Remington to file for Chapter 11 (reorganization) Bankruptcy

[Solomonson]

Cerberus gave ROC a means to operate for awhile longer, but that was never a long-term goal for Cerberus.

It's pretty clear what Cerberus' goal was -- to build the General Motors of firearms. They would have operated it as long as it met their required ROI. In hindsight their plan was flawed, their management was even worse and their investors didn't like the idea of having a gun-maker in their investment portfolio.

 

[CoalTrain49]

Maybe someday you'll stop making rude comments? "Good luck and bye for now."

Probably not.

You want to grow a little tougher hide if you want to become a hedge fund manager. And don't wait too long because they are falling out of favor with investors.

Hedge funds are in general falling out of favor, although some are optimistic that the market environment may become more hospitable to them. Not only do hedge funds charge higher fees than the most popular passive products, but they boast worse performance. In aggregate, hedge funds are on track to underperform the market for an eighth straight year.

https://www.marketwatch.com/story/w...ds-more-money-but-terrible-returns-2017-03-28

I've been in the market for awhile. I know how it works.

 

[JONWILL]

Got my rebate check yesterday. Yea

 

[Powder296]

I wish this had happened to Remington before they bought Marlin and ran them into the ground. That's why I only buy JM stamped Marlins. Hopefully Remington will be forced to sell off some assets to people that care about the finished product rather than just the bottom line. In fact, in about 35 years of gun ownership I have never owned a Remington product other than little green and yellow boxes, of which I haven't bought in several years and still trying to shoot off what I have left. Not that I was protesting them, they didn't have anything that tickled my fancy.

 

[Solomonson]

I have never owned a Remington product other than little green and yellow boxes, of which I haven't bought in several years and still trying to shoot off what I have left. Not that I was protesting them, they didn't have anything that tickled my fancy.

The Remington 870 is arguably (along with the Winchester M12), the finest pump shotgun ever made. It was my first firearm. A Remington M700 was my first bolt-action centerfire rifle. I have a number of Remington rimfire rifles. Good stuff.

 

[everydefense]

It's not surprising what has happened, considering their continued blunders (the R51 being the flagship). I'm thankful they finally did send back the $10 ammo rebate check they owed me- I had actually forgotten about it, at this point...

I strongly prefer Remington pump shotguns, and own a pre-Remington Marlin .22. But I'm firmly in the Ivan Drago camp: "If he dies, he dies." If a company is run so stupidly that it fails financially, others should take its place, regardless of a company's history.

First did anyone notice the anti gun and anti Trump slant of this article? Leave it to anti gun Bloomberg to spin it that way.

I make a point of NOT clicking on (or linking to) Bloomberg articles as much as possible. They don't deserve my ad revenue from pageviews.

 

[Sovblocgunfan]

The Remington 870 is arguably (along with the Winchester M12), the finest pump shotgun ever made. It was my first firearm. A Remington M700 was my first bolt-action centerfire rifle. I have a number of Remington rimfire rifles. Good stuff.

Indeed, and I agree with you in principle (although I would argue your position about the 870 being the finest-I owned a pair of vintage Ithaca 37’s; their fit/finish was second to none, and they pointed like fine doubles). I currently have a wonderful Remington 721 in the safe, as well as a model 11-48 in 16 gauge. I am also piecing together a Model 11 using a 1925 receiver. My brother owns a cherry ‘65 1100 and an early 870 express. I would never shy away from a wingmaster or other vintage Remington product. But I’m not really interested in much of what they have to offer as new. I’d like to give a V3 a whirl cuz I hear great things about them, but that’s about it...

I certainly believe in what Remington once was, but none of my beliefs or hopes will save Remington, I’m afraid...

 

[Powder296]

The Remington 870 is arguably (along with the Winchester M12), the finest pump shotgun ever made. It was my first firearm. A Remington M700 was my first bolt-action centerfire rifle. I have a number of Remington rimfire rifles. Good stuff

870 was my first, traded for a Mossy 500 as I liked the controls better, the slide release is in a more natural position. But these days because of a bad injury leaving me unable to work the pump in reasonable amount of time that a follow up shot would dictate, I have a Benelli M4

 

[CapnMac]

Interestingly enough, Chapter 11 is not “going under”, as posted elsewhere. They can still operate and do business

Yeah, I worked for a company in Chapter 11. Purchasing was really strange. Which made simple things, like office supplies rather peculiar (an ombudsman had to review anf approve all of your operating expenses).

Weirdest part was the paychecks--they all had "Debtor in Possession" under the signature line.

That company clawed its way out of the Chapter 11 too, and went from $2 million in sales to $26 million.

 

[OneFreeTexan]

What has Cerberus said about the whole thing?

 

[mcb]

What has Cerberus said about the whole thing?

Do we care? As I understand things when this is all said and done Cerberus will be completely out of the picture. Hopefully the new owners are better than Cerberus!