THE ACCURATERELOADING.COM AMERICAN BIG GAME HUNTING FORUMS


Moderators: Canuck
Go
New
Find
Notify
Tools
Reply
  
Remington Files for Bankruptcy
 Login/Join
 
Highlander7
One of Us
Picture of Highlander7
posted
Just had a few minutes before work today and saw/read Remington is having financial problems.

https://www.cnbc.com/2018/02/0...tection-sources.html

https://www.upi.com/Top_News/U...-drop/2631518483138/


MSG, USA (Ret.) Armor
NRA Life Memeber
 
Posts: 596 | Location: Chester County, PA. | Registered: 09 February 2011Reply With Quote
Poyntman
One of Us
posted Hide Post
I just saw this today as well.
I wonder if it also stems from the trigger problems on the .700 and legal issues resulting?
Or...reputational for the same reasons...
Or....they simply haven't kept up with the times due to poor management.
 
Posts: 931 | Location: Music City USA | Registered: 09 April 2013Reply With Quote
Charlie P.(NY)
One of Us
posted Hide Post
Being a NYer I hate to see this. 206 year old company.

But they kept shooting themselves in the foot - so to speak.

Their recent pistols are underwhelming and they get the rate of twist wrong for what demand will be with new cartridges.
 
Posts: 66 | Location: Port Crane, NY | Registered: 11 February 2018Reply With Quote
MARK H. YOUNG
one of us
posted Hide Post
If I heard correctly on FOX today it said some investors had pulled out because some Remingtons were used in a school shooting which sounds silly to me unless they just wanted to be out of the gun business.

Mark


MARK H. YOUNG
MARK'S EXCLUSIVE ADVENTURES
7094 Oakleigh Dr. Las Vegas, NV 89110
Office 702-848-1693
Cell, Whats App, Signal 307-250-1156 PREFERRED
E-mail markttc@msn.com
Website: myexclusiveadventures.com
Skype: markhyhunter
Check us out on https://www.facebook.com/pages...ures/627027353990716
 
Posts: 12926 | Location: LAS VEGAS, NV USA | Registered: 04 August 2002Reply With Quote
larryshores
One of Us
posted Hide Post
Gentlemen:

I have seen this more times than I can count.

When private equity acquires a company, they often load the balance sheet of that company with debt that of unimaginable amounts. It is impossible for the company acquired to service the debt, especially when things go less than perfectly. I have seen clients sold for $.10 on the dollar when exiting a private equity deal.

Things went less than perfectly in this case. There were products liability issues. Some investors wanted out after Sandy Hook. When Trump got elected, gun sales fell. It is the perfect storm.

Sad but this is not the only company every burned in a private equity deal.
 
Posts: 12022 | Location: Orlando, FL | Registered: 26 January 2006Reply With Quote
Poyntman
One of Us
posted Hide Post
quote:
Originally posted by larryshores:
Gentlemen:

I have seen this more times than I can count.

When private equity acquires a company, they often load the balance sheet of that company with debt that of unimaginable amounts. It is impossible for the company acquired to service the debt, especially when things go less than perfectly. I have seen clients sold for $.10 on the dollar when exiting a private equity deal.

Things went less than perfectly in this case. There were products liability issues. Some investors wanted out after Sandy Hook. When Trump got elected, gun sales fell. It is the perfect storm.

Sad but this is not the only company every burned in a private equity deal.


Your right Larry,
You forgot one thing right..lol...they will then "sell" the tax loss carry forward like an asset once the damage is complete...I'm working with a Company in NY right now that will now run $300M through the tax loss carry forward and avoid taxes now on profitable business. It's a dance with the devil IMO
 
Posts: 931 | Location: Music City USA | Registered: 09 April 2013Reply With Quote
DonW28
One of Us
posted Hide Post
Probably doesn't help that the equity firm in question is named after the guardian of the underworld in Greek mythology (Cerberus).

Don


Trust only those who stand to lose as much as you do when things go wrong.
 
