Remington files for bankruptcy

This has been rumored for a long time, but Remington Arms will file for bankruptcy soon.

Most likely this is a reorganization and debt reduction move, and Remington will carry on as a brand. This won’t help near-term sales, however.

I have fond memories and my gun safes have many slots dedicated to the way things used to be with Big Green. My first shotgun that I ever owned was an 870 that I bought myself in 8th grade for the princely sum of $319. I’ll never forget the price, in the early 1980s that represented a LOT of hours at my summer and part time jobs.

My first deer rifle was a Remington and I have taken more deer with that rifle than with the rest of my firearms combined.

My father was given a Remington Model 11 autoloader in 20 gauge as his first gun when he was 8 and he still has it and shoots it. I gave him a matching Model 11 in 16 gauge to celebrate his retirement, his other 16 gauge 870 suffered a crack in the bolt and was not worth repairing, so he was happy to have a new “big” gun.

Hopefully Remington will find a way back.

Grouse

Remington is reportedly looking to have a debt of $700 million written off in its bankruptcy package.

If a business owes that much money, it does not deserve to be bailed out. Let it fail. Good riddance. I’d rather not see them back.

No Remington Arms? No 870 Wingmasters? No green semi see through high base 12 ga loads?

It’s never a good thing to lose competition.

It’s also never a good thing to run a corporation $700+ million in the tank with no feasible plan for daylight. If/WHEN they are bailed out via bankruptcy, it sets a precedent of fiscal irresponsibility.

It’d be somewhat of a bummer to see the competition go, but I’m to the point in life where I’ve got a firearm for just about any need I desire.

buckybadger wrote:

If/WHEN they are bailed out via bankruptcy, it sets a precedent of fiscal irresponsibility.

That horse has left the barn so long ago the farmer quit looking for it many moons ago….

Timmy wrote:

<div class=”d4p-bbt-quote-title”>buckybadger wrote:</div>
If/WHEN they are bailed out via bankruptcy, it sets a precedent of fiscal irresponsibility.

That horse has left the barn so long ago the farmer quit looking for it many moons ago….

The irony of the whole situation is what is really going to be comical. Some of the most hardcore “conservatives” or those who pretend to be conservatives are regularly up in arms (pun intended) about bailouts and financing. Now one of the staple companies of firearms and many conservatives is knocking on the same door with an open hand and sob story.

Sad to hear. My first gun was also a Remington 870, which I still own, even though it just collects dust. There’s something about the very first gun I’ve owned. Like you, I worked hard to buy it myself at 11. My second gun was one my father gave me when he upgrade, an 11-87 Premier. I also still own that one, but again, I don’t shoot it anymore.

I have lots of memories with Remington shotguns, and a few with their rifles. My first duck, goose, deer, pheasant, turkey, rabbit and squirrel were all taken with my 870 that I worked hard to buy. Quality may have slipped over the years, but their designs hold just as true as the day they were introduced.

I cut my teeth on a Rem 1100 20 guage, then moved up to an 870 12 gauge Wingmaster. 95% of all of the grouse, ducks and pheasants I’ve shot since the fall of ’76 when I was 14, have been with those two guns (and still use them both to this very day)
And every deer I’ve ever taken have been with that 870 and the 760 Gamemaster 30-06 I have. I was lucky in that my father got into buying guns, got uninterested in them just as quickly, but hung on to them. So tho I didnt purchase them, I feel like they are “mine” as I have taken care of them for the past 40 years.

Sad to see things have come to this for them. As far as the rights and wrongs of corporate bankruptcy filings, well, I’ll leave that to others to debate. I was a bankruptcy rep for a large national creditor for 6 years, and the stuff I saw come thru personal bankruptcy court filings made me shake my head constantly.

This is what private equity groups do. Buy a brand, saddle it with debt, take a ton of money out for “fees” or whatever and pawn it off. Remington was a prime candidate for this type of take over by freedom group. Remington has been doing nothing but living off of name recognition and walmart sales for years. Junk triggers in the 700’s. The R51 first generation being completely recalled and an utter failure. 597 recalls. Thunderbolt ammo recalls. The R9 handgun nobody wants so it’s already blowout priced under $200. 870 expresses that are so rough in fit and finish they don’t eject shells. They need to be bought by new investors, move all production to gun friendly states away from the northeast, and bring in new management to bring innovation and quality control back.

