Remington Seeks Financial Help with Bankruptcy

With slumping gun and ammunition sales, Remington, like many other firearm companies is running into financial trouble. The company missed the payment on a coupon for their debt and is now trying to find enough funding to allow them to file for bankruptcy protection and a way to remain in business.

I hate to say this, but maybe it’s best that they just die.

But then who would create over-hyped expensive garbage rifles that go off spontaneously? I mean Savage is giving it a good stab, but their trigger is too safe to properly fill big R’s shoes.

Look at all of Remington recalls that's they are going bankrupt no quality.

You reap what you sow.

Savages are literally none of those things. They get thrashed all the time on forums, mostly for being ugly. Hardly anyone builds a custom Savage. I have 3 stock rifles and they are all moderately priced and shoot great but impress none of my friends. Savage is probably the last rifle you buy as a status symbol.

chalk up another for the anti gun groups.

How so? They didn’t do this, and there’s plenty of other companies to pick up the slack.

How?

There is no shortage of firearm manufacturers that are producing good products.

Remington put themselves in this mess, and good ole American Capitalism is working perfectly. Build a crap product, and you'll go under.

I agree with FiremanJG, BigDog56 and a few others posts. Remington is putting out crap and asking for premium prices. Their days of producing quality has passed and they are circling the drain. I can't say that I'm surprised nor do I actually care at this point. You should not try and screw the consumer.

Corelokts

I think this is a scam. The owners have raped all the money out of Remington since acquiring it; it cant be sold with this debt. They are doing this to off load the debt and sell off the company. They also separated DPMS/Bushmaster/NEW/H&R from the corporate group before doing this.

Remington will go out, shed the debt, be sold to a holding company, then sold again to a gun manufacturer, and return in full force.... corporate shell game to defraud the debt holders

I think someone, somewhere will pick up the 700 design and produce it---just like what happened with the Model 70. Who knows, maybe they'll make the changes everyone would like to see and build in a facility where QA has some horsepower.

I don't feel sorry for them but it would be a sad day in American history for Remington to go away. Hope someone can get them back on track.

Surely. I certainly hope so. A well built 700 action is a desirable thing.

I agree completely with your assessment. Since being sold by Dupont way back, every owner since then has not shown any interest in actual investment into the company. Instead, they have cut and cut and cut until Remington is just a shell now. I think the quality problems are part self inflicted but mostly the fault of ownership. They have cut corners to generate cash and destroyed quality and moral along the way. Cerebus Capital is your typical LLC. Buy a company, strip it down to bare minimum, don't invest, and suck cash out of it until the company implodes......then sell it off in pieces.