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Has Remington been saved ?

Discussion in 'General Gun Discussions' started by SharpDog, May 18, 2018.

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  1. SharpDog

    SharpDog Member

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    I certainly hope that the poorer-performing manufacturers like Remington get their act together. It would be a shame to see these legacy brands fail.

    BREAKING: Remington Emerges From Chapter 11 Bankruptcy:



    http://www.thefirearmblog.com/blog/2018/05/17/remington-emerges-bankruptcy/
     
  2. Pat Riot

    Pat Riot Member

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    That is good news. Glad to hear it. Thank you.
     
  3. 22250Rem

    22250Rem Member

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    Heard of that earlier today and it was welcome news. It was sad to see a famous name like Remington enter bankruptcy. I was wondering how much of their operation is left in Ilion NY. A lot of that company is in other lower tax states now and with the financial and regulatory burdens along with the NY state government's hostility towards all things firearm I surprised they have any presence at all in the state they were founded in over 200 years ago. The bottom line at Remington could be enhanced with a complete move to a more business friendly state; much like Weatherby's recent announcement about moving from California to Wyoming.
     
  4. jmr40

    jmr40 Member

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    Remington has a LOOOONG way to go. The Bankruptcy only delayed some lawsuits that are still working their way through the courts. They have been paying out millions of dollars to settle lawsuits for years and before this is all settled may be forced to repair, replace, or reimburse owners of about 7 million rifles with bad triggers going back to 1940's production.

    These millions paid to lawyers and plaintiff's over the last 50 years is why they can't afford to build quality guns anymore. I don't see this problem going away any time soon.
     
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  5. sota

    sota Member

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    and then there's the texas incident just today; apparently the kid used an 870. you know the antis will make hay with that.
     
  6. SamT1

    SamT1 Member

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    Too bad they can’t default on all the lawsuits. That may fix a lot of what’s wrong with America.
     
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  7. Derek Zeanah

    Derek Zeanah System Administrator Staff Member

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    Everyone buy a lottery ticket.

    If one of us wins maybe we can buy and resurrect the company...
     
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  8. ontarget

    ontarget Member

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    Now there is a good idea. We could start a Mega millions pool and WHEN we win invest in our own brand. THR Arms Co.
     
  9. Derek Zeanah

    Derek Zeanah System Administrator Staff Member

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    We could have a Low Road Brands division too, for things like PGO shotguns, zip guns, and Glock clones. :evil:
     
  10. Tirod

    Tirod Member

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    The math looks good, what remains is for Remington to make good guns people want to own. The Tac14, 870, etc are working. REM: Note you don't put big fancy R's on those, so stop with doing that on the others. It doesn't sell. What sells is brusque understated script held to the minimum, form follows function, and an absence of curving organic lines.

    Give us machines to shoot and we like them. It's what they are and what they do.
     
  11. FROGO207

    FROGO207 Member

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    I feel it is like bypass surgery. How it goes depends on them making the best possible decisions from here on out. You can't make money by cheapening items made with shoddy workmanship and poor fit and finish. IMHO they have a steep hill to climb for sure. Oh yea, I bought that lottery ticket today.:thumbup: I will insist on a frog logo.:D
     
  12. CraigC
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    CraigC Member

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    Reputations for low quality control are tough to overcome. Think about all the people who won't buy American cars or badmouth Colt, Uberti and Harley-Davidson due to a reputation earned 40yrs ago. Reputations are easy to ruin and very slow to rebuild.
     
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  13. gunlaw

    gunlaw Member

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    Maybe they can bring back Para. Way better 1911’s than the Remington.
     
  14. hdwhit

    hdwhit Member

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    We won't know whether this is good news or not until we see what direction the new owners (who were formerly the people who held that $700+ million in debt) intend to take the company.

    One thing is certain; they didn't trade $700+ million in debt plus sign on for $100+ million more in debt to satisfy the owners of current Remington firearms' thirst for nostalgia.

    They somehow think they see a way forward in the post-Trump marketplace to cut costs and increase margins sufficiently to make sales of Remington products profitable enough to pay back the better part of a billion dollar investment before their double-digit ROI requirements make it worthless. I wish them luck. I know they've got access to some really smart, savvy people who probably know a lot more about making the turn-around work than I do. But I'm afraid too many of them have MBAs from the same kind of school where I got mine and they preach a dispassionate focus on the bottom line without regard to the long-term health of the brand. :eek:
     
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  15. George P

    George P Member

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    Until you get rid of investment banker-types of owners who do not care about a company long-term, this is putting a bandaid on a severed artery.......
     
    NIGHTLORD40K likes this.
  16. godale

    godale Member

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    I hope they can survive .
     
  17. G'dale Mike

    G'dale Mike Member

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    I saw they have a souped up 1911 double stack, named after, test fired by one of their competitive shooters. Looks like a nice piece.
     
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