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#4414129 - 05/25/17 02:26 PM Remington circling the drain
L_Sludger Offline


Registered: 10/04/09
Posts: 3947
Loc: Ohio
I heard that Remington was unable to make payroll recently. They also have stiffed suppliers with over 90 days of unpaid invoices.
This news brings me no pleasure. Hopefully they will get to reform and get out of the clutches of the hedge fund that owns them. Their quality control has been poor recently and that led to a spiral of decreasing sales and decreasing quality to shore up their bottom line.

CDNN has Remington's newly-released RP9 at blowout prices. $249 after rebate. This gun was supposed to sell for around $500.
https://www.cdnnsports.com/remington-rp9-9mm.html
Try to think of CDNN as the Big Lots of gun stores. Not good news for Remington at all.
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#4414159 - 05/25/17 03:12 PM Re: Remington circling the drain [Re: L_Sludger]
daves87rs Offline


Registered: 02/23/09
Posts: 16963
Loc: Michigan
Expecting them to be gone quite soon....
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#4414162 - 05/25/17 03:14 PM Re: Remington circling the drain [Re: L_Sludger]
wemay Offline


Registered: 04/04/12
Posts: 8861
Loc: Southeast Florida
RP9:

Run of the mill double stack polymer frame ho hum, ugly gun. The reviews have been mixed. For $500? No way. $249? maybe.
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#4414163 - 05/25/17 03:15 PM Re: Remington circling the drain [Re: L_Sludger]
ammolab Offline


Registered: 01/16/06
Posts: 995
Loc: Ruidoso, NM USA
Record level gun sales the last several years, correct? No one making/selling guns or ammo should be in financial distress now. Maybe in a year or two there will be trouble for some, because if you study sales charts...after every peak, there is a valley.
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#4414179 - 05/25/17 03:28 PM Re: Remington circling the drain [Re: L_Sludger]
Bottom_Feeder Offline


Registered: 12/07/08
Posts: 3005
Loc: Occupied Virginia
All the ugly huge-font Remington branding on that thing is half its problem.

That said, $250 sounds totally worth it.

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#4414181 - 05/25/17 03:29 PM Re: Remington circling the drain [Re: L_Sludger]
dlundblad Online   happy


Registered: 09/30/13
Posts: 10002
Loc: Indiana
Too bad about Remington. This is news to me.
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#4414195 - 05/25/17 03:46 PM Re: Remington circling the drain [Re: L_Sludger]
Reddy45 Offline


Registered: 08/15/08
Posts: 2962
Loc: USA
They're owned by one of those holdings groups right? Cerebus or Freedom Group or something?

Aka the groups that exist to squeeze the last bits of any company they acquire before selling it off to the next poor sap.

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#4414219 - 05/25/17 04:10 PM Re: Remington circling the drain [Re: Reddy45]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: Waco, TX
Originally Posted By: Reddy45
They're owned by one of those holdings groups right? Cerebus or Freedom Group or something? A.k.a. the groups that exist to squeeze the last bits of any company they acquire before selling it off to the next poor sap.


Pretty much. Reminds me of Danny Devito's "Other people's money"
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#4414251 - 05/25/17 04:47 PM Re: Remington circling the drain [Re: Reddy45]
edwardh1 Offline


Registered: 01/17/03
Posts: 2938
Loc: Coastal South Carolina
agree-- hedge fund extracks money and leaves a broken hulk
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#4414252 - 05/25/17 04:50 PM Re: Remington circling the drain [Re: wemay]
funflyer Offline


Registered: 06/26/14
Posts: 690
Loc: Northern Arizona
Originally Posted By: wemay
RP9:

Run of the mill double stack polymer frame ho hum, ugly gun. The reviews have been mixed. For $500? No way. $249? maybe.



For $249 maybe, worst case scenario, you can always keep your papers from blowing off the desk when that brick fails and Remington is no longer around to fix it.
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#4414267 - 05/25/17 05:08 PM Re: Remington circling the drain [Re: ammolab]
JHZR2 Offline



Registered: 12/14/02
Posts: 41764
Loc: New Jersey
Originally Posted By: ammolab
Record level gun sales the last several years, correct? No one making/selling guns or ammo should be in financial distress now. Maybe in a year or two there will be trouble for some, because if you study sales charts...after every peak, there is a valley.


Not if hedge funds suck all the money out in the fat years, and leave nothing in the lean. A HF's CEO isn't there to better the company to create value on the company. Their fiduciary responsibility is to the hedge fund shareholders, who don't necessarily care at all about the business unit itself.

Your point is valid though. Its a cycle.

Its a shame because I did want a remington 700, but haven't been impressed with their recent offerings. I also had a few Marlin guns I was interested in but have bought other options instead.

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#4414268 - 05/25/17 05:08 PM Re: Remington circling the drain [Re: L_Sludger]
RichardS Offline


Registered: 01/14/17
Posts: 616
Loc: Melbourne, Florida
This is what happens when you answer to the stock holder, and not the customer. You're forced to squeeze maximum return in the short-term with no care to the long term.

Milk it till it drops, and then dump it off on the next poor sap that wants to actually revive it.
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#4414461 - 05/25/17 09:25 PM Re: Remington circling the drain [Re: L_Sludger]
SF0059 Offline


Registered: 08/06/12
Posts: 789
Loc: Lynchburg, VA, USA
Remington had it's woes before the hedge fund took over. They are the GM of the firearm industry... huge, storied name and horribly mismanaged for decades.

My guess... it will be declared insolvent and the designs, product lines and Remington name will be sold off piece meal. It wouldn't be a bad purchase for a foreign arms manufacturer to gain a foothold in our domestic manufacturing.
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#4414485 - 05/25/17 09:53 PM Re: Remington circling the drain [Re: L_Sludger]
HangFire Offline


Registered: 08/21/13
Posts: 2506
Loc: Central Maryland
http://www.uticaod.com/news/20170309/remington-arms-lays-off-122

Looks like they still have a lot of employees, over 900. If they weren't going to make payroll, seems to me they would have layed off more than 122 in March.
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#4414524 - 05/25/17 10:56 PM Re: Remington circling the drain [Re: L_Sludger]
L_Sludger Offline


Registered: 10/04/09
Posts: 3947
Loc: Ohio
My info is pretty recent, but came from who was presumably an insider.
In any case, I hope for three things:
1) It's not as bad as it sounds,
2) Remington regains a reputation for quality,
3) Gun craftsmen get to keep their livelihoods.
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