Remington does it again... Bankruptcy No 2.

Yeap.

mcb said:

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

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It includes Utah operations as well as Barnes and Arkansas

czhen said:

You can call nostalgic but I don't want some of best American's worldwide brands firearm disappear.
Every factory close is a less chance for our 2A to survive.

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While I share your sentiments, these brands don't really disappear. Look at Winchester. FN is building the best M70s ever.... and their building them in South Carolina.

IMHO, gun companies run by spineless men that cave to societal pressure to promote bunk like micro-stamping and smart guns don't do the 2A cause any favors. (Heck, Bill Ruger essentially wrote the assault weapons ban for Bill Clinton. Thank goodness the 2A crowd chastised him thoroughly and his offspring repented).

Likewise, gun companies snapped up by the capital management vultures and gutted to produce executive bonuses, while letting their product line mildew while they fail to innovate also don't help the 2A.

I say let them implode so that better men, who are passionate about the product and their customers can pick up the remnants and reshape them into viable companies with quality and innovative products. Companies that create high skill, high paying manufacturing jobs with benefits that have the tax paying clout to leverage state lawmakers into "seeing the light" when confronted with companies moving to greener 2A pastures.

SSN Vet
We share the same approach to the issue, I'd like to see strong American companies looking for more markets locally and worldwide.
Winchester as Browning never did very affordable firearms, I am ok with that, they still have same bss profile.
Politician won't shutdown Co. that bring money, jobs and strategic alliances from outside, when they don't care if they close one for the local market.
The whole situation is large, complicated and have many opposite pulling strings, including us that we keep alive this beautiful passion, hobby; with a respirator every two or three year.

rust collector said:

I was under the impression that model 70 production had been moved to Portugal after a brief stint in SC. I may be wrong, but if I am not, that is a problem with overseas concerns picking up old US brands, in my opinion.

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Assembled - at the Browning Plant in Viana, Portugal.




GR

rust collector said:

The Winchester web site shows where arms are currently produced. I don't find any made in USA. https://www.winchesterguns.com/support/faq/where-are-winchester-firearms-manufactured.html The only Brownings made in the states are the buckmarks and the blowback 1911s (22 and 380).

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It is my understanding that the major components of the M70's (Bbl/Bolt/Receiver) are manufactured at the FN/SC plant.




GR

While i can't refute that, it does seem a waste to make most of the parts in SC, ship them to Portugal and then reimport them...............

George P said:

While i can't refute that, it does seem a waste to make most of the parts in SC, ship them to Portugal and then reimport them...............

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FN - is a Global corp.

They source parts from all over the world.

Happy they are sourcing FN SC Military Plant for the major metal parts, and Bell&Carlson for the stock.

Nothing wrong with the craftsmanship coming out of the Browning Plant in Viana, Portugal, either.

And they made available to me an outstanding rifle for < $1,000... and presumably made money on it.


Win/Win.




GR

For a brief period after the New Haven plant closed the Model 70 was made at the FN plant in South Carolina but production move to Portugal years ago. Rust Collector provided the link to the Winchester website .

Let’s hope so

I sure hope Marlin lands in a good (as in stable) place. The Marlin rifles built in the last few years, objectively taken in whole, have been damn good rifles. So, here we go again.

Well hopefully in a few days we will know more

3Crows said:

I sure hope Marlin lands in a good (as in stable) place. The Marlin rifles built in the last few years, objectively taken in whole, have been damn good rifles. So, here we go again.

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+1

Lever guns are increasingly popular (again) and Marlin is really hitting its stride. Let's hope a phoenix rises from the ashes.

mcb said:

Doing some digging into the bankruptcy documents. It appears that in addition to JJE Capital Holdings (Palmetto State Armory) that came forward as the Stalking Horse bidder for the ammunition part of Remington, it appears that Vista Outdoors (Owner of Federal Ammunition among a heap of other firearms and outdoor brands) and DuPont (former owner of Remington 1980 - 1993) were present at the proceeding on the 17th.

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Who doesn't like a fire sale...




GR

https://spectrumlocalnews.com/nys/c.../no-buyer-yet-for-remington-arms--mayor-says-

No Buyer Yet for Remington Arms, Mayor Says
By Spectrum News Staff Ilion
PUBLISHED 8:37 PM ET Sep. 16, 2020
The Ilion mayor Brian Lamica says a buyer has not yet come forward to acquire Remington Arms.

The company filed for bankruptcy earlier this year, and per the terms of its bankruptcy filing, has a little more than a week left to get a buyer. The Ilion plant employs hundreds of people and many of them held a rally Wednesday.

"If Remington Arms were to move out of here tomorrow, completely just shut down and shutter their doors, we're looking at a lot of money out of our local budgets not just the Village of Ilion,” Lamica said.

He says the village is ready to make a generous deal with a potential plant buyer, even offering more land.

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Think they are looking for a buyer for everything else

The bankruptcy sale deadline which was supposed to be today has been extended for another week.

Members of the United Mine Workers of America Local 717 held a news conference at the Ilion Municipal Building last week during which union officials and Mayor Brian Lamica expressed concerns about the outcome of the proceedings. UMWA District 2 representative Jamie Rudwall said workers hope to keep their jobs in Ilion.

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Perhaps the union should bid on the company.