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Remington Shoe Dropped

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Remington Shoe Dropped

Old 09-03-2020, 08:49 PM
  #11  
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Crap. Very sad to see Big Green go.
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Old 09-04-2020, 11:07 AM
  #12  
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[QUOTE=Nomercy448;4380433 some industry folks are pointing to an auction of Remington business components at the end of this month./QUOTE]

The auction bids are due at 10:00 CST on September 17th. Only the prequalified bidders will participate. Afterwards the bids will be analyzed to find the best deal (or deals) for the creditors. The US Bankruptcy Court has scheduled a hearing on September 23 to review and perhaps approve the recommended bid (or bids).

The results of this sale will be interesting. There will almost certainly be new owners of the assets of the business components but it does not necessarily mean the various Remington products will disappear from the marketplace. It could mean that the operating units are relocated to more "gun friendly" states that New York. What will happen to the Alabama facilities is anyone's guess at this time.

The only thing that anybody really knows about this situation currently is that all legal fees will be paid in full. There will be winners and losers.
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Old 09-04-2020, 04:01 PM
  #13  
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I would love to imagine a Savage-esque path in which new ownership sustains and corrects years of mistakes, such Remington can stand on its own legs in a 20yr plan.

Iíll be disappointed if weíre handed another Winchester-esque result where the Remington brand name just becomes a value trade piece.

Equally, nagging at my attention - I havenít asked around recently to the locals I know up in MN, but I have not heard what has been done with the Remington owned and recently closed DPMS facility. Thereís a lot of gear and a lot of experienced workers in that area which assuredly have considerable value in todayís firearm market, so I canít imagine that building and those hands shouldnít come back to work building ARís after all of this dust has settled.
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Old 09-05-2020, 06:57 AM
  #14  
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Its truly sad to see an American icon go. But they really did it to themselves. At one time my gun safe held nothing but Remingtons. Now however all I have in there is a 870 Super Mag I use for waterfowl. Their firearms way back when were quality guns. Then they experienced a downfall in quality for a while which IMO really hurt them. Then trying to save themselves came out with a few pieces of junk supposedly to be more affordable. Now they have started to put some quality back into their firearms but the scar still remains. The 700 in all its models is still a fine firearm albeit there are better out there for the price they are charging. The 700 action is second to none which is why many customs rifles are built around it.
I surely hope someone buys them and they again start back to building more American legends!
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Old 09-10-2020, 10:55 AM
  #15  
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A stalking horse bid (pre-auction bid by a debtor-selected bidder to establish the starting price of the auction, subject to separation reparation if the bidder doesnít win the auction) has been made for the ammunition business. Another capital management firm JJE Capital has made the opening bid for the ammunition business at $65m.
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Old 09-11-2020, 05:40 AM
  #16  
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I'm not sure I'll know how to kill a deer without a box of corelokts in my bag.
-Jake
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Old 09-11-2020, 01:25 PM
  #17  
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Part of me is quite confident that the ammunition business will carry on, relatively unchanged. Itís a successful brand, so a new buyer/investor would do well to sustain the brand name.

Notwithstanding is my sliver of concern that the collapse of the firearms business might be sufficiently damaging to the brand, such a buyer/investor for the severed ammunition business might be advantaged to clip the Remington name out of their life. Same folks running the same machines, but new labels on the boxes and new people signing the paychecks. It wouldnít be the worst thing that I could picture for the Remington ammunition business. But even under a different name, I expect SOMEONE will be left holding the IP rights and manufacturing equipment to make sure the Corelokt bullet survives into the future - and many of their other ammunition/bullets.

I suppose I do NOT know how many bullets/components they contract from other makers, such as the Accutip bullet line, which is manufactured by Hornady. The new owners may not wish to sustain such contracts, or the contractors not wish to sustain with the new owners, so we might see those fall aside - and if theyíre a large enough portion of the business, it might nuke the entire Remington brand.

Iím a bit surprised to see only $65m valuation on the ammunition company, so Iím prone to expect itís meant to be a severance + rebrand, not a buy and sustain play.
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Old 09-20-2020, 08:39 PM
  #18  
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It's absolutely incomprehensible that a gun company could manage to go bankrupt in this political environment, let alone an ammo company.
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Old 09-21-2020, 09:49 AM
  #19  
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It does sound like there's a little more to the story.
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Old 09-21-2020, 11:07 AM
  #20  
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Video posted 5 minutes ago:

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