Reuters is reporting Remington has emerged from Chapter 11.
That a new board will be appointed. I do not know any details.

Looks like Big Green gets to roll on for a few more years.

good news

That was QUICK!

Was there any doubt they would?
Not by me.

George

Do doubt by me. I do think it was quick. But I have been on the inside of one large company liquidation and it took two years. James River Coal here in KY.

I would say I hope Remington product improves. However, my taste and joe gun buyer do not reflect one another. So, I doubt Remington and I will be personal friends in the future.

I do want them to survive and build good widgets. Even if the widget is not my cup of tea.

Frankly, the quality of product they have been putting out is trash, especially in the marlin line. I for one, will not be buying any remington product be it guns, ammo, componets or accessories. They have lost my support totally.

"converted 795 Million in debt to EQUITY"

among other questionable means to "emerge"

I think remington put too much stock in creating new products that NO ONE wanted. Shitty 9mm and 380 that cost more than other competitors. Magazine fed 870? Seriously? All the while their bread and butter products saw a loss of quality. I'll be honest I am a Remington homer, but I am not sure what they're doing.

quote:

Originally posted by buckeyeshooter:
Frankly, the quality of product they have been putting out is trash, especially in the marlin line. I for one, will not be buying any remington product be it guns, ammo, componets or accessories. They have lost my support totally.

Best and most honest post on the thread so far!

Crap products and even worse customer service. I don't see a new board of directors having enough insight to keep this from happening again.

I for one will never buy another Remington product built in the last 20+ years and I do my best in talking to everyone I know from doing it either.

Times change as do markets. With the millions of satisfied 700 owners in the world and still buying new Remingtons something must still be ok with them. The knockoff 700s (783 and such) came about because of a market trend, look around every company produces a $300 mid caliber bolt. Why? Because there is a bigger market for them than $1500 rifles. Be it Savage, TC, Weatherby, etc. a guy with limited funds can walk into a big box such as Cabelas plop down $350 on the counter and walk out with a scoped/bore sighted/slinged/plastic stock new rifle to take on a deer hunt the following weekend. For that kind of $ one cannot expect the type of product most here on AR choose to own. You do not get BMW quality in a Chevy Cruze either.

I thought they did all right with their 1911 line -- and have heard Marlin quality has rebounded significantly from the very low point it fell to when Remington closed the New Haven plant. That said, their 700s and 870s have never been my cup of tea.

quote:

Originally posted by DuggaBoye:
"converted 795 Million in debt to EQUITY"

among other questionable means to "emerge"

I am no expert, but debt holder are the top of the capital structure, so why it so surprising about this? How else would a company emerge from BK?

It seems the 750 million in debt has been liquidated ie bought and Cypress is out of the gun industry. That in itself is a good thing. What will be interesting is if all the brands Cypress (freedom group) consolidated under Remington will continue to be part of Remington Outdoors or if the new regime will sell them off.

quote:

Originally posted by DuggaBoye:
"converted 795 Million in debt to EQUITY"

among other questionable means to "emerge"

Commonplace in a chapter 11.

quote:

Originally posted by AnotherAZWriter:

quote:

Originally posted by DuggaBoye:
"converted 795 Million in debt to EQUITY"

among other questionable means to "emerge"

I am no expert, but debt holder are the top of the capital structure, so why it so surprising about this? How else would a company emerge from BK?

This is certainly one way. At times, a chapter 11 is used to escape contracts and/or renegotiate them. Debt is often restructured as well.

quote:

Originally posted by larryshores:

quote:

Originally posted by AnotherAZWriter:

quote:

Originally posted by DuggaBoye:
"converted 795 Million in debt to EQUITY"

among other questionable means to "emerge"

I am no expert, but debt holder are the top of the capital structure, so why it so surprising about this? How else would a company emerge from BK?

This is certainly one way. At times, a chapter 11 is used to escape contracts and/or renegotiate them. Debt is often restructured as well.

Ah yes, reminds me of asbestos and fake tits, among other things...

I guess this means I can keep on getting their one and only worthwhile product off the ground for free from time to time.
yay!

quote:

Originally posted by 2th doc:
Times change as do markets. With the millions of satisfied 700 owners in the world and still buying new Remingtons something must still be ok with them. The knockoff 700s (783 and such) came about because of a market trend, look around every company produces a $300 mid caliber bolt. Why? Because there is a bigger market for them than $1500 rifles. Be it Savage, TC, Weatherby, etc. a guy with limited funds can walk into a big box such as Cabelas plop down $350 on the counter and walk out with a scoped/bore sighted/slinged/plastic stock new rifle to take on a deer hunt the following weekend. For that kind of $ one cannot expect the type of product most here on AR choose to own. You do not get BMW quality in a Chevy Cruze either.

If your argument is budget rifles (which isn't what I was referring to,) I would argue that remington is still at the bottom of the barrel compared to other brands at that same price point. As far as the 700 rifle, 870 shotguns etc., compare a recent manufactured gun to the same model built pre 1990's, there is no comparison.

Besides quality issues, maybe you aren't familiar with the 700's trigger issues and how remington covered it up despite the fact that it was responsible for killing multiple people.

Another example is the 597 recall and how Remington screwed their customers with a lesser value coupon instead of a full price replacement or refund.

There are superior products from companies who actually stand behind them, for me to ever buy a Remington again. There are millions of firearms owners who have become aware of this as well. In such a tough, saturated market as the firearm business is, I doubt Remington can ever fully recover.

My 40X's and Hepburn now have a back up? [