Thread: Remington Filing for Receivership in the States

Remington Filing for receivership in the States
Just seen this news item and I thought it prudent to share if it is not common knowledge yet:

https://www.msn.com/en-us/money/comp...160Dmj?ocid=sf

Regards Peter

Isn't this like the third time in the last few years, Govt Bailouts or whatever.

Yeah, I think that have a standard sheet printed out to use.

............. again.

They often make shit quality rifles and fail to support their own cartridges. If they had backed the .260 Rem the same way that Hornady has the 6.5 Creedmoor, it would likely be hugely popular.

I don’t have anything against Remington and hope they recover. In fact, I just bought a CDL SF in .270, which is actually well made and nice to use.

Originally Posted by Spitfire

In fact, I just bought a CDL SF in .270,

Goddam,
Well.... I guess if you have a mouse issue you must deal with it the best way you can.

True enough. The variety of magnums in my safe will take care of the rats.

They have done this before. Its a "chapter 11 application".

https://www.investopedia.com/terms/c/chapter11.asp

All over the civil lawsuits after the school shootings over there.
If they go bankrupt those suing wont get a cent and the new buyers aren't lumbered with paying anything out. Smart really.

Not just that @cambo. Remington has failed for decades to update their main manufacturing plant. The Ilion, NY plant is on the site of the original factory from 1820 something, the last time it had a major upgrade was World War 1. I watched a documentary several years ago about Remington that I’ve been trying to find on YouTube but no luck, it was really interesting. The tooling and machinery was antiquated then. Then there’s the problem of their new plant down south for AR15 and pistols which they built in 2012-14, and was funded by debt that the company couldn’t afford in a market of declining sales post-Trump’s election. They completely failed to see that coming and had been assuming that arms and ammunition stockpiling would continue unabated under Clinton, plus of course the Bushmaster lawsuit post-Sandy Hook. They got their numbers horribly wrong on that plant.

Slowly but surely there has been a decline in quality in their traditional rifle products, especially at the bottom end in the budget models like the SPS, most of which to my mind are a pile of junk. If you want a decent quality lower priced Remington, then buy a Bergara. Then the high end models started to suffer from serious competition from other brands, and the unthinkable shift in consumer sentiment to actually buying something not made in America.

At the budget higher volume end of the market, Legacy Sports for example has been very smart with Howa, getting the message about the Hogue stock and diversifying their rifles really smartly to take advantage of the Tacticool craze, but also using third party suppliers for lightweight decent quality hunting rifle stocks. Their marketing has been spot-on and they have made some real inroads into Remington‘s traditional market.

But also there is the problem of low morale, which is a killer for companies in a challenging world, the minute the workforce gets the shits, you’re in trouble. Moving parts of their Ilion plant to other parts of the country went down like a cup of cold sick with their traditional employee base in New York State, and they’ve never managed to recover the quality that we consumers demand. The trigger lawsuit debacle really, really hurt the brand, and the massive growth of Internet forums hasn’t helped either because now everyone with an axe to grind gets to tell everyone else.

So yeah taking out a lot of debt to try and modernise their business, and getting the sales numbers wrong, pissing off the blue collar shop floor guys, it all contributes to having to file for bankruptcy.

Interestingly, there has been a significant uptick in weapons sales in the US this year, Sturm Ruger for example was in big trouble last year, but now their share price is sharply up. This is of course driven by the stark realisation that their president is a fuckwit and will quite possibly lose the election... then there’s Covid, and a typically Yankee response to a resurgence of the civil rights movement. I’m sure Remington will survive but at some point strong leadership will be required to get them out of New York state and into one of the redneck states where they can operate relatively free of the kind of political pressure they are getting now. But they need to modernise very quickly.

