Remington does it again... Bankruptcy No 2.

Status
Not open for further replies.
There is that, of course. But it shouldn't be too difficult to target a variety of sub-markets building on a basic bolt-action rifle and pump-action shotgun. 700s (and 7s) and 870s can take a variety of forms.

Ah well, maybe I'm just an old guy mourning the passing of the old days.
 
Last edited:
Legionnaire said:
There is that, of course. But it shouldn't be too difficult to target a variety of sub-markets building on a basic bolt-action rifle and pump-action shotgun. 700s (and 7s) and 870s can take a variety of forms.

Ah well, maybe I'm just an old guy mourning the passing of the old days.
Click to expand...
It’s better than being a stick in the mud. I hope they do it right.
 
They apparently just fired nearly the entire Huntsville work force (manufacturing, marketing, sales, and R&D) keeping only a very small handful to shut the place down by next week. Roundhill is apparently going to rebuild the Remington engineering group from scratch, Bold Strategy Cotton.
 
mcb said:
They apparently just fired nearly the entire Huntsville work force (manufacturing, marketing, sales, and R&D) keeping only a very small handful to shut the place down by next week.
Click to expand...

I could be wrong, of course, but my understanding was that this was a forgone conclusion since the Huntsville facility itself was not part of the bankruptcy court agreement meaning nobody - including Roundhill - bought it. (Vista bid on and got at least the ammo manufacturing assets IN the factory, but not the building and the site it sits on.)

Since there were no acceptable bids for the facility itself, it is still in limbo. The "old" Remington is still trying to sell the property and also negotiating with the city of Huntsville since the city holds a $12.5 million "first priority mortgage" against the property which supposedly is worth about $60 million. Apparently the bankruptcy court will revisit this issue and a few other loose strings later this month.
 
climbnjump said:
I could be wrong, of course, but my understanding was that this was a forgone conclusion since the Huntsville facility itself was not part of the bankruptcy court agreement meaning nobody - including Roundhill - bought it. (Vista bid on and got at least the ammo manufacturing assets IN the factory, but not the building and the site it sits on.)

Since there were no acceptable bids for the facility itself, it is still in limbo. The "old" Remington is still trying to sell the property and also negotiating with the city of Huntsville since the city holds a $12.5 million "first priority mortgage" against the property which supposedly is worth about $60 million. Apparently the bankruptcy court will revisit this issue and a few other loose strings later this month.
Click to expand...

My post has little to do with the Huntsville facility. As you state it was a forgone conclusion that it was going to be close. It's the fact that they just fired all of their R&D design engineers and test engineers/techs and did not make any attempt to retain any of those people. Remember Remington's entire R&D group was in Elizabethtown KY until 2015 when it was uprooted and moved to the Huntsville facility. So that means Roundhill is going to try to run the "new Remington" with very few if any of the engineers and testing staff (all housed in Huntsville) that had keep the manufacturing floors across all of Remington's various facilities/brands running. Ilion has minimal manufacturing engineering and no R&D engineering it was all in Huntsville. This seems less than a wise to me, especially when that means your going to have to try to hire good firearms engineers and get them to move to NY, one of the more unfriendly states towards firearms there is. How many gun people want to move to NY state?
 
Last edited:
mcb said:
This seems less than a wise to me, especially when that means your going to have to try to hire good firearms engineers and get them to move to NY, one of the more unfriendly states towards firearms there is.
Click to expand...

Yeah, I agree. My guess - and it's only that - is that they are planning on new design work to be done elsewhere by an already existing design team so they don't need the Huntsville engineers and won't be hiring new engineers for NY.
 
Could be the old corporate move, fire everyone then allow them to apply for their old job at a reduced salary, or move at their own expense, as old as corporation take overs or closures. My son calls the move “Trading Down.“
 
Unless they just continue building their legacy designs and don't invest anything into R&D.
 
Laying off all the R&D employees might not be a sign of turning a new leaf. It could be the opposite. It could mean the new Remington is abandoning any attempt at creating new designs and is just going to milk the 870 and 700 as long as they can.
 
  • Like
Reactions: mcb
https://www.wktv.com/templates/AMP?contentID=572731311

"Italia says Remington Arms will be strictly an outdoor/sporting company, and will not make military weapons."

Spoken like a FUDD that does not understand the current market or the history of the company. The 700 and the 870 two of the most iconic Remington firearms are as much military weapons as they are sporting arms. Does this mean they will stop making 1911, that is a military weapon?