Posts: 324 | Registered: 28 June 2011Reply With Quote
larryshores
One of Us
posted Hide Post
quote:
Originally posted by Poyntman:
quote:
Originally posted by larryshores:
Gentlemen:

I have seen this more times than I can count.

When private equity acquires a company, they often load the balance sheet of that company with debt that of unimaginable amounts. It is impossible for the company acquired to service the debt, especially when things go less than perfectly. I have seen clients sold for $.10 on the dollar when exiting a private equity deal.

Things went less than perfectly in this case. There were products liability issues. Some investors wanted out after Sandy Hook. When Trump got elected, gun sales fell. It is the perfect storm.

Sad but this is not the only company every burned in a private equity deal.


Your right Larry,
You forgot one thing right..lol...they will then "sell" the tax loss carry forward like an asset once the damage is complete...I'm working with a Company in NY right now that will now run $300M through the tax loss carry forward and avoid taxes now on profitable business. It's a dance with the devil IMO


Better check out section 382 of the Internal Revenue Code.
 
Posts: 12022 | Location: Orlando, FL | Registered: 26 January 2006Reply With Quote
ted thorn
One of Us
Picture of ted thorn
posted Hide Post
Remington has ignored modern twist rates, customer demands and allowed 2 of the worst rifle designs to hit store shelves in the last 15 years.

They currently don't market a single firearm or ammo that I would buy.


________________________________________________
Maker of The Frankenstud Sling Keeper
Proudly made in the USA
Acepting all forms of payment
 
Posts: 7361 | Location: South East Missouri | Registered: 23 November 2005Reply With Quote
buckeyeshooter
one of us
Picture of buckeyeshooter
posted Hide Post
quote:
Originally posted by ted thorn:
Remington has ignored modern twist rates, customer demands and allowed 2 of the worst rifle designs to hit store shelves in the last 15 years.

They currently don't market a single firearm or ammo that I would buy.

Not to mention what they have done to the Marlin line.
 
Posts: 5708 | Location: Ohio | Registered: 02 April 2003Reply With Quote
AnotherAZWriter
one of us
posted Hide Post
quote:
Originally posted by larryshores:
Gentlemen:

I have seen this more times than I can count.

When private equity acquires a company, they often load the balance sheet of that company with debt that of unimaginable amounts. It is impossible for the company acquired to service the debt, especially when things go less than perfectly. I have seen clients sold for $.10 on the dollar when exiting a private equity deal.

Things went less than perfectly in this case. There were products liability issues. Some investors wanted out after Sandy Hook. When Trump got elected, gun sales fell. It is the perfect storm.

Sad but this is not the only company every burned in a private equity deal.


I saw that Remington debt is selling for 16 cents on the dollar.


Don't Ever Book a Hunt with Jeff Blair
http://forums.accuratereloadin...821061151#2821061151

 
Posts: 7575 | Location: Arizona and off grid in CO | Registered: 28 July 2004Reply With Quote
larrys
one of us
posted Hide Post
I hope better things happen to Sierra Bullets.


Larry

"Peace is that brief glorious moment in history, when everybody stands around reloading" -- Thomas Jefferson
 
Posts: 3942 | Location: Kansas USA | Registered: 04 February 2002Reply With Quote
chuck375
One of Us
Picture of chuck375
posted Hide Post
Let's hope Dakota gets spun off as it's own company again.


Regards,

Chuck



"There's a saying in prize fighting, everyone's got a plan until they get hit"

Michael Douglas "The Ghost And The Darkness"
 
Posts: 4737 | Location: Colorado Springs | Registered: 01 January 2008Reply With Quote
surefire7
One of Us
posted Hide Post
quote:
Originally posted by chuck375:
Let's hope Dakota gets spun off as it's own company again.


I don't understand high finance in big corporations. Above my paygrade.

Remington helped Dakota out when that company was having troubles. I hope Dakota can make it with, or without Remington. I have more rifles that I want Dakota to make for me... Frowner
 
Posts: 2602 | Location: Colorado | Registered: 26 May 2010Reply With Quote
  Powered by Social Strata  
 


Copyright December 1997-2023 Accuratereloading.com


Visit our on-line store for AR Memorabilia