200-year-old gunmaker Remington seeks bankruptcy protection as pressure on industry grows 200-year-old gunmaker Remington seeks bankruptcy protection as pressure on industry grows
The Remington ammo plant is close to me, I talked with a guy that works there and he said the main guy at cerebus was embezzling money and put them in a hole. They also was putting out junk and got a reputation for it. My son bought his son a 243 rifle and it's a piece of junk. magazine is thin as a beer can. the bolt is a joke and takes a strong man to operate it. it's really hard to work.
Remington makes a decent AR15 maybe we should all buy one. Their 1911s aren't half bad either. I would buy their r1 over the ARs. That article couldn't be anymore silly Pressure? Haha. Useless idiots had nothing to do with it. Make sure you blame the big T word too!!!!
I quit buying Remington ammo years ago due to quality. The price keeps going up and I will accept the price increases but not when the quality is reduced. I know they are trying to pump out record volumes of ammo the last 5-10 years...mostly due to the political climate, but profits seem to be the key focus while quality slips to near dangerous levels. Just look up Remington ammo recalls...
They make very bad decisions.. like buying H&R, and eliminating the Ultra Sluggers but keeping the Pardner which competes directly with the 870??? I know tons of people with the ultra slugger, not a one with the Pardner. Ive also heard post rem marlin 336C’s are very bad guns that lock up a ton nor cycle rounds... thats ridiculous, because the 336C I killed my first deer with many moons ago is still running like a champ today, infact I try and make it a point to put one in the freezer with it every year for that extra smile it gives me. I do shoot rem slugs to this day... however I wouldnt buy a new rem weapon unless I heard some positives with a tenure... and bring back the Ultra Slug u googans!!
I'm afraid I have to agree-not much from Remington tempts me today-which is odd, because I think I own more Remington's than any other make- all made in the 1980's and early 1990's.
does everyone realize Remington was bought by the investment firm Cerebrus in the early 2000's, profits first quality second. This is the same firm that almost bankrupted several major companies. Cerberus buys them pillages the pension plans, borrows massive sums against their business, splits them up and sells them off or just lets them die. The troubles have been a blow to Cerberus, owned by private-equity billionaire Stephen Feinberg, who has been a prominent Trump supporter. New York-based Cerberus acquired Remington in 2007 and saddled it with almost US$1 billion in debt. After the Sandy Hook shooting, Cerberus announced it would sell the company, as its own agitated investors demanded an exit, but it failed to find a buyer.
I guess I will never get my $40 they owe me from an ammo rebate back in November 2016. What a horrible company to deal with. I have boycotted the freedom group ever since, which they don't make any guns I want. I had a dealer tell me that they had new Remington's come in that had rust on them. He said they did not want to deal with the little man, they wanted to deal with the big box stores. It is sad to see an old American company go down the drain like this.
It is indeed sad when an old company gets taken over by a greedy bunch of people that's only concern is the money, cheapin the product up and sell. I understand they may have to raise prices to stay a float but to start putting out junk is unexcusable. I have seen a few companies do this over the years and it almost always comes back to bite them in the butt. I truly hope someone buys them out and brings back the quality they used to have. A lot of jobs will be lost if not. the ammo plant here is huge and employs many people. They built a big building added on just to make 9mm not too long ago. I haven't looked at many Remington rifles lately but I know the one my son bought is junk. the mag is so flimsy it will not hold the four rounds you put in it. the sides give and the ammo pops out. he sent it back two times and they sent him the same garbage. and as mentioned the working of the bolt is a hit and miss thing. I have a few older Remington guns and they are made like they should be, they need to get back to that.
sop for corporate holding companies, bleed it dry,then sell the husk ( which most of time all you are getting for the money is the trade name)
Remington-Colt merger? Remington anecdote: Friend of mine is a Trooper for State Patrol. They were breaking AR style adjustable stocks on a tactical version of 870s (duty weapons). Protocol for a jam is to hit the butt of the stock against the ground to help clear the jam (expended shell that hangs up in receiver), so they had to go to a more durable buttstock. I ask..."Jams?" 'Yes, often." I was very surprised. I have an Express model, yep the cheap one, from 1990, it is smooth as butter and I can hardly remember it ever jamming on me, if at all. That was a real eye opener for me as far as modern Remington 870 shotguns. Previously, I knew them to be very good quality and very reliable. There are at least 11 million 870 shotguns in the world. Impressive by any measure. The 870 was the first firearm I could call my own. My Mom bought it for me from K-Mart for my 13th birthday. Layaway no less! No NICS check back in those days. Today, it sits in a case, beat up and partly rusty due to neglect. It is for sure a "field gun" and I always treated it as such. It also happens to be my most cherished firearm due to the connection with my Mother and the early hunting memories I made with it. I had once decided I was going to clean it up and re-blue...then changed my mind...I like the "ugly" on it. I managed to out shoot some pretty fancy guns with it at a pheasant hunt a friend took me on some years back. Silver Pigeons, Red Label Rugers, Auto 5's, etc. The rusty Remington took more birds individually than any of them. What a fun weekend that was!
I bought Smith and Wesson stock as a hedge against Hillary, and have been monitoring it, with an interest as they merged the firearms into their other brands and they are all one, which means they are at risk of the same fate. They had purchased a silencer manufacturing company in anticipation of the so-called hearing protection act. Then the Las Vegas killings happened. Like Cerberus they are now at risk of consumer backlash as a gun company owner. Between that and a couple bloodsuckers in the corporation, their fate could be similar. I also bought Harley Davidson prior to their big announcement. What you gonna do?
Its not the gun so much as the operator, done the same thing on occasion, couple times on purpose and once on a dare.
That's called mortaring, I have mortared AR15's and AR10's a few times. you have to collapse the stock or it can break easier. leaving it extended is prone to breakages if mortared.
Yeah, i was struggling with terminology. Not really an FTE, not really a "jam". I am unsure of the buttstock maker...possibly Knox.
This will be interesting to follow. Typically a company like this would be a ripe target for PE to come in and scoop it up, rape it for all its worth, and eventually end up with just a brand that they license. The company would just be a name in the end. But now that big banks like Citi are limiting their clients' activities around firearm dealings, PE might not be able to raise the capital needed.
