Home Forums Hunting & Shooting Hunter's Campfire Remington on the way out ?

It looks like the hedge fund investment vehicle that is called Remington is about out of gas.
http://www.zerohedge.com/news/2017-...-americans-buy-fewer-firearms-post-obama

I really hate to see Americas oldest gun manufacturer go down. But the bean counters will sell their mother into prostitution.

What else I dislike is the quality issues, and how they degraded the other brands they bought, Marlin and H&R, and others. And the poor ammo they put out for a time.

First off. Hate to hear it for the working level folks at Remington. My "cheese has moved" 5 times in the past 25+/- years. Layoffs, outsourcing, down sizing always suck, regardless if you are on the cut list or not.

Thinking maybe the investors "drank the kool aid" and leveraged their position assuming that Hitlary was going to be elected and that they would have several more years of high volume sales before Hitlary finally shut them down... Trump wins the election, and suddenly they have a butt ton of debt, and declining sales/profits... They guessed wrong.

Unfortunately, the investors will move onto the next big thing and the Remington employees will take it in the shorts...

Remington is now reaping the seeds of poor quality.

My thoughts as well

For them to not be thriving after eight years of Obama sure is a sign of how fugging stupid they are.

Remington has made a lot of garbage for a long time now. I hate it for the employees also and the creditors. I’m pretty sure the hedge fund has gotten all the good out of the company and will walk away having made a bundle and will not think twice about the employees and creditors. I bought my last 700 back in 2005 I think. The stock finish bubbled , had almost no primary extraction due to being almost completely out of time , the bolt handle fell off , feed ramp looked like a washboard , paint on the bottom metal flaked off in places. That’s just what I can think of off the top of my head. I’ve fixed all the issues and it works fine now but it has never been very accurate. It’s my first project when I finish building my hobby gunsmithing shop.

Hate it for Remington, but that's what happens in the dog eat dog world called "the marketplace." As far as the quality thing, there is no doubt that it's not there as it once was. But, I'd still look at a Model 700 or 7 before I would anything else. Maybe I'm just stuck on that line of rifles, but I've had too much luck with them to give them up.

How can they be so stupid? According to the graph, sales are still WAY higher than pre-Obama. If they could make money then, why not now?

I still like the older models....especially the wood stocked 700 ADL models.

The "new" Remington rifles are seen as "suspect" in my eyes.

Because they leveraged the bejesus out of the company. I’m pretty sure much of that money went to the hedge fund as management fees , bonuses, and inflated salaries. The rest was spent on building the plant in Alabama and buying more companies to loot. Now they’ll declare Remington bankrupt and restructure the debt and screw the creditors. Once out of bankruptcy they’ll sell the cleaned up company at a profit.

Won't miss the current outfit one bit. I would hate to see the Marlins disappear as a side-effect though.

This sounds alot like Colt's recent bankruptcy. Run up debt, big bonuses for directors, bankruptcy, "re-structure".

If Remington would have spent HALF the time and money making a new Nylon 66, a new line of Stainless Rem 600's, make Marlins "right", and market the Marlin Xs/XL7 (rather than wasting EVEN MORE money on the Rem 783), that they spent on pistols people still aren't buying....

Because Cerberus owns them and probably has them leveraged to the hilt. Previous neighborhood I lived in had a bunch of Remington management types living there, not one thought the company was run right.

No love for capitalism?

Not really. Most of the guns they build are just fine.


For the most part, their trouble is DEBT. They could sell more guns than any US gun company and they would still be swimming in too much debt.

Ruger is not exactly setting sales records this year or building old world quality eithe. But - they have zero debt, treat their share holders well and will weather the sales downturn because they can.

Remingtons problems are poor fonancial management not poor gunmaking.




.

This..

Another link:
http://www.philly.com/philly/blogs/...ericans-buy-fewer-firearms-20171117.html

Yep...I bought one of the damn POS about ten months back and it doesn't shoot for s hit! This is the best I can make it do for ten rounds fired from 900 yards:

308 Win/Remington M700 factory barrel/action by Sharps Man, on Flickr

Well, let's just hope that if they do go out of business that somebody else will start building 700s. May not be likely, but it's possible.

I bought a Rem custom shop 700 earlier this month, couldn't be happier with it.

The word I got was they are churning out the truest actions ever due to new, modern equipment.