The sun set on Webley and Scott eventually, and had a (short lived? or still in production?) resurrection by Howa that had absolutely nothing (beyond pipe dreams) to do with the original Webley and Scott company. I don't see an end to Remington as nothing but a marketing label (with good or bad associations) a bad thing at this point in the firearms industry. Bethlehem steel was once far more revered than Kobe or Sumitomo until performance based reasons to ceased to exist.
Remington does it again... Bankruptcy No 2.
- Thread starter mcb
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I still want an 870 for less than 250
daniel craig
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dh1633pm
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Got an update today. Remington production is at a standstill. Suppliers won’t deliver without cash on receipt. Profits during the fat years were taken for bankers who basically own the company. No rainy day fund. My friend who works there was called back to work today. He just got out of the hospital last weekend for COVID. His quarantine is up the 20th. Funny being asked to return to work when there is no work. He mostly works for Marlin.
He said S&W stopped by Monday for a visit. Who knows. He said unknown visitors today.
He is of the opinion that Bushmaster and DPMS were closed because of the Sandy Hook law suite. It allowed Bankrupcy since both were making a profit. Closed instead of selling because who want to acquire something that might cost you a bunch in litigation. Again, this was his thoughts. Who knows the thoughts of company officers.
He said S&W stopped by Monday for a visit. Who knows. He said unknown visitors today.
He is of the opinion that Bushmaster and DPMS were closed because of the Sandy Hook law suite. It allowed Bankrupcy since both were making a profit. Closed instead of selling because who want to acquire something that might cost you a bunch in litigation. Again, this was his thoughts. Who knows the thoughts of company officers.
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mcb
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I have heard that several other gun and ammunition makers have gotten tours of the Huntsville and Lonoke plants. The real question is, is the judge going to break up the assets or have them auctioned off in one big lot. Would seem to be better to break it up by facilities rather than one lump sum or by brands since the distinctions between brands is on paper only.
dh1633pm
Contributing Member
Good question MCB. I will report what I find out. Keep in mind, rumor, hearsay and conjecture. I can say that I was at a Brew Pub down south with my brother in law years back. Married to my wife’s sister. He said “I was offered the job as CEO at Remington”. “Should I take the job”. He was concerned with the chairman of the board and his level of honesty. I told him, you have made your way in life already. They don’t pay you enough to work for those who you don’t feel are honest. He declined the job. Probably not from my advice. He loves firearms. Let me shoot his HK and Sig pistols. They were sweet.
Fabrique Nationale may as well add it to their collection. They already own Browning and Winchester. Perhaps if Molot or Tula picked it up, we could finally have a well made domestic Kalashnikov. One of the Israeli arms manufacturers could shake things up a bit. Just please don't let it be Umarex.
If I were a betting man I'd say that Ruger would be looking to pick up something. They lack a pump shotgun in their lineup.
I'm REALLY hoping that someone revives the Para-Ordnance line.
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mcb
Member
Ruger could also use Marlin lever-guns to pair with their single action pistols in the same caliber. But I have not heard Ruger's named mention yet here in Huntsville, but that does not mean too much.
Para Ordnance was out of date before Remington bought them. They may have started the double stack 1911/2011 "fad" but they has failed to keep up with the SV and STI and other as the 2011 matured. The only good thing Para had was the LDA but that is a pretty niche feature that you either love or hate.
Good thought on the lever guns.
Para style pistols are much less expensive than Staccato or SVI pistols. I have one of the Remington double stacks and it's a great pistol. Mags are less expensive and they work. RIA can't keep their Para style 1911 pistols in stock. There is a demand for a good double stack 1911 that doesn't cost north of $2000 and take $100+ mags.
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mcb
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Agree'ed I have one of the Remington double stacks too, an R1 Limited in 40S&W. It's a good gun and there was certainly a good niche for it in the market. Never made sense after putting all the effort into bring them back, after absorbing Para, as the R1 Limited that they just as quickly dropped it from their product line. My R1 Limited still has Para marked parts in it so they never fully used up the Para stock of parts despite the newly revised frame and magazine the R1 Limited used. Remington has made some strange business decisions for sure.
Poper
Member
That's what happens when the Bean Counters take control. Same thing happened to Chrysler in the mid-to-late '70's. Took a man with the necessary knowledge of the industry, a vision and a forceful personality to drive the company successfully forward.
Garandimal
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mcb
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It appears the Auction has been set for September 17 at 10AM CT
https://cases.primeclerk.com/RemingtonOutdoor/
https://cases.primeclerk.com/RemingtonOutdoor/
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mcb
Member
More interesting developments.
https://cases.primeclerk.com/RemingtonOutdoor/Home-DownloadPDF?id1=MTU4NDQxNg==&id2=0
JJE Capital Holdings, owners of Palmetto State Armory has come forward as a Stalking Horse Bidder for the ammunition business side of Remington. Not sure if that is just Lonoke or if it also includes Barnes. I believe this is currently the only Stalking Horse Bidder to come forward so far. Eight more days...
