SR match rifle primer left in production?

[jelenko]

Do I have it right that Remington is still operating but in bankruptcy? I.e., they haven't closed their doors [yet] - yes?

 

[Drolds72]

Do I have it right that Remington is still operating but in bankruptcy? I.e., they haven't closed their doors [yet] - yes?

Depends on the type of bankruptcy. A chapter 11 filing is a petition to reorganize the company. Typically, the most Sr holders of debt (ie banks and secured holders) are first in line for recovery. Then Sr unsecured debt, then jr, then pfds and lastly equity. If there is a revolver to be drawn down, it’s usually done right before filing. If there isn’t, they obtain debtor in possession financing. Usually provided from the likely new owners. The court hears everybody’s arguments, signs off once terms are set, and the company emerges from BK with new equity, and possibly new debt. Then, the post emergent company continues to do business and hopefully not wind up back in BK court. Not sure if Remington had public debt at the top of the stack. Oftentimes, anybody who wants the biggest seat at the table will bid up pre-bk bonds to own the majority of them, and control the process, and ultimately take over the company. If there really is no hope of the company continuing as an ongoing concern, then the court’s only real job is to assign a trustee to oversee the liquidation process, in a ch 7 filing.
So will they still make primers? My guess is yes, in some form or fashion.

edit- I found 155mm in defaulted debt Here are your new owners:


Debt Holder (USD) Bonds Held % Out Latest Chg % Chg
Total Reported 140,942,354 90.93 +184,845 +0.1
FRANKLIN RESOURCES 124,854,172 80.55 0 +0.0
JPMORGAN CHASE & CO 14,071,463 9.08 +194,687 +1.4
LORD ABBETT & CO LLC 1,968,770 1.27 0 +0.0
ACIS CLO LTD 47,949 0.03 0 +0.0
Biggest Changes in Reported Holdings
JPMORGAN CHASE & CO 14,071,463 9.08 +194,687 +1.4
LORD ABBETT & CO LLC 1,968,770 1.27 0 +0.0
ACIS CLO LTD 47,949 0.03 0 +0.0
FRANKLIN RESOURCES 124,854,172 80.55 0 +0.0

 

[D-4297]

Yup . No Corporate Raiders on that list . Listen , I got this bridge ....

 

[jelenko]

Depends on the type of bankruptcy. A chapter 11 filing is a petition to reorganize the company. Typically, the most Sr holders of debt (ie banks and secured holders) are first in line for recovery. Then Sr unsecured debt, then jr, then pfds and lastly equity. If there is a revolver to be drawn down, it’s usually done right before filing. If there isn’t, they obtain debtor in possession financing. Usually provided from the likely new owners. The court hears everybody’s arguments, signs off once terms are set, and the company emerges from BK with new equity, and possibly new debt. Then, the post emergent company continues to do business and hopefully not wind up back in BK court. Not sure if Remington had public debt at the top of the stack. Oftentimes, anybody who wants the biggest seat at the table will bid up pre-bk bonds to own the majority of them, and control the process, and ultimately take over the company. If there really is no hope of the company continuing as an ongoing concern, then the court’s only real job is to assign a trustee to oversee the liquidation process, in a ch 7 filing.
So will they still make primers? My guess is yes, in some form or fashion.

edit- I found 155mm in defaulted debt Here are your new owners:


Debt Holder (USD) Bonds Held % Out Latest Chg % Chg
Total Reported 140,942,354 90.93 +184,845 +0.1
FRANKLIN RESOURCES 124,854,172 80.55 0 +0.0
JPMORGAN CHASE & CO 14,071,463 9.08 +194,687 +1.4
LORD ABBETT & CO LLC 1,968,770 1.27 0 +0.0
ACIS CLO LTD 47,949 0.03 0 +0.0
Biggest Changes in Reported Holdings
JPMORGAN CHASE & CO 14,071,463 9.08 +194,687 +1.4
LORD ABBETT & CO LLC 1,968,770 1.27 0 +0.0
ACIS CLO LTD 47,949 0.03 0 +0.0
FRANKLIN RESOURCES 124,854,172 80.55 0 +0.0

Right. I'm familiar with Chapter 7 and Chapter 11. My question was: Is Remington operating in bankruptcy? [And, yes, it can't be chapter 7].

 

[Drolds72]

Right. I'm familiar with Chapter 7 and Chapter 11. My question was: Is Remington operating in bankruptcy? [And, yes, it can't be chapter 7].[/QUOTE
They filed chap 11. I am still getting markets emails from them. Are you asking this because you can’t find 7.5 primers?

 

[jelenko]

Just wondering. But, the current small rifle primer shortage is certainly on my mind.
I was thinking that if Remington had closed their doors, the shortage would be more severe.

 

[K22]

I don't see how shooting at a range could be much fun anymore in some places. I tried to be a range master to help our new pistol and rifle range get up and running a few years ago but after a couple of months I couldn't take it any longer. Between people not clearing their weapons while saying they had then pissed off when you called them on it and other people saying they are not hitting your target or the target next to them then ready to fight over the fact that they are clueless, it was not worth the effort for me. It seemed like a dangerous place. Especially when I can drive much closer to a place where I can shoot as far as I can see with no one around to have to consider. Hope you can find a better place to shoot where more respect is the norm.

