GunBroker.com Message Forums
Review our Posting Guidelines
GunBroker.com Message Forums
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?   Trouble / Can't log in?

 All Forums
 GunBroker.com Message Forums
 General Discussion
 Update on Remington
 New Topic  Reply to Topic
 Printer Friendly
Author Previous Topic Topic Next Topic  

select-fire
Advanced Member

55313 Posts

Posted - 02/13/2018 :  4:05:34 PM  Show Profile  Reply with Quote
https://247wallst.com/consumer-products/2018/02/13/remington-arms-secures-deal-will-file-for-chapter-11/

jimdeere
Advanced Member

USA
15385 Posts

Posted - 02/13/2018 :  4:54:01 PM  Show Profile  Reply with Quote
Their suppliers will take a bath.

When youíre dead, you donít know youíre dead. All the pain is felt by others.
The same thing happens when youíre stupid.
Go to Top of Page

select-fire
Advanced Member

55313 Posts

Posted - 02/13/2018 :  5:51:56 PM  Show Profile  Reply with Quote
Remington is not going out of business they are going out for business.
Go to Top of Page

204targetman
Advanced Member

USA
3200 Posts

Posted - 02/13/2018 :  6:35:34 PM  Show Profile  Reply with Quote
curious if they will have a change of address...
Go to Top of Page

wpageabc
Advanced Member

USA
6161 Posts

Posted - 02/13/2018 :  6:46:11 PM  Show Profile  Reply with Quote
Retirees may be in for surprises.

https://www.youtube.com/watch?v=u99Q7pNAjvg
Go to Top of Page

SCOUT5
Advanced Member

11840 Posts

Posted - 02/13/2018 :  6:49:04 PM  Show Profile  Reply with Quote
quote:
Originally posted by 204targetman

curious if they will have a change of address...



Aren't they in NC now?
Go to Top of Page

TooBig
Advanced Member

USA
25210 Posts

Posted - 02/13/2018 :  9:10:41 PM  Show Profile  Reply with Quote
Liberals are blaming Trump because Obama was the best gun salesman ever

NO COUNTRY CAN SURVIVE OPEN BORDERS AND WELFARE XXXXXXXXX It's time for the Democraps use their brain and the Republicans to grow a Pair. Tell Congress it's time to Read the Bills First
Go to Top of Page

204targetman
Advanced Member

USA
3200 Posts

Posted - 02/13/2018 :  9:19:28 PM  Show Profile  Reply with Quote
quote:
Originally posted by SCOUT5

quote:
Originally posted by 204targetman

curious if they will have a change of address...



Aren't they in NC now?



they still have the ilion new York plant
Go to Top of Page

chiefr
Advanced Member

USA
8543 Posts

Posted - 02/13/2018 :  9:30:12 PM  Show Profile  Reply with Quote
The truth not mentioned is Remington's suck ass quality control.
The company also desperately needs new innovative products.

Going cheap has been a big part of their demise. Even their ammo is inferior.

Go to Top of Page

fideau
Advanced Member

USA
11831 Posts

Posted - 02/13/2018 :  11:15:43 PM  Show Profile  Reply with Quote
quote:
Originally posted by SCOUT5

quote:
Originally posted by 204targetman

curious if they will have a change of address...



Aren't they in NC now?


Corporate headquarters are in Madison, NC. I don't think anything is made there. I thought they would move mfg. to NC. Would be a good move.

Jim

"This ain't Dodge City. And you ain't Bill Hickok."
Go to Top of Page

NeoBlackdog
Advanced Member

USA
10174 Posts

Posted - 02/13/2018 :  11:29:09 PM  Show Profile  Reply with Quote
quote:
Originally posted by chiefr

The truth not mentioned is Remington's suck ass quality control.
The company also desperately needs new innovative products.

Going cheap has been a big part of their demise. Even their ammo is inferior.




I would respectfully disagree. What they need to do is get back to building quality firearms, not trendsetting. If you have solid products that are well built you will earn your share of the market. They should get back to basics until they get their house in order and then maybe start bringing out some new/innovative stuff.
Go to Top of Page

montanajoe
Moderator

Trinidad and Tobago
46480 Posts

Posted - 02/13/2018 :  11:30:48 PM  Show Profile  Reply with Quote
I gave up on Remington when they gave up on;
customers
service
quality

yep,that long ago,,,,,


GunBroker.com Moderator
The Largest Auction Gun Store Online including Pistols, Shotguns, and Rifles
Go to Top of Page

toad67
Advanced Member

USA
5846 Posts

Posted - 02/13/2018 :  11:43:51 PM  Show Profile  Reply with Quote
Remington has been my main gun since that's what I first got from my dad when I was 11 y/o. Have quite a few, but with all of their troubles it's no reason that I'm shifting over to Bergara's...
Go to Top of Page

Flying Clay Disk
Advanced Member

USA
31747 Posts

Posted - 02/14/2018 :  01:22:31 AM  Show Profile  Reply with Quote
Same game...different (fancy) name.

Bundle up all the toxic financials, write down the bad debt, F# everyone (except the BOD and stockholders of course) including pensioners.

Hey, we're all good!!

Win-win, right?


FCD

"Fortes et liber"

Go to Top of Page

remingtonoaks
Advanced Member

USA
15220 Posts

Posted - 02/14/2018 :  02:00:55 AM  Show Profile  Reply with Quote
quote:
Originally posted by Flying Clay Disk

Same game...different (fancy) name.

Bundle up all the toxic financials, write down the bad debt, F# everyone (except the BOD and stockholders of course) including pensioners.

Hey, we're all good!!

Win-win, right?





Actually that's where you're wrong, they're filing chapter 11. Chapter 11 Lets company reorganize and still pay off its debts over a seven-year period or other predetermined length of time, to give them a little more time to pay it off so that they don't have to file a Chapter 7 and go out of business. But nobody loses out.

The only thing is though is a lot of companies that start out filing chapter 11 eventually turn it over to a chapter 7
Go to Top of Page

medic07
Advanced Member

USA
4936 Posts

Posted - 02/14/2018 :  11:51:29 AM  Show Profile  Reply with Quote
quote:
Actually that's where you're wrong, they're filing chapter 11. Chapter 11 Lets company reorganize and still pay off its debts over a seven-year period or other predetermined length of time, to give them a little more time to pay it off so that they don't have to file a Chapter 7 and go out of business. But nobody loses out


I am having a hard time seeing how suppliers/vendors/retirees/etc are not going to lose out.
Remington has $950M in debt
They are going to be forgiven $700M of that debt (almost 74% of the debt wiped clean)
The term loan creditors are going to be given 82.5% of the equity in Remington (no article states what their equity is but I doubt it is very high) and roughly $2.7M in cash upon emergence from bankruptcy (if that occurs).

I would be surprised if the loan creditor actually floated them a loan in the amount of $700M or more in order to pay all debts in full. Nothing in the article states how much on the dollar is going to the people/companies that Remington owes

I mean to kill you in one minute, Ned. Or see you hanged in Fort Smith at Judge Parker's convenience. Which'll it be?
Go to Top of Page

spasmcreek
Advanced Member

33074 Posts

Posted - 02/14/2018 :  3:52:47 PM  Show Profile  Reply with Quote
if i knew i could have cut 74% of my debt, i'd bought a LOT more ground
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
 Printer Friendly
Jump To:
GunBroker.com Message Forums © 1999-2017 GB Investments, Inc. All Rights Reserved Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06


Visit GunBroker.com at: www.gunbroker.com
Use of this Web site constitutes acceptance of the site's User Agreement
Site Map