Remington does it again... Bankruptcy No 2.

[Tommygunn]

...... The smartest gun for a company to produce is the one that makes the most money.

Bingo!

 

[D.B. Cooper]

They basically said they’d stop selling popular guns and focus on contracts. They’d never sell enough to police departments to stay afloat.

Wasn't that Colt's plan for a while?

bwahahahahaha

 

[danez71]

Does his mean Marlin is gone too?

 

[DocRock]

I have worked with the Navajo on several deals. First, it is not clear from the reports whether any bid would be from the Navajo Nation proper, or from a charter semi independent business like the Navajo Transitional Energy Company that recently became the third largest coal producer in the country. I would not put much stock in the 'smart gun' business plan. That's the sort of nonsense they spin to appease their "Progressive" supporters in Congress. The Navajo are smart and, as Indian tribes go, well governed. If they buy Remington, their main focus will be return on investment.

 

[Trey Veston]

My grandfather was a die-hard Remington man. He owned three firearms that covered all of his hunting needs, all Remingtons. I now own two of them.

Before inheriting them, I had owned an 870 and an 1100 years ago and they were fine guns.

I'd heard the nightmares about QC in recent years but was told that their R1 1911s were exceptional guns for the price. Picked one up a month or so ago for an unbelievably good price and have been very impressed with it's fit and finish.

 

[Ignition Override]

It would be nice if Remington continues--without a break--to produce the lower-priced > ammunition.<

My handguns are CZ, Sig (Germany), Walther and a single 3rd. Gen S&W. No rifles from Remington either.

 

[jeff-10]

Wasn't that Colt's plan for a while?

bwahahahahaha

Colt had an even better plan. On the eve of the largest run on AR-15's in the history of gun sales, stop selling them and concentrate on 357 Magnum revolvers.

 

[mcb]

As dour as I was last night I would say things are still fairly uncertain. The second bankruptcy is all but certain. The deal with the Navajo Nation is slightly less certain. Even more uncertain is what fate lies for the Remington family of brands. The assumption is if the Navajo Nation actually goes through with the purchase they are going to radically change the company but we just don't know for sure. The bankruptcy from 2018 was a simply pre-package deal that did reduce Remington debt by a huge percentage and transfer ownership for Cerberus to JP Morgan & Franklin Templeton, but it did not change the legal jeopardy the company was in due to the 700 fire control lawsuits or the Sandy Hook lawsuit.

https://www.msn.com/en-us/money/com...uptcy-seeks-sale-to-navajo-nation/ar-BB160Dmj

This article seem to imply that the form of bankruptcy the company is going through this time might free the new owners of the legal entanglements. Not sure how that works and why it could not have been done in 2018 but that would be an interesting development in the company's favor. All be it in the face of the radical (suspected negative) changes the Navajo Nation's plans for the company.

Time will tell but it sure looks like the Remington our fathers knew is likely not going to come back from this second bankruptcy.

 

[mcb]

Colt had an even better plan. On the eve of the largest run on AR-15's in the history of gun sales, stop selling them and concentrate on 357 Magnum revolvers.

Remington did the dame thing. Remember at the beginning of this year Remington killed off Bushmaster and DPMS and sold their remaining stock of guns and parts off in a fire-sale we are still seeing the dregs of pop up on various bargain internet retailers. Though most of it is now gone.

 

[tubeshooter]

I can't help but wonder what this means for Marlin.

Also, the H&R Pardner Pump. If this goes away also, I guess the pump shotgun market pretty much just got handed over to Mossberg.


All that is bad enough. But for me the worst thing is that we would lose a solid ammo manufacturer that we have counted on for years. It is nice to have Thunderbolts, Golden Bullets, UMC and Core-Lokt around. Even if you say you don't care for/won't miss the Remington guns themselves.

 

[STI]

ALSO not mentioned the double stacks from the PARA buy.

 

[alsaqr]

Remington was robbed and loaded down with debt by the previous owners, Cerberus Capitol Management.

 

[Zendude]

One scenario might be that the company goes completely under and all assets are auctioned. Then, another entity will buy the Remington trademark name sort of like Springfield.

 

[Speedo66]

Remington takes over Marlin, quality goes down the drain and all but destroys Marlin's good name.

Remington makes a pistol, the R51, well, we all know how that went.

Remington makes bulk .22 ammo, Thunderduds, probably the less said the better.

Hate to see any firearms company go under, but they make absolutely nothing I have any interest in, and haven't for decades.

 

[J-Bar]

No comment about Remington guns, but I like their STS shotshells and #10 percussion caps, both of which are preferred by cowboy action competitors using blackpowder. Here’s hoping they can find a way to keep this tiny marketing niche happy!

 

[.455_Hunter]

I would seriously doubt anybody would want to close-down Remington's ammo production in the current climate.

 

[George P]

Hopefully, the ammo side will not be included - that side makes money

 

[Texas10mm]

ALSO not mentioned the double stacks from the PARA buy.

Those were killed off in 2018. Remington made ONE batch of double stack 1911 pistols and that was it. I think they used up the stock of Para parts and that was it. The rear sight on mine is marked Para.

 

[Steve S.]

I seem to remember a Calvary Lt. Colonel named George something or other saying something about Indians having guns; around some little or big river I think. Anyway, I do remember that those Indians turned things around at that place - maybe they can do the same for Remington.

 

[rscalzo]

Do police departments even want smart guns?

no. Budgets aren't fat enough to dump what they have and buy some new and totally untested product. Maybe they want the property???

The only thing that interests me in the slightest are their shotguns. But they cheapened them with the Express line that even that's a stretch. No one is going to miss their AR lines.

 

[Slappy White]

The only way to fight that is for millions of gun owners to not spend a penny on anything even remotely connected to the future Remington. No one is going to want to dump all of the casino profits into a money pit of "smart guns" that no one will buy. Problem is, if they find a way to make it work, Congress will legislate it into mandatory existence for everyone.

But if they found a way to make it work, could that maybe eventually be a good thing?

 

[Texas10mm]

But if they found a way to make it work, could that maybe eventually be a good thing?

NO!

A smart gun is tied to ONE user. Who's to say that the Government would not have the ability to shut down your "smart gun".

A "smart gun" is as necessary to a Free People as a bicycle is to a fish.

 

[748]

It's 2020, if smart guns were going to actually work we would have had them in the 1990s.
The only market for smart guns is where people are faced daily with the real possibility of some one taking the person's gun and using it on them. Such as police.

 

[NIGHTLORD40K]

Forget smart guns, the future LE market is going to be in Less/Non Lethal weaponry. Pretty soon beat cops wont have firearms at all, only SWAT and special units/ supervisors.

We will also see more automated/autonomous/drone policing since they are disposable (or attributable), record everything, can be remotely supervised and controlled, and cant be accused of being racist.

 

[D.B. Cooper]

But if they found a way to make it work, could that maybe eventually be a good thing?

NO!

In addition to the many other reasons to oppose smart gun tech, it also serves the purposes of driving up costs, like all other government regulations; it will essentially be a tax on guns.

The greater risk, however, is that states like California and Mass. will create a list of of "approved" guns for ownership, such as they already have, and they will simply state that only guns with smart gun technology are approved for ownership, wiping out legal gun possession in those states in an instant. California has already banned every handgun without a magazine safety in this manner.