Remington Arms Declares Bankruptcy
1–10 of 346 posts
Re: Remington Arms Declares Bankruptcy
#2Before anyone jumps to conclusions, it seems their trouble began well before COVID:
> Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.
Re: Remington Arms Declares Bankruptcy
#3Never owned a Remington myself, but they've not been held in high regard for a while. Some say it was linked to it's acquisition by Cerberus Capital. Ultimately, though, it seem alike the company was asking customers to pay premium prices for average guns. What justifies spending 800 - 1200 dollars on a Remington 700 as compared to $500 on a Ruger American?
Re: Remington Arms Declares Bankruptcy
#4No worries, another PE firm will come along to bail them out by issuing more debt and of course paying themselves a dividend. Rinse, repeat.
Re: Remington Arms Declares Bankruptcy
#5Never owned a Remington myself, but they've not been held in high regard for a while. Some say it was linked to it's acquisition by Cerberus Capital. Ultimately, though, it seem alike the company was asking customers to pay premium prices for average guns. What justifies spending 800 - 1200 dollars on a Remington 700 as compared to $500 on a Ruger American?
Sounds eerily similar to the Harley situation. I had the displeasure of renting a Harley something - street 500 or something along those lines - just to see what all the fuss was about. Seems much ado about nothing, why would I drop 8,000$ on a slab of iron, not even made in the USA anymore, when I could get twice the bike at half the weight for the same price from Suzuki?
Re: Remington Arms Declares Bankruptcy
#6Before anyone jumps to conclusions, it seems their trouble began well before COVID: > Firearms maker Remington Arms Co. filed for bankruptcy protection for the second time since 2018, weighed down by more debt than it can repay even as fearful Americans buy more guns than ever.
Same thing for Gibson Guitars, bought by KKR in 2013 and BK in 2018.
Gibson Guitars was founded in 1894, but a lot of the guitars they make today don't work, and are way overpriced also.
KKR renamed them to "Gibson Brands", so I guess some MBA with a PowerPoint thought related merchandise was more important than, you know, making guitars.
Re: Remington Arms Declares Bankruptcy
#7Surprising, since lockdowns and "protests" have greatly increased the rate of gun purchasing. In my state, all firearms were out of stock at the local shops for months.
Re: Remington Arms Declares Bankruptcy
#8I wonder about the process here. If they filed for bankruptcy in 2018, and have to file again today in the middle of the hottest gun market in years... doesn't that mean they screwed up the first restructuring?
(I guess I don't know how many of the people rushing to the store are actually buying the kind of expensive guns Remington sells, though. I'd believe a story where it's few to none.)
Re: Remington Arms Declares Bankruptcy
#9Never owned a Remington myself, but they've not been held in high regard for a while. Some say it was linked to it's acquisition by Cerberus Capital. Ultimately, though, it seem alike the company was asking customers to pay premium prices for average guns. What justifies spending 800 - 1200 dollars on a Remington 700 as compared to $500 on a Ruger American?
Spot on. They are mostly a brand. None I've seen hold a candle to my 300wm Tikka t3 lite stainless I picked up for $600.
Re: Remington Arms Declares Bankruptcy
#10Never owned a Remington myself, but they've not been held in high regard for a while. Some say it was linked to it's acquisition by Cerberus Capital. Ultimately, though, it seem alike the company was asking customers to pay premium prices for average guns. What justifies spending 800 - 1200 dollars on a Remington 700 as compared to $500 on a Ruger American?
Same, as far as firearms are concerned. But I do own several other Remington products and the quality is astonishing. One of which is a pocket knife and it's staggering how well made it is. And how outrageously sharp it is for that matter. 3 days before the pandemic started I nearly cut off my left index finger with it...