Remington filing for bankruptcy.

[TomH]

So will my Remington head shaver be still OK for spares or not?

Dromia will be along in a minute to tell you its a bullet shaver...

More likely to say that only poofs use shavers.


Remington Products split from Remington firearms in 1927.

[Laurie]

They will file Chapter 11 under the US Bankruptcy Code for bankruptcy protection from creditors, restructure, and come out of the other side and continue to trade.

Standard practice for US companies in financial difficulty since 1800.

Bit of a non event really, quiet day in the media/sensationalist story time.

It's rather more serious than that. To achieve Chapter 11 you need to be able to prove you are adequately funded to continue trading under Ch 11 rules, and it is debt repayment / outstanding interest on debts that are temporarily lifted. Remington is apparently nowhere near that solvent and is currently trying to raise money to put itself into that position. The word is that existing investors have lost patience and that US banks consider Remington Arms to be too risky an investment now to prop it up anymore.

There are two other external factors influencing this cash raising process. One is anti-gun investor sentiment and PC amongst many US financial institutions. The other is an ironic result of the flip side of the coin - with Donald Trump having said publicly that there is no situation in which he would allow anti-gun legislation to go through while he is president, analysts say that US firearms manufacturers face a lean time as the pressure to buy now while you can sentiment that was dominant during the Obama years no longer applies.

The US shooting industry has just gone through the largest and longest boom period in its history for various reasons. As Remington Arms lost money in it - unlike all its competitors who've seen boom times and profits - what does that say about the company and its business model? Would you invest in such an operation?

[TomH]

They will file Chapter 11 under the US Bankruptcy Code for bankruptcy protection from creditors, restructure, and come out of the other side and continue to trade.

Standard practice for US companies in financial difficulty since 1800.

Bit of a non event really, quiet day in the media/sensationalist story time.

It's rather more serious than that. To achieve Chapter 11 you need to be able to prove you are adequately funded to continue trading under Ch 11 rules, and it is debt repayment / outstanding interest on debts that are temporarily lifted. Remington is apparently nowhere near that solvent and is currently trying to raise money to put itself into that position. The word is that existing investors have lost patience and that US banks consider Remington Arms to be too risky an investment now to prop it up anymore.

There are two other external factors influencing this cash raising process. One is anti-gun investor sentiment and PC amongst many US financial institutions. The other is an ironic result of the flip side of the coin - with Donald Trump having said publicly that there is no situation in which he would allow anti-gun legislation to go through while he is president, analysts say that US firearms manufacturers face a lean time as the pressure to buy now while you can sentiment that was dominant during the Obama years no longer applies.

The US shooting industry has just gone through the largest and longest boom period in its history for various reasons. As Remington Arms lost money in it - unlike all its competitors who've seen boom times and profits - what does that say about the company and its business model? Would you invest in such an operation?

Good points Laurie, plus they are basically a two core product company with the 700 and 870 which are decades old and in a market that has moved on.

[GeeRam]

Will this affect Marlin as well then.......??

[TomH]

Will this affect Marlin as well then.......??

Undoubtably. Marlin production was taken in house by Remington, so it's not a seperate division that can be easily uncoupled by purchase from the main mess.

[Gazza]

So my head shaver spares are safe, phew! Thought I was going to gave to start going to the barbers again

[Dellboy]

So my head shaver spares are safe, phew! Thought I was going to gave to start going to the barbers again

TIGHT GIT ............

[Gazza]

So my head shaver spares are safe, phew! Thought I was going to gave to start going to the barbers again

TIGHT GIT ............

I prefer the term careful

[WelshShooter]

Remington firearms no longer have the quality that they used to. This is a direct effect in the manufacturing process when a company is bought out. Quality costs money. Most Americans wouldn't buy a new Remington firearm but rather by an old second hand Remington which actually functions well.

[Sim G]

Remington are still good rifles in essence. Actions and barrels are still the basis for many a custom gun. It’s the bits on them that cause the issues for those that don’t change stocks and triggers. Crap stocks and crap triggers supplied on what are in the UK, very expensive rifles. £1500 for a heavy barrel in a half decent stock with a crap trigger?! And why on earth they haven’t put an AICS compatable bottom metal on them now....!

Couple that with the debacle of the Marlin and H&R acquisition and the utter nose dive of Remingtons bid for a slice of the pistol market. It was only a matter of time and a situation of their own making given the reaction on US forums.