ETA: A actual new article about said same.
https://www.wsj.com/articles/bankru...ion-offer-for-ammunition-business-11599680366
https://cases.primeclerk.com/RemingtonOutdoor/Home-DownloadPDF?id1=MTU4NDQxNg==&id2=0
JJE Capital Holdings, owners of Palmetto State Armory has come forward as a Stalking Horse Bidder for the ammunition business side of Remington. Not sure if that is just Lonoke or if it also includes Barnes. I believe this is currently the only Stalking Horse Bidder to come forward so far. Eight more days...
ETA: A actual new article about said same.
https://www.wsj.com/articles/bankru...ion-offer-for-ammunition-business-11599680366
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SSN Vet
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Random thoughts:
1.) Apparently the Navajo nation runs several businesses. A buyer at one of our customer's took a job with them several years ago. She called our sales rep. when she needed product and our president and the rep. flew out to AZ to meet with her and see the operation. They came back very unimpressed and nothing ever came of it.
2.) From my vantage point, the American Indian nations have a bad habit of getting ripped off when it comes to business investments with Wall Street types.
3.) The exception to #2 is when they leverage their "special status". (you know... one set of rules for them and a different set of rules for everyone else). This usually involves casino's. This doesn't fly in the world of business, where you usually have to compete on a more-or-less level playing field to convince customers to open up their wallets.
4.) The only way I can see the Navajo's making a go at this is if they try to leverage special political ideas (like the smart gun or micro-stamping) to effectively getting the government to grant them some kind of monopoly.
1.) Apparently the Navajo nation runs several businesses. A buyer at one of our customer's took a job with them several years ago. She called our sales rep. when she needed product and our president and the rep. flew out to AZ to meet with her and see the operation. They came back very unimpressed and nothing ever came of it.
2.) From my vantage point, the American Indian nations have a bad habit of getting ripped off when it comes to business investments with Wall Street types.
3.) The exception to #2 is when they leverage their "special status". (you know... one set of rules for them and a different set of rules for everyone else). This usually involves casino's. This doesn't fly in the world of business, where you usually have to compete on a more-or-less level playing field to convince customers to open up their wallets.
4.) The only way I can see the Navajo's making a go at this is if they try to leverage special political ideas (like the smart gun or micro-stamping) to effectively getting the government to grant them some kind of monopoly.
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mcb
Member
And if I may wax cynical for a moment. I wounder how long after Remington get auction off and likely broken up, will people remember Remington foundly rather than Rusty 870s, el-chepo Remington 770s, ad
The Navajo Nation is a non-player. It turned out they were never super serious about it and pull out of any negotiations and interest in Remington clear back in July.
The Navajo Nation is a non-player. It turned out they were never super serious about it and pull out of any negotiations and interest in Remington clear back in July.
Garandimal
member
Total number of firearms manufactured in the US keeps going up every year. Remington's failure is proof of how diverse the industry is. The guns they manufacture are no longer desirable and consumers have chosen to buy instead from companies that make what people now want. Remington will go the way of former industry leaders like Winchester, Iver Johnson, and Harrington & Richardson. Does anyone miss them?
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MAKster, with no intention of being argumentative nor to derail the threat.
However, if you go around the world and ask for US brands on firearms they will say first Winchester, S&W and Remington.
The day our government decide that export firearms is just another commodity as cars, Umarex will be the looking for partner not us.
However, if you go around the world and ask for US brands on firearms they will say first Winchester, S&W and Remington.
The day our government decide that export firearms is just another commodity as cars, Umarex will be the looking for partner not us.
George P
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Reuters) - Remington Outdoor Company has announced a bid for its ammunitions business from JJE Capital Holdings LLC, a South Carolina-based private equity firm, for $65 million in cash.
See also https://sgbonline.com/remington-lines-u ... -business/ .
The JJE bid is one of a number that have been received, both for Remington as a whole and for individual business lines. Most haven’t been made public yet. The bankruptcy court has until September 17th to accumulate all bids and then will finalize the sale(s) on September 24th.
Here's a link to JJE Capitals holdings....
porfolio
https://jjech.com/portfolio-companies/
See also https://sgbonline.com/remington-lines-u ... -business/ .
The JJE bid is one of a number that have been received, both for Remington as a whole and for individual business lines. Most haven’t been made public yet. The bankruptcy court has until September 17th to accumulate all bids and then will finalize the sale(s) on September 24th.
Here's a link to JJE Capitals holdings....
porfolio
https://jjech.com/portfolio-companies/
theotherwaldo
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