Originally Posted by Flyblown

Not just that @cambo. Remington has failed for decades to update their main manufacturing plant. The Ilion, NY plant is on the site of the original factory from 1820 something, the last time it had a major upgrade was World War 1. I watched a documentary several years ago about Remington that I’ve been trying to find on YouTube but no luck, it was really interesting. The tooling and machinery was antiquated then. Then there’s the problem of their new plant down south for AR15 and pistols which they built in 2012-14, and was funded by debt that the company couldn’t afford in a market of declining sales post-Trump’s election. They completely failed to see that coming and had been assuming that arms and ammunition stockpiling would continue unabated under Clinton, plus of course the Bushmaster lawsuit post-Sandy Hook. They got their numbers horribly wrong on that plant.

Slowly but surely there has been a decline in quality in their traditional rifle products, especially at the bottom end in the budget models like the SPS, most of which to my mind are a pile of junk. If you want a decent quality lower priced Remington, then buy a Bergara. Then the high end models started to suffer from serious competition from other brands, and the unthinkable shift in consumer sentiment to actually buying something not made in America.

At the budget higher volume end of the market, Legacy Sports for example has been very smart with Howa, getting the message about the Hogue stock and diversifying their rifles really smartly to take advantage of the Tacticool craze, but also using third party suppliers for lightweight decent quality hunting rifle stocks. Their marketing has been spot-on and they have made some real inroads into Remington‘s traditional market.

But also there is the problem of low morale, which is a killer for companies in a challenging world, the minute the workforce gets the shits, you’re in trouble. Moving parts of their Ilion plant to other parts of the country went down like a cup of cold sick with their traditional employee base in New York State, and they’ve never managed to recover the quality that we consumers demand. The trigger lawsuit debacle really, really hurt the brand, and the massive growth of Internet forums hasn’t helped either because now everyone with an axe to grind gets to tell everyone else.

So yeah taking out a lot of debt to try and modernise their business, and getting the sales numbers wrong, pissing off the blue collar shop floor guys, it all contributes to having to file for bankruptcy.

Interestingly, there has been a significant uptick in weapons sales in the US this year, Sturm Ruger for example was in big trouble last year, but now their share price is sharply up. This is of course driven by the stark realisation that their president is a fuckwit and will quite possibly lose the election... then there’s Covid, and a typically Yankee response to a resurgence of the civil rights movement. I’m sure Remington will survive but at some point strong leadership will be required to get them out of New York state and into one of the redneck states where they can operate relatively free of the kind of political pressure they are getting now. But they need to modernise very quickly.

A notable gun Forum in the USA has a special section for Tikka rifles. It is probably the most used section after the Reloading section.I have read it for a number of years. No mention ever of Remington rifles.Then again Tikka is doing to Sako what it deserves.

The article mentions the possible sale to the Navajo nation.

There's gotta be some kind of irony there.

It is about time really. I have been a firearms consumer for 12 years and I only ever heard of Remington's glorious days in past tense, never about any great product today. They low end rifles are bad, their bulk ammos are bad, they high end rifles cannot compete against their peers. Not a single category Remington has a competitive product. 12 years is a long time. It is amazing it lived this long.

Like others I’ve owned plenty of Remingtons over the years but the best Remington I have owned and still own is a Model 700 built in 1968 that was a safe queen I stumbled across

The stock beautifully made & feels great, the action is slick, smooth with the whole rifle put together superbly with accuracy sub minute.

They were too advanced in the 90's ( first carbon wrapped barrels, electric primer and ignition...), they completely failed the launch of the 260 remington. It should have been in a 1 in 8" twist barrel with a couple of hunting loads and a match load or two, and into not only hunting rifles but their varmint and tactical rifles. It was right when long range shooting was starting to get popular and they completely missed the boat. The 300 ultra mag and the 7 saum remain excellent cartridges.

They should have sold rifles in 6.5 creedmoor years ago. Same thing with the 6.5 prc and 300 prc, they should have jumped on those calibers straight away. They would have sold like hot cakes.
They are lucky to still have major military contracts with the us arm forces.

I don't know much about all that stuff,
so I'll just stick with my 788's