Remington Seeks Financing To File For Bankruptcy

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http://www.thefirearmblog.com/blog/2018/02/08/remington-financing-bankruptcy/

With nearly $1 billion in debt and credit agencies warning that their capital structure is “unsustainable”, firearms and ammunition manufacturing giant Remington is looking for financing to fund business operations during bankruptcy proceedings. An exclusive report from the news agency Reuters also states that Remington’s sales dropped 27% in the first nine months of 2017 resulting in a $28M operating loss.
 
Have to think that trigger recall must have been phenomenally expensive. The R51 disaster and subsequent buyback and recall, coupled with the RP9 not selling was just too much. Hopefully they find a way back to what they used to be.
 
I've been saying this was gonna happen for years. Good.

EDIT: I'm happy because their product is garbage. Rusting, poor triggers, two consecutive failed pistols, triggers that failed, bad actions on their flagship shotguns and rifles, generally bad .22 rifles and ammo etc. Also an 870 I bought cut my forehead open. I won't buy anything from remington until someone else owns them and actually improves on the quality.

There isn't a single thing they make better than anyone else, even for the price point.
 
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Failure to maintain quality with unreliable in entry level products is a brand strategy that leads to failure.
There inexpensive guns are junk compared to competitors and the 22lr ammo which so many shooters start out with is some of the worst on the market...... who buys into Remington after that type of experience. I am certainly not the only one who has gone through this. There new pistol is a decent little gun but I waa not interested in buying a Remington product the brand damage is/was already done.

They blew it all selling junk 22lr....also denying a problematic trigger issue till the issue piled up sure didn't help either....


It's sad but many corporations are going to have financing come due this year in the USA and CANADA. My next prediction for failure non gun related is "The Hudson Bay Store".
 
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philhut said:
Failure to maintain quality with unreliable in entry level products is a brand strategy that leads to failure.
There inexpensive guns are junk compared to competitors .
Click to expand...
Actually the 783 is a pretty decent rifle, but it took took or three other cheap gun failures to get to the 783 first. Not sure why they didn't just put a floorplate on the Marlin X7 and go with that.

No comment on the 22s. I shoot a 10/22 instead and buy used/older 700s instead of new.

nomad 68 said:
This is what happens when a Capitol management company buys a firearms manufacturer. This may end up being the best thing to happen to Remington. A rebirth under new ownership may right the ship.
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You're right.
 
hey, maybe they can get a gov't bailout like they did for GM ! did that ever work well ... ball joints grenading , antilock brake f-ing up, windows won't roll up etc they make a fine pos now

i like the old 700 bolts.. great guns aswell as the 7600 pump, 870 shotgun
 
philhut said:
Failure to maintain quality with unreliable in entry level products is a brand strategy that leads to failure.
There inexpensive guns are junk compared to competitors and the 22lr ammo which so many shooters start out with is some of the worst on the market...... who buys into Remington after that type of experience. I am certainly not the only one who has gone through this. There new pistol is a decent little gun but I waa not interested in buying a Remington product the brand damage is/was already done.

They blew it all selling junk 22lr....also denying a problematic trigger issue till the issue piled up sure didn't help either....


It's sad but many corporations are going to have financing come due this year in the USA and CANADA. My next prediction for failure non gun related is "The Hudson Bay Store".
Click to expand...

Interesting you mention HBC. They actually own a number of other stores, not just Hudson's Bay. Even if that store goes down, the company should be fine.
 
I hope the ppl at Remington read these posts:
I had a Weatherby Vanguard awesome rifle - currently own a Howa HLR and a Tikka T3x do have an Remington Express with the upgraded extractor and wood stock and forend - it isn't a bad pump gun the older ones probably better. I've used this pump for about 9 years works good but do think it should have been good out of the box. Quite a few owners had extraction issues which you probably wouldn't have had if the quality was a notch up.

I hope that they are successful in bankruptcy hope none of these folks go to work for Kodiak Defense promising a better bottom line. Just my two cents..
 
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