Remington files for Bankrupcy

**HomerOz** · 12-02-2018, 23:47

G'Day Fella's,

FYI.
https://www.bloomberg.com/news/artic...-in-bankruptcy

D'oh! and BUGGER!
Homer

**TStone** · 13-02-2018, 06:29

I heard rumors about this in December at an outdoor trade show in Canada.

**shooty** · 13-02-2018, 08:07

Wonder how this affects Marlin. As Ive read apparently since 2007 or 2010 Remington has been making the barrels for Marlin rifles.

**GameFarmer** · 13-02-2018, 09:15

My Remington rifles are really accurate and joy to own. This is sad news.

**Brendank** · 13-02-2018, 09:35

Originally Posted by HomerOz

G'Day Fella's,

FYI.
https://www.bloomberg.com/news/artic...-in-bankruptcy

D'oh! and BUGGER!
Homer

Not good. But if their recent sales here are anything to go by, I'm not surprised.

**Toxxyc** · 13-02-2018, 09:42

Aww man, that's not good. Not a particular fan of Remington nor do I own any of their products, but it's always a loss when a manufacturer kicks it.

**Wanderin' Zero** · 13-02-2018, 09:48

"Cerberus Capital Management, acquired Remington in 2007 and subsequently saddled it with almost $1 billion in debt."

Sounds just like the Edcon story.

"The Chapter 11 bankruptcy filing will let Remington stay in business while it works out a plan to turn around the company and pay its creditors."

And that's almost always the plan.

**A-R** · 13-02-2018, 09:50

Remington have over many years built up a reputation for quality and accuracy. More recently, there have surfaced complaints about the quality. Apparently Marlin have also had quality and accuracy issues since being taken over my Remington.

Add to that the general decline in demand due to political reasons (Obama and Clinton were excellent gun saleswomen) and they may have a problem on their hands.

The quality and price of opposition brands on the US and world market (think Howa etc.) also did not help them much.

Let us hope someone with enough savvy can take over and rescue the legendary brand.

**krieger** · 14-02-2018, 05:28

Capital firms buy stuff they have no idea of how to manage or run. They let the company run itself down then they chapter 11, break up the pieces and sell it off. They have no intention of building and developing the company for the long term. Then off to destroy the next company. Pretty common business practice here in the US.

**Wanderin' Zero** · 14-02-2018, 06:23

I don't know about breaking it up but overloading previously conservative companies with debt is an old private equity habit.

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