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Remington To File For Bankruptcy

if Remington would just put in place a quality control department that would stop obvious defective firearms before they go out. I have many memories of very accurate 700 rifles that functioned flawlessly. I know Remington still puts out many great firearms but its the obviously flawed ones that gets out because of no quality control that by word of mouth taints the rest. even some of the top customs have flaws but the percentage is lower. in manufacturing there are going to be lemons but with good quality control not many get to the consumer. Remington firearms have been a part of life to just about us all at one time or another, and I sure hope they can get it under control and put out the really good firearms that most of us have enjoyed at one time or another in our life.
 
May muddy the waters but they got hit with a perfect storm. After Newtown, Cerberus tried to sell them but couldn't find a buyer, big investors/pension funds wanted out, Remington borrowed the money to buy them out. They missed the boat in more ways than one with the AR and CCW pistol craze. Savage and others stepped up their game. Quality issues reared their ugly head. Donald Trump won the presidency and eventually not enough sales to service the debt. Oh thank heaven for Chapter 11.:)

https://www.dailynews.com/2015/06/2...e-pensions-selling-controversial-gun-holding/

http://www.sacbee.com/news/business/article23501845.html
 
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jds holler said:
I guess I have and have had more Remington firearms than any other brand. As I sit here and think about all of them, it makes for a lot of fond memories. They've always been a solid choice for quality for the money, and I don't know if their recent problems and complaints are more common than other brands. I would be sad to see them go. jd
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I'm with you too. I've owned countless Remington rifles over the years and have never owned a bad one. My latest is from 2012 and I have no complaints with it.

Would hate to see the end of Remington.
 
Anyone who has watched Seberus for any time could see this coming. It made sense to cut and run in NY to the south. what we don't look at is the reallocation of cash flow (from divestment, not product sales) to the leaders, while the business itself is gutted. Make no mistake, Remington made money...for a few.
 
Cut the crap Remington. Three things to do: 1. Get a CQ. 2. Make quality guns. 3. Priceraise.

I rather own one quality R700 or Wingmaster then an arsenal with the junk coming out the factory these days
 
TheDugg said:
Cut the crap Remington. Three things to do: 1. Get a CQ. 2. Make quality guns. 3. Priceraise.

I rather own one quality R700 or Wingmaster then an arsenal with the junk coming out the factory these days
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DO AWAY WITH THE PLASTIC JUNK AND GO BACK TO SOME NICE WOOD STOCKS ON THE ADL RIFLES AND I KNOW THEY WOULD SELL JUST LIKE THEY DID SOME YRS BACK !!!!!!!
 
After being bought out their QC and CS went and so did alot of buyers , once they managed to screw up the 870 I was done.. I bought a Marlin 60 for kicks with Xmas gift cards I have 4 other .22s didn't even need it , they to were bought out also , it fell apart in one outing... I called the number listed to send it back and Remington answered the phone... I fixed it myself , it seems to like my wife so I gave it to her after I put it back together it has stayed together... Their CS Dept said we will mail you the form to send it back , that was last January I think. Still waiting... If it breaks again I will wrap it around a tree and throw it in the garbage I have no plans to buy another Marlin or Remington.. All companies that sell out suffer Bushmaster , Sig , Remington , Marlin etc...

They have to try and compete with cheaper rifles because today's technology and machines turn out a $350 dollar rifle that meets the needs of most people.. The days of getting a wood stock hand built gun made in America , that's cheap enough for the average man is gone and not coming back...
 
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ebb said:
Remington isn't going away, Colt has been playing this same game for years and they are still here.
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Barely, and try talking to the customer service there! Like the old Monty Python skits...where you pay to be abused, insulted and argued with
 
I looked at a 783 awhile ago. I have tomato stakes that look better. I also worked on an old 700 from the 70's a couple weeks ago and kind of lusted for it. Remove the name "Remington" from the product and rename them "Cerebus". Barlow
 
KMart said:
Please explain this to me. Do it in simple terms because I have the financial mind of a pi$$ ant.

The employees and all suppliers are still going to get paid. Yet $700 million in debt is going to go away AND they pay out another $145 million of new money to their subsidiaries. Are they printing their own money now?

if my bank account was upside down, my creditors would be over here picking up my stuff.
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not if you filed chapter 11.
 
300_whisper said:
“A bankruptcy discharge eliminates debts, but it does not eliminate liens. So, if you have a secured debt (a debt where the creditor has a lien on your property and can repossess it if you don't pay the debt), bankruptcy can eliminate the debt, but it does not prevent the creditor from repossessing the property.”

This is an over simplification, but any assets Remington doesn’t deem profitable or is owned by the creditors gets sold or given back to the creditors to make up for the debt. The courts determine how much Remington owes the creditors. Normally what happens with large organizations like this is another creditor comes and buys the “bad” debt. The same thing happened with the motor vehicle industry, but the creditor who purchased the bad debt was the us government.
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chapter 7 prevents them from even asking you for money
 
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