Remington Finished

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Yes, I missed a trued Model 7 action on Gunbroker a few days back. Somebody hit "Buy Now" while I was thinking on it.
 
Looks like there are considerable obstacles to overcome between the new company and the new (reduced) workforce who were under a union contract with the former owners. I hope the parties can work through those issues and resume production.
 
I hope the new owners can unscrew Remington and make it great again. The previous owners literally sucked the life out of it. No doubt, the union had a hand in that. Time to start cranking out the old staples: 870, 11-87, 700, 760 7 and 7600. Oh, and ditch the plastic parts.
 
Don't hold your breath. The new owners of Remington (Now to be called RemArms LLC since Vista Outdoors owns the Remington copyright/trademark) includes Ken D'Arcy the former Remington Outdoor Company CEO that drove The Remington Outdoor Company into it's second bankruptcy a little over two years after the first. D'Arcy furloughed the entire Remington workforce as it entered the second bankruptcy with zero severance or accrued vacation pay and short changed dozens of suppliers out hundreds of thousands of dollars, and in a few cases millions of dollars for parts and material delivered that Remington never paid for and was then later sold off for pennies on the dollar before the bankruptcy. Ken was only CEO of Remington Outdoor Company for a bit over a year and had already been paid a $1/4M bonus above his salary (For what, god only knows, since it sure wasn't his profit numbers) and yet he puts in for a $2.76M draw from the Remington Outdoor Company estate and appears he will get paid that despite all the worker and supplies not get a penny in most cases.

One of the other new partners of the new RemArms LLC, Richmond Italia (part of Roundhill LLC that bought Remington Firearms out of the bankruptcy asset auction) bankrupted his own company, GI Sportz (D'Arcy had been the CEO of this company before coming to Remington) the month Remington got auction off in parts.

SO the bankruptcy brothers are now going to supposedly resurrect Remington and they think they are going to do it focused on hunting only firearms in a market where hunting is the fastest shrinking sector of the overall firearms market.

And just for fun it appears they are also attempting to break the union that represent most of the Remington employees in NY (United Mine Worker of America). That may or may not be a good thing depending on your opinion of unions.

I got a box of Remington Golden bullets that say we'll see a third bankruptcy before we see a healthy gun company in Ilion NY.
 
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@Nature Boy, yes, I've sold (or horse traded) a couple of Model 7s. I still have them in .223, .243 AI (Remage), 7mm-08, and 7 SAUM. Who knows what another action might eventually turn into? A 6 Creedmoor, or a 6.5 Grendel maybe ...
 
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The new owners of Remington (Now to be called RemArms LLC since Vista Outdoors owns the Remington copyright/trademark) includes Ken D'Arcy the former Remington Outdoor Company CEO that drove The Remington Outdoor Company into it's second bankruptcy...
Click to expand...

But does Rem Arms LLC actually include Ken D'Arcy? From what I see, he sits (or sat) on the board of directors of GI Sportz, a publicly traded company, founded by Richmond Italia of The Roundhill Group. Other than that, and news reports are that D'Arcy is the one that alerted Italia to Remington's sale, But I can't find an actual connection between D'Arcy and the Roundhill Group, or that D'Arcy is going to have any involvement in Remington.

I will admit, though, that neither Italia nor D'Arcy inspire much confidence that Remington will get turned around.
 
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Micro said:
But does Rem Arms LLC actually include Ken D'Arcy? From what I see, he sits (or sat) on the board of directors of GI Sportz, a publicly traded company, founded by Richmond Italia of The Roundhill Group. Other than that, and news reports are that D'Arcy is the one that alerted Italia to Remington's sale, But I can't find an actual connection between D'Arcy and the Roundhill Group, or that D'Arcy is going to have any involvement in Remington.

I will admit, though, that neither Italia nor D'Arcy inspire much confidence that Remington will get turned around.
Click to expand...

The connection is that D'Arcy and Italia have been business partners for years. D'Arcy is still claiming to be on the board and the CEO of Remington according to his Linked-In profile. If he was looking for a new job he might have updated that since they sold Remington almost a quarter ago. Knowing a few of the last employees still on the books with the old Remington Outdoor Group that are closing up the Huntsville plant D'Arcy is still involved. All expectation are they he will continue to be involved with RemArms. He did not put in for that $2.76M from the old Remington until Dec 9 just over a month ago. For RemArms sake I hope he is not going to be involved but all indication are it's likely.
 
Why would they close up the new facility in Alabama to keep that old relic in anti-gun NY is beyond me.
 
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George P said:
Why would they close up the new facility in Alabama to keep that old relic in anti-gun NY is beyond me.
Click to expand...
Ilion NY facility is roughly twice the square footage as the Huntsville plant, all be it, broken up over a dozen or so buildings each with 3-4 floors. It is the original home of Remington, not that that should matter much, but it does anyways. Ilion also houses all the hammer forges and rotary swaggers used for 700 barrels and shotgun barrels. Those machined are so large it would be prohibitively expensive to try to move most of them. The equipment in Huntsville all easily fits through a standard loading dock door. And finally Remington never owned the Huntsville plant, it was being purchased from the City of Huntsville at a reduce price assuming Remington met certain number of employment levels by certain dates. But Remington fell way behind on those employment number and also was way behind on their payments and as best as I can tell the bankruptcy and asset auction caused the building's ownership to be returned to the City of Huntsville.
 
My mistake, GI Sportz is not publicly traded. It's still privately owned.

I agree with mcb, the proximity of D'Arcy to RemArms, or whatever it is calling itself, it not encouraging at all. Videos of Richmond Italia convey an impression that he is junior league when it comes to running companies.

