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  #1  
Old 14 February 2018, 09:54
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Remington filing bankruptcy

https://www.nbcdfw.com/news/local/Gu...473968583.html

Looks like Remington Arms is filing Chapter 11 and Cerberus Capitol Corp is going to relinquish control of the company as soon as the bankruptcy is complete..

Slow sales and big inventories are being cited for their massive losses over the past year (Im sure the Sandy Hook law suit and the defective Rem 700 trigger that got recalled played a part as well)..

I guess POTUS Obama was good for something.. during his presidency gun and ammo sales stayed high the entire 8 years despite high prices...

bring in someone that isnt anti 2A, and suddenly gun and ammo makers have to be competitive to maintain market space lol..
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Old 14 February 2018, 13:43
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I wonder if they are planning a big sale to clear out some of that excess inventory?
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Old 14 February 2018, 13:56
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This should be a new bar for how to run a company into the ground. Just sell it to a hedge fund!

Seriously, the "greatest" gun market in years with sales through the roof and panic buying across the board...........and literally a little over a year later into a (R) presidency you're declaring bankruptcy. What. The. Fuck. And no, those two Sandy Hook and trigger recall I don't think should've sunk the boat at all.
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Old 14 February 2018, 13:58
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Hopefully I can get a cheap ACR.
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Old 14 February 2018, 14:06
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I actually have wanted an ACR for a while too. In SBR platform. Ugh. Money.......
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Old 14 February 2018, 14:11
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the truth is their business model sucks..

shy of their 1911 clone they arent in the CCW market at all.. their R1, RP R380 and other attempts to get into pistols have been abject failures.. huge amounts of money invested, and huge losses associated..

they have been loosing more and more market share with their bolt actions for years.. between all the controversy with the 700 trigger, and their horrible attempt to get into the "entry" level market space with the 783 have pretty much sunk them on a front where they used to be a leader.. Ruger, Mossberg, and Savage have dominated the "entry" market.. and Winchester, and several euro brands have been grabbing more and more of the middle and premium markets each year for a long time..

They tried to get into the AR15 market as well.. and once again, have failed...

Lets not forget the class action lawsuit against them in the late 90's for their shotguns (another market they dominated for decades and then have seen reduce slowly year after year after year for the past 20 without recovering)..

Other companies arent going tits up one year into an (R) presidency..

Other companies are reporting lagging sales and increased inventory..

but other companies are actually listening to their customers and producing shit their customers want at a price their customers are willing to pay, that is of reasonable quality for the price..

Remington has failed to do that for a long time...

I thought there was a chance Cerberus would turn them around actually.. integrating them in their "Freedom Group" with Marlin, Bushmaster, and other firearms manufacturers (who are all doing peachy I might add..) should have set them up for future success...

but.. apparently not..
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Old 14 February 2018, 14:18
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Quote:
Originally Posted by DirtyDog0311 View Post
This should be a new bar for how to run a company into the ground. Just sell it to a hedge fund!

Seriously, the "greatest" gun market in years with sales through the roof and panic buying across the board...........and literally a little over a year later into a (R) presidency you're declaring bankruptcy. What. The. Fuck. And no, those two Sandy Hook and trigger recall I don't think should've sunk the boat at all.
These guys suck the life out of everything they touch. Coupled with a miraculously boring new line up of weaponry, not a good recipe for success.
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Old 14 February 2018, 14:36
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I wonder if they factor in their abysmal QC to the lack of sales. The trigger recall issue was a big factor in the sales decline (of their flagship 700 model), and their 597 (.22LR) had multiple returns. I will say, Remi's cheap ammo worked well enough for plinking.
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Old 14 February 2018, 15:10
DirtyDog0311 DirtyDog0311 is offline
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Just one look at their products on their website could have told you they were run by boring old Fudds that really had no idea wtf they were doing. The website is just full of depressingly lame products.

The thing that gets me is that it's really not that hard to tell what the customers want. Brownells and Troy both knocked it out of the park with the retro shit ---- and anyone who's browsed an ARF thread could tell you that when people are shelling out serious cash for 'obsolete and hard to find' parts on the EE, yeah there's a market there. That's not even being innovative. It's an already-established market with considerable demand, you just have to fill it and hire a guy with a wheelbarrow to take all the money you make to the bank. And a lawyer to make sure you're not patent infringing somewhere.

Or the other route is to just look at instagram for inspiration. Lots of little shops here and there doing awesome stuff, like QC10's AR9 lower that accepts MP5 mags. People have been screaming about that for a long time, and was halfway fulfilled by SIG's MPX. Remington is/was a huge company with an established megaphone in the form of name recognition and market strength to match. Not to mention machine shops and knowledgeable people working for them. Anything decent they put out could have been a serious contender if they just would have done something worth a shit. IMO, their last gasp was the ACR, and the company just kept swirling the toilet bowl from that point on.
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Old 15 February 2018, 10:57
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Originally Posted by DirtyDog0311 View Post
I actually have wanted an ACR for a while too. In SBR platform. Ugh. Money.......
If Remington actually priced them around the $1.2k range. And had the caliber kits they might have had a winner. I agree their product line is boring. Like Colt they failed to evolve with the times.
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Old 15 February 2018, 11:06
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Originally Posted by The Fat Guy View Post
These guys suck the money out of everything they touch. Coupled with a miraculously boring new line up of weaponry, not a good recipe for success.
Fixed it for you. This is the new form of corporate raiding. Acquire a brand with a reputation for quality, move the manufacturing out of the existing locations, and make the brand's products with much lower QC and cost. Folks continue to buy based on prior reputation for a while, then the word gets out, and profits drop. File that company bankrupt, move on to the next brand.
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  #12  
Old 15 February 2018, 11:12
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Good riddance. Crap quality and crap service. Had young family friend, 19 years old, that had his trigger guard break off of his Remington 700, after only about 50 rounds fired. Remington would not honor the warranty and replace. Piss on them.
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Old 15 February 2018, 11:14
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Originally Posted by gavin View Post
Fixed it for you. This is the new form of corporate raiding. Acquire a brand with a reputation for quality, move the manufacturing out of the existing locations, and make the brand's products with much lower QC and cost. Folks continue to buy based on prior reputation for a while, then the word gets out, and profits drop. File that company bankrupt, move on to the next brand.
Why are you talking about SIG? This is a Remington thread. I am confused - you should start a new thread if you want to talk about SIGs.
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  #14  
Old 15 February 2018, 12:03
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Why are you talking about SIG? This is a Remington thread. I am confused - you should start a new thread if you want to talk about SIGs.
LOL from the site's lone SIG fan, (At least it feels that way sometimes.) I see what you did there. Funny guy.
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Old 15 February 2018, 12:17
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LOL from the site's lone SIG fan, (At least it feels that way sometimes.) I see what you did there. Funny guy.
The only good Sig is a W.German Sig.

I agree that poor QC and CS has probably not helped Remington either. Reputation is everything in the gun world IMO.
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