I'm at the range 2 to 3 days a week weather permitting but never on the weekends anymore except the "bulls eye" pistol range (limits shooting to 25 and 50 yards) which is rarely used anymore except by me - everyone is flocking to the "combat pistol range" where they can blast away at 7 to 15 yards practicing their "self defense" skills. On this range you are allowed to draw and shoot - talk about an accident waiting to happen. One guy already shot himself in the leg. They now have "stop the bleed" medical kit attached to the one of the posts - I kid you not - you can't make this stuff up!!

The rifle range on the weekends is dominated by AR shooters blasting away with sustained fire of 10 to 30 rounds. Wonder how long the barrel is going to last? Wonder how they can afford the ammo or the components if they reload but most don't reload.

I see so many safety violations even during the week that it's disturbing. The one I hate the most is the guy handling a rifle when I'm down range and when I call him on it he responds, "it's not loaded". That really frost my ass to no end. At times I feel like I'm living in an alternate universe probably because I am Sorry for the vent - I seem to more of that these days.

 

[Steve Donlon]

I'm at the range 2 to 3 days a week weather permitting but never on the weekends anymore except the "bulls eye" pistol range (limits shooting to 25 and 50 yards) which is rarely used anymore except by me - everyone is flocking to the "combat pistol range" where they can blast away at 7 to 15 yards practicing their "self defense" skills. On this range you are allowed to draw and shoot - talk about an accident waiting to happen. One guy already shot himself in the leg. They now have "stop the bleed" medical kit attached to the one of the posts - I kid you not - you can't make this stuff up!!

The rifle range on the weekends is dominated by AR shooters blasting away with sustained fire of 10 to 30 rounds. Wonder how long the barrel is going to last? Wonder how they can afford the ammo or the components if they reload but most don't reload.

I see so many safety violations even during the week that it's disturbing. The one I hate the most is the guy handling a rifle when I'm down range and when I call him on it he responds, "it's not loaded". That really frost my ass to no end. At times I feel like I'm living in an alternate universe probably because I am Sorry for the vent - I seem to more of that these days.

That's way to much drama for me. Sounds like joining a private range club is the way to go if one is near by. It's to dangerous going to the one you go to now, my nerves couldn't take it if you know what I mean.

 

[jelenko]

Believe me, private clubs also have members who are ignorant of gun safety.

E.g., guy shooting an AK finishes shooting, turns around from the targets and starts cycling the action to unload the remainder of the rounds - muzzle pointing in my direction.

Another club - guys on the 300 yard firing line. Another member walks up to them to let them know he's going down range to work on something in the pit area - b ut, he says, its ok to keep shooting, he'll just walk along the far side of the range. WTF?

If there weren't the political concerns, I'd be all for requiring people to have gun safety training to own a firearm.

When people says - Don't worry, its not loaded - you know they are not safe to be around - including themselves.

 

[Baer45]

I think Winchester has a match primer line

They do and I have been pleased with them with my 6xc and 6.5 Creed loads...

 

[Baer45]

So, with the Remington ammo plant in AR, closing at the end of the month (so I have heard) and Wolf srm unobtanium, then does that leave the Federal SRmatch and the CCI BR4 as the only two small match rifle primers left? Is the CCI 41 considered a "match" primer?

I am assuming with the plant in Lonoke shutting down, that will be the end of the Rem 7 1/2 primer?

You mean the government won’t bail them out like GM, Chrysler and all those “green” companies facing bankruptcy?

 

[Coyotefurharvester]

Government bailouts are for union benefit support(then the union pulls money out to donate to democrat election candidates).

 

[dolek]

Government bailouts are for union benefit support(then the union pulls money out to donate to democrat election candidates).

SR match rifle primer left in production?

 

[jelenko]

"I am assuming with the plant in Lonoke shutting down, that will be the end of the Rem 7 1/2 primer?"

But, if Remington is operating in Chapter 13 bankruptcy, then the plant isn't shut down.

 

[Dusty Stevens]

Right. I'm familiar with Chapter 7 and Chapter 11. My question was: Is Remington operating in bankruptcy? [And, yes, it can't be chapter 7].

Remington lonoke plant will not have any employees in a couple of weeks so they wont be producing then and the employees are not too worried about production now as you can imagine

 

[jelenko]

Hmm. I'm finding that the plant in NY is laying off 700 of it's 800+ workers, but nothing about closing the plant in AK.

 

[Dusty Stevens]

Hmm. I'm finding that the plant in NY is laying off 700 of it's 800+ workers, but nothing about closing the plant in AK.

If youre talking about the one in AR then youll just have to trust a guy that has insider info. They have their walking papers and no retention bonus for staying til the end.

 

[jelenko]

Got it.
Thanks

Gonna make small primers really scarce.

 

[jonbearman]

Is the entire remington company gone now or what. Please pm with the news.

 

[JimT]

Remington lonoke plant will not have any employees in a couple of weeks so they wont be producing then and the employees are not too worried about production now as you can imagine

This will go down as the best kept secret in firearms history. The fact that it has not been reported in any local news outlet that I could find or the Washington Post is amazing. Seems like some sort of bankruptcy court filing would have taken place and the left/wing media would be all over it!