Remington does it again... Bankruptcy No 2.

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I own several Remingtons between rifles and shotguns and all are nice shooting guns, I also have started purchasing Howa 1500s and Savage bolt actions that I feel are a better value, if someone takes over Remington they will need to address that issue, the recent QC issue, and the customer service issue along with the debt to turn them around. I hope someone can get them profitable again and get them competitive with other manufacturers.
 
JP Morgan and Franklin Templeton never wanted to own Remington. They got stuck with it because they were the main creditors at the time of the 2018 bankruptcy. They have been trying to sell Remington since taking control. I suspect they are pleased to file bankruptcy so they can unload Remington onto a new group of creditors.
 
Update on my recalled rifle.
I sent my Remington 700 in for the trigger replacement on July 21st. I got it back today. Pretty good turn around.
 
JP Morgan and Franklin Templeton never wanted to own Remington. They got stuck with it because they were the main creditors at the time of the 2018 bankruptcy. They have been trying to sell Remington since taking control. I suspect they are pleased to file bankruptcy so they can unload Remington onto a new group of creditors.
JP Morgan and Franklin Templeton never wanted to own Remington. They got stuck with it because they were the main creditors at the time of the 2018 bankruptcy. They have been trying to sell Remington since taking control. I suspect they are pleased to file bankruptcy so they can unload Remington onto a new group of creditors.
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https://www.al.com/news/2020/07/hun...bankruptcy-again-mayor-tommy-battle-says.html

There have been several local new stories both on the web (a good one linked above) and TV talking about the fact that the city of Huntsville owns Remington's AL building. Remington when they moved in built several different ranges and testing rooms with bullet traps in the building. Remington may not own the building but they put a lot of money into very specialized hardened structures that was retrofitted into the building and not many other companies can use it outside of another firearms company. It will be interesting to see who would move into that facility if Remington has to leave it.
 
I think a large part of it is people buying these companies and then pretty much running them into the ground for their own profit. Odd comparison, but that is what happened to Toys R' Us who was doing pretty well but had been saddled with huge debt by others. People buy the companies, run them up on debt, give themselves huge bonuses from said debt and then pitch them in the trash can. I think that is part of Remington's issues, not all of it but it didn't help!
Yep. Same thing was done to Colt a couple times. Hedge fund or some other entity like them, buys up a healthy profitable company, then borrows money (ie..bond issues and what not), uses that cash to pad the bottom line, the puts the company in chapter 11 or offs it to the next fund who washes rinses, repeats.

Vulture capitalism.

I like the idea someone posted earlier...crowd funded buyout and then owned by gun enthusiasts who will honor one of oldest gunmakers in the nation.

Most likely wont happen...
 
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JP Morgan and Franklin Templeton never wanted to own Remington. They got stuck with it because they were the main creditors at the time of the 2018 bankruptcy. They have been trying to sell Remington since taking control. I suspect they are pleased to file bankruptcy so they can unload Remington onto a new group of creditors.

Whoever buys it won't resurrect the company to it's once prominent status. It's just a brand name now, like Winchester, and has been for awhile. Maybe a European company will buy it and build the rifles in Turkey or Pakistan.
 
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My wifes family is in Huntsville and they said Remington doesn't pay well and a few people that work there don't care about guns, its just a 9-5 job. I sometimes wonder if that is part of the QC problem.
 
My wifes family is in Huntsville and they said Remington doesn't pay well and a few people that work there don't care about guns, its just a 9-5 job. I sometimes wonder if that is part of the QC problem.

I can attest to the pay at the Remington facility being lower than many other companies in the Huntsville area but they actually pay a decent amount for Alabama as a whole. That's most likely because they were hoping to pull in employees from the Decatur and Athens area where a lot of manufacturing jobs have disappeared over the last 20 or so years and the average salary is lower.

The people not caring about guns I can also mostly agree with. Of the twenty or so people I know who work or worked there only a few actually had anything more than a hunting rifle and/or shotgun and the few who did actually care about firearms didn't actually work on the assembly but were more like HR or accounting.
 
I can attest to the pay at the Remington facility being lower than many other companies in the Huntsville area but they actually pay a decent amount for Alabama as a whole. That's most likely because they were hoping to pull in employees from the Decatur and Athens area where a lot of manufacturing jobs have disappeared over the last 20 or so years and the average salary is lower.

The people not caring about guns I can also mostly agree with. Of the twenty or so people I know who work or worked there only a few actually had anything more than a hunting rifle and/or shotgun and the few who did actually care about firearms didn't actually work on the assembly but were more like HR or accounting.

Not every auto assembly line worker is a race car driver.

Face it. Much of the stuff needed to assemble a firearm could be done with trained monkeys.
 
Not every auto assembly line worker is a race car driver.

Face it. Much of the stuff needed to assemble a firearm could be done with trained monkeys.

Agreed but there needs to be a core of product experts, especially in the engineering and sales/marketing departments.

Examples: If I am building widget X I want the best machinist I can afford whether he uses widget X or not, making the parts to print is all that matters. But I want an engineer that knows intimately, uses, and likes widget X to design widget X-2.0 Same for my sales. I want the best web designer I can afford to create my online sales website and I don't care if he owns/uses Widget X. But my marketing guy that is creating all the information for my web designer better be an experienced user of Widget X.
 
