, need to keep my eye out for a good Remington to put in the safe.
Posted on 1/25/21 at 3:29 pm to Strannix
I bought two Remington products out of loyalty. I was mistaken.
Posted on 1/25/21 at 4:24 pm to Clames
quote:
Clames
80s/90s era Remingtons are darn tough.
I've got an 870 that you could use as a canoe paddle and it will still go bang.
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