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Remington circling the drain #4414129
05/25/17 01:26 PM
05/25/17 01:26 PM
Joined: Oct 2009
Posts: 3,947
Ohio
L_Sludger Offline OP
L_Sludger  Offline OP
Joined: Oct 2009
Posts: 3,947
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.


too many cars and oil combinations to list in 150 characters or less
Re: Remington circling the drain [Re: L_Sludger] #4414159
05/25/17 02:12 PM
05/25/17 02:12 PM
Joined: Feb 2009
Posts: 17,292
Michigan
daves87rs Offline
daves87rs  Offline
Joined: Feb 2009
Posts: 17,292
Michigan
Expecting them to be gone quite soon....


Coming together is a beginning; keeping together is progress; working together is success.

Henry Ford
Re: Remington circling the drain [Re: L_Sludger] #4414162
05/25/17 02:14 PM
05/25/17 02:14 PM
Joined: Apr 2012
Posts: 9,830
Kendall, FL
wemay Offline
wemay  Offline
Joined: Apr 2012
Posts: 9,830
Kendall, FL
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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Re: Remington circling the drain [Re: L_Sludger] #4414163
05/25/17 02:15 PM
05/25/17 02:15 PM
Joined: Jan 2006
Posts: 1,060
Ruidoso, NM USA
ammolab Offline
ammolab  Offline
Joined: Jan 2006
Posts: 1,060
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.


2009 Honda CR-V
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Re: Remington circling the drain [Re: L_Sludger] #4414179
05/25/17 02:28 PM
05/25/17 02:28 PM
Joined: Dec 2008
Posts: 3,116
Occupied Virginia
Bottom_Feeder Offline
Bottom_Feeder  Offline
Joined: Dec 2008
Posts: 3,116
Occupied Virginia
All the ugly huge-font Remington branding on that thing is half its problem.

That said, $250 sounds totally worth it.

Re: Remington circling the drain [Re: L_Sludger] #4414181
05/25/17 02:29 PM
05/25/17 02:29 PM
Joined: Sep 2013
Posts: 10,680
Indiana
dlundblad Offline
dlundblad  Offline
Joined: Sep 2013
Posts: 10,680
Indiana
Too bad about Remington. This is news to me.


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Re: Remington circling the drain [Re: L_Sludger] #4414195
05/25/17 02:46 PM
05/25/17 02:46 PM
Joined: Aug 2008
Posts: 3,231
Where the wind comes sweepin'
Reddy45 Offline
Reddy45  Offline
Joined: Aug 2008
Posts: 3,231
Where the wind comes sweepin'
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.

Re: Remington circling the drain [Re: Reddy45] #4414219
05/25/17 03:10 PM
05/25/17 03:10 PM
Joined: Dec 2016
Posts: 7,143
Waco, TX
Linctex Offline
Linctex  Offline
Joined: Dec 2016
Posts: 7,143
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"


"The evidence demands a verdict".
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Re: Remington circling the drain [Re: Reddy45] #4414251
05/25/17 03:47 PM
05/25/17 03:47 PM
Joined: Jan 2003
Posts: 3,150
Coastal South Carolina
edwardh1 Offline
edwardh1  Offline
Joined: Jan 2003
Posts: 3,150
Coastal South Carolina
agree-- hedge fund extracks money and leaves a broken hulk


These products are all new every year?? They are a revolution!!! Razor blades, mens shirts, TVs, wiper blades, gutter guards, hearing aids... according to the ads. But also all new last year
Re: Remington circling the drain [Re: wemay] #4414252
05/25/17 03:50 PM
05/25/17 03:50 PM
Joined: Jun 2014
Posts: 770
Northern Arizona
funflyer Offline
funflyer  Offline
Joined: Jun 2014
Posts: 770
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.


2016 Prius 1.8L
2001 Tacoma 2.4L
1966 GTO 6.5L
2015 Cub Cadet
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Re: Remington circling the drain [Re: ammolab] #4414267
05/25/17 04:08 PM
05/25/17 04:08 PM
Joined: Dec 2002
Posts: 42,299
New Jersey
JHZR2 Offline
JHZR2  Offline
Joined: Dec 2002
Posts: 42,299
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.

Re: Remington circling the drain [Re: L_Sludger] #4414268
05/25/17 04:08 PM
05/25/17 04:08 PM
Joined: Jan 2017
Posts: 632
Melbourne, Florida
RichardS Offline
RichardS  Offline
Joined: Jan 2017
Posts: 632
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.


2008 Dodge Caliber SE 2.0 117k
4qt Imeditsu 0w-20, 1/2qt Mobil SS 5w-20 Fram HM

2003 Buick Century 107k
4.5q Havoline 5w-30 HM Fram XG
Re: Remington circling the drain [Re: L_Sludger] #4414461
05/25/17 08:25 PM
05/25/17 08:25 PM
Joined: Aug 2012
Posts: 789
Lynchburg, VA, USA
SF0059 Offline
SF0059  Offline
Joined: Aug 2012
Posts: 789
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.


2014 Honda Odyssey EX-L/RES: 54K mi, M1 0w-40 & FU, VCMuzzler V2
2017 Mazda 6 Touring 6MT: 22k mi, M1 AFE 0w20, OEM Filter
Re: Remington circling the drain [Re: L_Sludger] #4414485
05/25/17 08:53 PM
05/25/17 08:53 PM
Joined: Aug 2013
Posts: 2,657
Central Maryland
HangFire Offline
HangFire  Offline
Joined: Aug 2013
Posts: 2,657
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.


Various musings: http://hangfire.net
Re: Remington circling the drain [Re: L_Sludger] #4414524
05/25/17 09:56 PM
05/25/17 09:56 PM
Joined: Oct 2009
Posts: 3,947
Ohio
L_Sludger Offline OP
L_Sludger  Offline OP
Joined: Oct 2009
Posts: 3,947
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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