Time will tell.
 
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Well, I took the opportunity to buy a little Vista stock since they got the name, trademarks and ammo plant. Sorry for Remington, but it's been coming for a long time.
 
George P said:
Why would they close up the new facility in Alabama to keep that old relic in anti-gun NY is beyond me.
Click to expand...

The costs of closing or selling the Ilion site would be astronomical. It would likely end up being declared a Superfund site ;-) It is essentially too dirty to fail...
 
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mcb said:
Don't hold your breath. The new owners of Remington (Now to be called RemArms LLC since Vista Outdoors owns the Remington copyright/trademark) includes Ken D'Arcy the former Remington Outdoor Company CEO that drove The Remington Outdoor Company into it's second bankruptcy a little over two years after the first. D'Arcy furloughed the entire Remington workforce as it entered the second bankruptcy with zero severance or accrued vacation pay and short changed dozens of suppliers out hundreds of thousands of dollars, and in a few cases millions of dollars for parts and material delivered that Remington never paid for and was then later sold off for pennies on the dollar before the bankruptcy. Ken was only CEO of Remington Outdoor Company for a bit over a year and had already been paid a $1/4M bonus above his salary (For what, god only knows, since it sure wasn't his profit numbers) and yet he puts in for a $2.76M draw from the Remington Outdoor Company estate and appears he will get paid that despite all the worker and supplies not get a penny in most cases.

One of the other new partners of the new RemArms LLC, Richmond Italia (part of Roundhill LLC that bought Remington Firearms out of the bankruptcy asset auction) bankrupted his own company, GI Sportz (D'Arcy had been the CEO of this company before coming to Remington) the month Remington got auction off in parts.

SO the bankruptcy bothers are now going to supposedly going to resurrect Remington and they think they are going to do it focused on hunting only firearms in a market where hunting is the fastest shrinking sector of the overall firearms market.

And just for fun it appears they are also attempting to break the union that represent most of the Remington employees in NY (United Mine Worker of America). That may or may not be a good thing depending on your opinion of unions.

I got a box of Remington Golden bullets that say we'll see a third bankruptcy before we see a healthy gun company in Ilion NY.
Click to expand...

No defense of the odious D’Arcy intended or desired, but by October, Remington Outdoor was in bankruptcy and operating under Court and creditor direction. D’Arcy was, at that point, an errand boy.

Nevertheless, his involvement with bush-league Roundhill bodes no good.
 
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I for one was sorry to see Remington go. I've had a number of 600, 700's, 870's and even an XP-100 and all did exactly what I wanted them do do, reliably.
 
The Remington Nylon 66 is the greatest knock about .22 yet.

Maybe the new Remington could bring it back?

If only I weren’t dreaming.
 
DocRock said:
The costs of closing or selling the Ilion site would be astronomical. It would likely end up being declared a Superfund site ;-) It is essentially too dirty to fail...
Click to expand...
Which is why I do not get why they bid on it; unless all of that old equipment would be too large and expensive to move.
 
George P said:
Which is why I do not get why they bid on it; unless all of that old equipment would be too large and expensive to move.
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They didn’t have options. The bankruptcy court will have determined the assets split and the Remington firearms will have come with the Ilion facility.
 
DocRock said:
They didn’t have options. The bankruptcy court will have determined the assets split and the Remington firearms will have come with the Ilion facility.
Click to expand...

Actually "Remington" was bough by Vista Outdoors. IF Vista Outdoors wanted (and they do not) they could start making Remington firearms anywhere they wanted, as they now own the trademark/copyright. Roundhill bought just the Ilion NY and Lenoir City, TN (Storm Lake) facilities, they got the buildings and machines and not much else (Maybe the Storm Lake name). Hence the name change to RemArms. Since none of "Remington" main line of firearms are under patent protection the new RemArms can make 700's 870's etc but cannot call them Remington (not without a licensing agreement from Vista). Vista Outdoors on the other hand could make a brand new firearm never seen before and call it a Remington if they wanted.

So yeah why the hell would you buy the Remington Plant in Ilion NY with all its baggage of, old buildings, old machines, onerous union, unfriendly state government etc but not the Remington name is beyond me. If you just wanted to start make Remington-like-firearms you would be better off standing up a new plant, with new machines, in a gun friendly state and start from scratch. That would take deeper pockets and good planning and marketing but IMHO would be easier than trying to resurrect Ilion NY especially without the Remington name.
 
But they had that brand new facility in Alabama; it was up and running (although not at the capacity originally promised)
 
George P said:
But they had that brand new facility in Alabama; it was up and running (although not at the capacity originally promised)
Click to expand...


But they didn't. Remington never met the requirements to secure ownership of the Alabama premises and the city and, I believe county, were creditors (probably tier 1), the Alabama premises (real estate) was never on offer in the auction of assets mandated by the court. At auction, you buy what's on offer.
 
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Well, it is clear from the bankruptcy document that the buyers will have no liability for any warranties that Remington would have had to honor.

https://bloximages.newyork1.vip.tow...-11eb-842e-13eb29912fe2/5f7398aa26c61.pdf.pdf

Wording used throughout the court order approving the sale...
No Successor Liability
Other than as expressly set forth in the Asset Purchase Agreement, the Buyer shall not have any successor, transferee, derivative, or vicarious liabilities of any kind or character for any Interests, including,...,under any product warranty liability law or doctrine.
Click to expand...

Form what I have read, the buyers assumed no liability for health plans, etc. I suspect the non-transfer of liabilities included union contracts.
 
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