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Remington Arms Files Bankruptcy During Surging Gun Demand

Good read! Remington has bitten off more than it can chew as far as manufacturing. If they just had stayed with the tried and true hunting rifles and shotguns, they wouldn't be in this mess. Instead, they "diversified" by buying out such companies as Bushmaster and Para. That takes capital. It wasn't just the lawsuits from the school shootings, either. Recall the Model 700 trigger fiasco. Fiscal blunders and poor strategic planning / management.

Regards,
Bill
 
Yea, the infamous 700 trigger issue, remember that quite well, I do like there 1911 R1 pistols, but I agree, they bought out to much like RangerBill stated, I just hope somebody pulls through and saves this historic company.
 
Annihilator said:
Yea, the infamous 700 trigger issue, remember that quite well, I do like there 1911 R1 pistols, but I agree, they bought out to much like RangerBill stated, I just hope somebody pulls through and saves this historic company.
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Don’t forget Marlin Firearms. Bought them now I wonder what will happen to that brand. 😡😞

I thought you couldn’t file bankruptcy twice within a 7 year period??
 
Annihilator said:
Additional link on this

www.gunsamerica.com

Remington Will Declare Bankruptcy in 2020 Despite Skyrocketing Gun Sales

Remington Arms, old Big Green, will be filing for bankruptcy in 2020. The company will be filing a petition for Chapter 11 bankruptcy in Decatur, Ala.
www.gunsamerica.com www.gunsamerica.com
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I said it before when Remington bought Marlin the “upper” management they brought in to run the company was a joke!
They had no idea how to run a business let alone a gun company. When I worked at Marlin for Frank Keena the owner he would come around on a regular basis and knew everyone by name. When Remington took over you were an employee number that’s all.
The company didn’t survive because of the classic saying.
To many chiefs and not enough Indians.
 
Keystone19250 said:
I said it before when Remington bought Marlin the “upper” management they brought in to run the company was a joke!
They had no idea how to run a business let alone a gun company. When I worked at Marlin for Frank Keena the owner he would come around on a regular basis and knew everyone by name. When Remington took over you were an employee number that’s all.
The company didn’t survive because of the classic saying.
To many chiefs and not enough Indians.
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1595970550740.jpeg
 
I just wonder if there isn't a bunch of business types that buy up these companies, grind them into the ground, and then bail with a "Golden Parachute"? You know upper management isn't going to take a financial hit, but the workers will get the shaft. But then again, the quality of some of their firearms as of late, from engineering to out the door, has been questionable. The RM380 pistol that was "re-introduced" a few years back had a total recall. That was a hit on Remington. I purchased a new Model 700 Varmint Rifle a few years back, and there was some considerable stock work I had to do before it shot worth a hoot. The trigger works fine so far, but the first sign of trouble and it's getting a Timney. And yes, I have a Remington R1 1911, and it shoots and functions well for a mil-spec gun. When product quality goes south, you know there is some trouble brewing at the company. Happy satisfied workers take pride in their work and don't turn out sub par product.

Regards,
Bill
 
RangerBill said:
I just wonder if there isn't a bunch of business types that buy up these companies, grind them into the ground, and then bail with a "Golden Parachute"? You know upper management isn't going to take a financial hit, but the workers will get the shaft. But then again, the quality of some of their firearms as of late, from engineering to out the door, has been questionable. The RM380 pistol that was "re-introduced" a few years back had a total recall. That was a hit on Remington. I purchased a new Model 700 Varmint Rifle a few years back, and there was some considerable stock work I had to do before it shot worth a hoot. The trigger works fine so far, but the first sign of trouble and it's getting a Timney. And yes, I have a Remington R1 1911, and it shoots and functions well for a mil-spec gun. When product quality goes south, you know there is some trouble brewing at the company. Happy satisfied workers take pride in their work and don't turn out sub par product.

Regards,
Bill
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I remember the Colt strike back in 1986, no workers in factory, they brought down office workers to produce there guns, quality, there was none, bought a new Python when this was going on, we took it out to the range, and the gun became a smooth bore, all the lands shot out, sent it back under warranty, when I got it back, I traded it off, blueing on replacement barrel didn’t match the frame, Colt basically said it was cosmetic and wouldn't refinish it. Haven’t bought a Colt since that time. Recently just bought a Colt, the new Cobra, it’s a great gun.
 
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Some good points that were brought up. Remington made some fine rifles. The model 700 and their shotguns were just known as some of the best. Colt, my goodness if you didn’t own a Colt you didn’t own a 1911. Fast forward to now and it’s not even close in quality and reliability. Not speaking on everything that comes of the line. I have been pleased with my shotgun and model 700. My Colt XSE is a great 1911. The “new” python, no thank you, for now at least. A new Colt 1911, no thank you. I’ll gladly take a Proffesinal from SA. Like I said I am also pleased with my Marlin lever action. Sometimes you get in over your head and quality goes downhill.
 
BangBang said:
Some good points that were brought up. Remington made some fine rifles. The model 700 and their shotguns were just known as some of the best. Colt, my goodness if you didn’t own a Colt you didn’t own a 1911. Fast forward to now and it’s not even close in quality and reliability. Not speaking on everything that comes of the line. I have been pleased with my shotgun and model 700. My Colt XSE is a great 1911. The “new” python, no thank you, for now at least. A new Colt 1911, no thank you. I’ll gladly take a Proffesinal from SA. Like I said I am also pleased with my Marlin lever action. Sometimes you get in over your head and quality goes downhill.
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They definitely got in deep water quadrupling there debt in just two years.
Bad business management is what it comes down to. If sales have been that good maybe someone at the top is funneling the profit into a personal bank account. Not the first time greed brings down a giant of industry.
 
Funwithfuel said:
I thought one of the Indian nations were in talks to purchase? Did that deal fall through?
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Apparently. Here's an excerpt from the article:
"Remington has been searching for potential buyers and was in talks to sell itself out of bankruptcy to the Navajo Nation before negotiations collapsed in recent weeks, leaving the company without a lead bidder, or stalking horse, in place."
 
Keystone19250 said:
I said it before when Remington bought Marlin the “upper” management they brought in to run the company was a joke!
They had no idea how to run a business let alone a gun company. When I worked at Marlin for Frank Keena the owner he would come around on a regular basis and knew everyone by name. When Remington took over you were an employee number that’s all.
The company didn’t survive because of the classic saying.
To many chiefs and not enough Indians.
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I actually forgot they bought out Marlin firearms, I‘m sure somebody will buy them out, but with today’s pressure on banks to cut ties with any gun manufacturers, I just don’t know.
 
Annihilator said:
I actually forgot they bought out Marlin firearms, I‘m sure somebody will buy them out, but with today’s pressure on banks to cut ties with any gun manufacturers, I just don’t know.
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Sadly you are correct, in the current business climate it will be a tough sell. Maybe this time the bankruptcy judge will demand they break up the company and sell it off instead of just excusing their debt which would just allow them to screw over more suppliers.
Going bankrupt twice in two years is inexcusable. If nothing else the ammunition division will/should survive and maybe a consortium will at least buy the Marlin Firearms division to keep that name alive. Sad times for sure.
 
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