The more I read and the more I hear about Roundhill and what is happening at the various plants it seems that Roundhill may be in the same position Trump was a little less than for years ago finding themselves a winner of a contest they did not expect to win and thus not ready to do what needs to be done.

The idea of restarting a firearms company in a state like NY strapped to a union like the mine workers is more likely to produce bankruptcy number three than a successful company.

Good news for ilion labor force to some degree but it's going to be hard to attract firearms engineers and other highly skilled firearms experts back to NY given the states attitude to gun ownership. If Remington survives it will be a FUDDish shadow of it's former self
 
Slater said:
Presumably, production is at a standstill at all ex-Remington facilities?
Click to expand...
As I understand it basically everyone was fired at the beginning of this week. I know a very small handful of people here in Huntsville were given a ~week extension to help shut the Huntsville plant down. Moving forward Roundhill has to hire 200 Mine-Worker union members per the bankruptcy settlement and, according to the video in the article I linked to in my previous post, they will be hiring ~50 salary employees. It was unclear how many of the existing Remington salary workers (from various facilities) would be allowed/offered a chance at those positions.

The fact that they have not committed to staying at the historic Ilion facility is interesting also. It's and old facility for sure but its very costly in both money and time to move equipment especially some of the equipment like the hammer forges that would required wall removal to get the machine out of the building.

Clearly no plan...
 
It's generally cheaper to have a manufacturing operation in the South (little union presence, overall lower labor costs, etc.), so you would think the Huntsville plant would have some sort of future.
 
Slater said:
It's generally cheaper to have a manufacturing operation in the South (little union presence, overall lower labor costs, etc.), so you would think the Huntsville plant would have some sort of future.
Click to expand...
None of the successful bidders for the various parts of Remington Outdoor Company got the Huntsville facility. It appears the Huntsville plant is going back to the city of Huntsville due to the money Remington owed the city, though that is still being hashed out in court as I understand it. Roundhill got just Ilion NY facility, and the Stormlake facility in Lenoir City TN and maybe the Custom Shop in Sturgis SD.

Being I live here in North Alabama it will be interesting to see what the City of Huntsville does with the facility given the number of indoor ranges and firearms specific testing facility built into those buildings. Maybe a new or different gun company can be attracted to the facility.
 
I had drafted an epic rant with paragraphs and bullet points, but realized that we all know what happened to American production capabilities. We sold out. We can't even get laws enacted to require country of origin labeling for beef. We can't stuff that cat back into the bag. It's not about what Roundhill is going to do. What are we doing to rebuild American industrial might?
 
The new bosses same as the old bosses. Sounds to me like Remington was better off before than now. But folks bashed them into bankruptcy so now there is none. So, uh, Roundhill is who I need to start bashing on now?

Firing everyone, well, according to all the bashing, they (anyone and everything to do with Remington) were no good anyways so good riddance. In the modern world an engineer does not need to live next to the plant. Maybe some manufacturing engineers but the design team could be on the moon or nearly so or China or India.

We got what we wanted, Remington, RIP. Just a brand name now stamped on something from somewhere else.

Maybe Ruger will at least do the Marlin legacy and cowboy proud, I pray so:

u-g-F5-B8-AD0.jpg

Give them Hell cowboy, Ruger Blackhawk and a Marlin lever, could be the real deal is about to be. All these years, even getting a ruler over the knuckles by Sister Angelina for looking at gun catalogs in math class, always wondering what revolver that cowboy had strapped on, low and behold, it was a Ruger Blackhawk :). I bet it is a caliber .45 Long Colt too!
 
Last edited:
Status
Not open for further replies.

Similar threads

Solomonson
  • Locked
Remington to file for Chapter 11 (reorganization) Bankruptcy
2 3
Replies
60
Views
4K
mcb
mcb
M
  • Locked
Remington Going Under
Replies
3
Views
503
Spats McGee
Spats McGee
hso
  • Locked
For Your Situational Awareness - NRA Files For Bankruptcy To Restructure In TX
Replies
2
Views
733
hso
hso
G
  • Locked
Gun expert indicted on fraud conspiracy in museum case
Replies
1
Views
462
Husker1911
Husker1911
M
  • Locked
Schoenke is at it again!!!
Replies
24
Views
1K
myrockfight
M
Back
Top