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Not every auto assembly line worker is a race car driver.

Face it. Much of the stuff needed to assemble a firearm could be done with trained monkeys.

Absolutely no argument from me there. Machining and design experience is much more important than firearms experience. I would much rather have an aerospace or mechanical engineer design a firearm and the guys who made the parts for Space X make the parts and assemble it than someone whose only qualification was that they won a few IDPA or PRS matches. That being said, I do think that the QC and marketing team should have at least some experience with the products they inspect or market.
 
Remington lost its quality culture and organizational pride years ago. One doesn't have to be highly skilled or highly paid to buy into an organizational commitment to quality. A company--and eventually the brand--is doomed if for too many people "it's just a job."
 
I can attest to the pay at the Remington facility being lower than many other companies in the Huntsville area but they actually pay a decent amount for Alabama as a whole. That's most likely because they were hoping to pull in employees from the Decatur and Athens area where a lot of manufacturing jobs have disappeared over the last 20 or so years and the average salary is lower.

The people not caring about guns I can also mostly agree with. Of the twenty or so people I know who work or worked there only a few actually had anything more than a hunting rifle and/or shotgun and the few who did actually care about firearms didn't actually work on the assembly but were more like HR or accounting.
How many guns can they afford to buy working that kind of a job? I wouldn’t hold that against them.
 
Not every auto assembly line worker is a race car driver.

Face it. Much of the stuff needed to assemble a firearm could be done with trained monkeys.

A lifetime ago (or maybe 7 years...) I left my high-stress 6 figures job in the insurance industry to focus on my divorce and relocation. I was living in the Prescott, AZ area and needed a manual labor job with enough pay to cover expenses while I sold my house and got ready to move North.

I saw an opening at Ruger Firearms through SOS Staffing, which was a temp agency.

Basically, you applied at SOS, then filled out a questionnaire, then took a test. Based on your score, you were placed somewhere in the Ruger plant in Prescott.

The highest scores resulted in being placed as a CNC Operator at $12.50 an hour. The lower scoring people were placed in the polishing department at $8 an hour.

I was a former Naval Aviation Structural Mechanic and very mechanically inclined, did well on the test, so I was offered a job as a CNC Operator. I was placed on the line that made trigger bars for the SR series. We also made sights and did some machining on slides. I was in a group of 10 or so other men. We worked 10-12 hour days, 5-6 days a week.

I was the only one in my group that even owned a firearm, much less understood how the part I was making impacted the operation of a firearm. Every other man on my team was under 25 years old and was Hispanic, except for one black guy that I became friends with. All of them had been working there less than 6 months. My "boss" was a white guy in his 50's that had been there 3 years.

All the guys on my team knew was how to push the buttons and use the supplied jigs to make sure the part was within spec. None of them had the knowledge I did in how radiusing a corner relieved stress on the part, or how a second longer in buffing an edge could make all the difference in the world on trigger feel.

My supervisor recognized the value in my knowledge and experience and tried to get me to become a full-fledged Ruger employee, but I could see how the middle-management at the plant was completely ignorant of firearms and dismissive of quality. I have a few stories of total incompetence and failure at Ruger that I witnessed. Besides, becoming a Ruger employee meant receiving a mediocre increase in pay and mediocre health benefits. I quit after three months and moved North.

The point being: There is a huge difference in employing someone who can push buttons on a machine and someone who is knowledgeable about how firearms work and has a passion for them. Most firearms manufacturers don't care one bit about employing quality people and only care about the bottom line.
 
https://www.uticaod.com/news/20200805/717-remington-workers-in-ilion-face-layoffs

So according to this article the company is going to be auctioned off by late September. It appears it will be up to the courts if it is chopped up or sold as one unit. I hope the judge realizes that the brands are names only and that it would be nearly impossible to separate the various brands functionally. They are all designed and maintain by the same pool of engineers, all come off the same machines, assembled by the same workers, and marketed by the same sales team. If they chop the company up then the names will be just that names with none of the history or expertise that was behind the names. There is not much of that expertise left in the company given the number of employees that have left but chopping it up would destroy what little of that is left.
 
Imagine if Bergara would buy the brand name "Remington," which is still a price-able asset, and started offering the 700 as it should be done. Their actions are already 700 clones. Think there might be a continuing market for a Remington-branded rifle, or is the generation that values the name too far gone?
 
Imagine if Bergara would buy the brand name "Remington," which is still a price-able asset, and started offering the 700 as it should be done. Their actions are already 700 clones. Think there might be a continuing market for a Remington-branded rifle, or is the generation that values the name too far gone?

I think that generation that still likes Remington is just about gone and I think the Remington name is pretty trashed right now with the younger generations.
 
Even tho i just picked up a clearance remington 770. The remington name is trashed for me. I have bought 5 870’s over the corse of 10 years. And only one did not have to go back. 3 remington 700’s. 2 need minor work. That is enough for me to move on to other rifles. Still handling replacements for my 700 bdl.
 
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