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Remington to sell ammo division #7973424 09/14/20 04:54 PM
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Adchunts Offline OP
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Today, the Wall Street Journal reports that . . .

Firearms maker Remington Outdoor Co. has agreed to sell its ammunition business out of bankruptcy to South Carolina-based investment firm JJE Capital Holdings LLC for $65 million plus the assumption of liabilities, subject to better offers.

The JJE offer came in the form of a stalking-horse bid, setting a floor on the sale price for Remington’s ammunition business, which the company has been marketing while in chapter 11. Remington filed for bankruptcy protection in July and has been open to selling its ammunition and firearms operations to pay off its debt.

The proposed deal outlined in papers filed Tuesday in the U.S. Bankruptcy Court in Decatur, Ala., covers the design and manufacturing of ammunition sold under the Remington and Barnes Bullets brands and includes production facilities in Arkansas and Utah


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Last edited by Adchunts; 09/14/20 05:00 PM. Reason: Added Utah to quote
Re: Remington to sell ammo division [Re: Adchunts] #7973580 09/14/20 06:51 PM
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This doesn't look good. Hope the buyer doesn't milk it dry and close the doors, but it won't be the first time, or the last that an investment firm did that. .


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Re: Remington to sell ammo division [Re: Adchunts] #7973693 09/14/20 08:33 PM
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If you can't make money selling ammo in this climate, you need to get a job in Government.


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Re: Remington to sell ammo division [Re: Adchunts] #7973709 09/14/20 08:49 PM
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My take is the company can't sell enough ammo to make up for their losses in litigation against them.


Dan

Re: Remington to sell ammo division [Re: Texas Dan] #7973754 09/14/20 09:25 PM
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Originally Posted by Texas Dan
My take is the company can't sell enough ammo to make up for their losses in litigation against them.


Yep $65M plus the assumption of liabilities. Here is when you better be dang sure you have done your due diligence on any liabilities not discharged by the bankruptcy.

Re: Remington to sell ammo division [Re: Adchunts] #7973973 09/14/20 11:31 PM
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Better check for Soros in the background. Buy it and close it down forever is what he's good at.

Re: Remington to sell ammo division [Re: Jimbo1] #7973990 09/14/20 11:45 PM
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Originally Posted by Jimbo1
Better check for Soros in the background. Buy it and close it down forever is what he's good at.


Wouldn’t surprise me to see that happen when Academy goes public soon as well.

Re: Remington to sell ammo division [Re: HuntnFly67] #7974007 09/15/20 12:06 AM
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Originally Posted by HuntnFly67
Originally Posted by Jimbo1
Better check for Soros in the background. Buy it and close it down forever is what he's good at.


Wouldn’t surprise me to see that happen when Academy goes public soon as well.



Some people think that Nazi Germany will never happen again...

Well you better wake your [censored] up. George Soros IS AN ACTUAL NAZI and he HATES America.

He owns the democratic party today and they are bending over backwards to take his money and sing along with the rioting & war on police, setting the stage JUST LIKE the brown shirts did.

The media is a very powerful tool. I hope that someday it will be used for good purposes.

I will reserve further comment.
.

Re: Remington to sell ammo division [Re: HuntnFly67] #7974078 09/15/20 01:18 AM
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Originally Posted by HuntnFly67
Originally Posted by Jimbo1
Better check for Soros in the background. Buy it and close it down forever is what he's good at.


Wouldn’t surprise me to see that happen when Academy goes public soon as well.


Soros could buy it now, been up for sale since KKR bought them.

Selling Remington ammo is like GMC selling GM finance. It’s idiotic and a death wise to brand. Ammo was actually making money

Oh well.


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Re: Remington to sell ammo division [Re: Adchunts] #7974162 09/15/20 02:30 AM
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I thought Remington was already sold out to a holdings company?


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Re: Remington to sell ammo division [Re: Adchunts] #7974226 09/15/20 03:51 AM
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JJE Capital Holdings LLC either owns or at least has some interest in Palmetto State Armory and their affiliates. To what degree, I don't know.


A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed.
Re: Remington to sell ammo division [Re: Adchunts] #7975957 09/16/20 12:48 PM
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Chef skinnerback knows what he is talking about.
The problem is this country hasn't been affected by a conflict since Vietnam 50+ years ago and that was mild compared to what Skinner's talking about. Example: my remaining 2 grandparents experienced butter ration vouchers and other rationing and they are just a few moons away from 100 years of age. The majority of the Americans that could explain the experience of serious conflict affecting their lives are dead. Every single day more Americans turn voting age and think that the world is fields of flowers and puppy dogs and those that don't have a field and puppy should be given one. They of course aren't willing to give up theirs but rather, let the government give it to them. A government big enough to give you everything you want is big enough to take everything you have, I say no thank you. My best friend spent some time in the sand box and has said many times, "until we have a war on our soil, it's gonna get worse." I fear he is right. The wave of red white and blue sheep stampeding at us is becoming overwhelming.
OK, let's go back to talking about an ammo manufacturer that has been in decline for years, as if it was news worthy.
back

Re: Remington to sell ammo division [Re: Adchunts] #7977781 09/17/20 03:06 PM
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I know there is a lot of sentimental attachment for Big Green, but I for one would not be upset to see them boarded up. I feel for the people who will lose their jobs, but I have no love for a company in this industry that is owned by people who dont care about the industry past the bottom line. I understand in 2017 they made efforts to change this (a little), but that was too little too late for me.

The only other path forward for them I wouldn't mind seeing is someone who ACTUALLY gives a damn buying them and turning them back into a single or small ownership group (not a investment fund) run company that goes back to the basics and commits to creating a product on par with their pre-CCM reputation. But I dont know how many pro-gun billionaires their are, so this seems unlikely.

Last edited by Roughneck913; 09/17/20 03:07 PM.
Re: Remington to sell ammo division [Re: Adchunts] #7977875 09/17/20 03:52 PM
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Re: Remington to sell ammo division [Re: skinnerback] #7978388 09/17/20 10:22 PM
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Originally Posted by skinnerback
Originally Posted by HuntnFly67
Originally Posted by Jimbo1
Better check for Soros in the background. Buy it and close it down forever is what he's good at.


Wouldn’t surprise me to see that happen when Academy goes public soon as well.



Some people think that Nazi Germany will never happen again...

Well you better wake your [censored] up. George Soros IS AN ACTUAL NAZI and he HATES America.

He owns the democratic party today and they are bending over backwards to take his money and sing along with the rioting & war on police, setting the stage JUST LIKE the brown shirts did.

The media is a very powerful tool. I hope that someday it will be used for good purposes.

I will reserve further comment.
.


It’s disappointing that more people don’t realize this.

Re: Remington to sell ammo division [Re: Adchunts] #7980688 09/20/20 12:16 AM
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I’m watching this with great interest. I reload shotgun ammo and Remington, hands down,’makes the best hull to reload the 12 and 20 gauges that I mostly shoot. It is the only one piece hull with a molded in base wad rather than a cheap base wad insert that can shoot loose. I hope the new buyer continues to produce the good hulls. I’m in the process of building a stockpile just in case....


Smokey Bear---Lone Star State.
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