I’m in the same boat, age 12 got my first new gun for my birthday. A Remington wingmaster 870 20 gauge pump. I still have that gun also and it no longer gets shot. But it’s a memory I will never forget waking up on the morning of my 12th birthday with that gun in the box laying next to me. It would be a dang shame if they went under.

sticker wrote:

I’m in the same boat, age 12 got my first new gun for my birthday. A Remington wingmaster 870 20 gauge pump. I still have that gun also and it no longer gets shot. But it’s a memory I will never forget waking up on the morning of my 12th birthday with that gun in the box laying next to me. It would be a dang shame if they went under.

Its too large of an entity to be gone forever. Someone/somehow it will be bought out again and continue.

I was reading some of the very little info floating around about this today. My question is the same as many others – What will happen with the lawsuits/recalls?? 1000’s of bad triggers and other issues. If they “go under”, this could leave many people without re4solve to their issues. I suggest people identify if they have a firearm in the recall and get it fixed NOW

404 ERROR wrote:

Quality may have slipped over the years, but their designs hold just as true as the day they were introduced.

Yes, it was really sad to me that when under cost pressure, Remington tended to cheapen its own classic designs rather than do what became known to be a better way, create completely different products for a lower price point and keep the higher end products differentiated.

Whether it was fair or not, high profile recalls certainly did not help Remington.

I was never a fan of the 700 rifle or action personally, but there is no denying that Remington 700s were a good rifle and the actions provided the foundation for many fine custom builds over the years.

I hate to see any American manufacturer on the skids these days, especially one with as much history as Remington.

Grouse

202 years!
It was a good run.

The value of my Nylon 76 Lever Action should go up…

I hope they do go bankrupt, just like Dodge and GM should’ve gone bankrupt. They single handedly ruined Marlin, and Bushmaster. Break it up and let it go. I can buy a Tikka. I just hope that Marlin buys itself back and comes out with a good lever gun again. My 2 cents.

Steven Krapfl wrote:

I hope they do go bankrupt, just like Dodge and GM should’ve gone bankrupt. They single handedly ruined Marlin, and Bushmaster. Break it up and let it go. I can buy a Tikka. I just hope that Marlin buys itself back and comes out with a good lever gun again. My 2 cents.

If that happened,the domino effect would have been disastrous.All the suppliers to those companies would have went with.And the surviving automakers would have felt the sting.Who knows?

X2 a lot more people would’ve been affected by the automakers going down than people realize. It would’ve hurt myself and many others that work at companies in the auto industry with no ties to gm or Chrysler.

Regarding Remington the quality between the older guns and the newer stuff night and day.

Steven Krapfl wrote:

I hope they do go bankrupt, just like Dodge and GM should’ve gone bankrupt. They single handedly ruined Marlin, and Bushmaster. Break it up and let it go. I can buy a Tikka. I just hope that Marlin buys itself back and comes out with a good lever gun again. My 2 cents.

Bankruptcy doesn’t necessarily mean the end. It could be to restructure debt. Even if they collapse it may not be the end. Remember a few years ago when Hostess went bankrupt and we all thought it was the end of the twinkie?

…and the quality of yesteryears and the new twinkie is night and day!

Brian Klawitter wrote:

…and the quality of yesteryears and the new twinkie is night and day!

A company like Hormel should be modeled because look at SPAM and how that quality has stood the test of time.

Walleyestudent Andy Cox wrote:

Bankruptcy doesn’t necessarily mean the end. It could be to restructure debt. Even if they collapse it may not be the end.

Most news I’ve read says that this is probably a debt restructuring move and the end is not in sight for Remington.

However, even if Remington as a company goes out, the brand would very likely be scooped up and resurrected by another gunmaker similar to what happened with Winchester’s name and designs being licensed out for production.

Grouse