Remington Outdoor, bankrupt gunmaker,
to be sold in pieces to seven buyers
by
Noah Manskar
Original Article
Posted By: tisHimself,
9/29/2020 6:05:03 AM
Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show.
The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remington’s brand and trademarks along with parts of its ammo and accessories business including an Arkansas ammunition factory.
Other buyers include outdoor-gear retailer Sportsman’s Warehouse, which will acquire the Tapco brand of gun parts and accessories, and Nevada-based gunmaker Franklin Armory, which is snapping up Remington’s Bushmaster rifle brand, records show
Reply 1 - Posted by:
DaddyO 9/29/2020 6:21:33 AM (No. 556060)
Remington R51 flopped because of design flaws
Model 700 rifles recalled because of trigger issues, costing tens of millions of dollars.
Remington sold off their ammo business.
Remington introduces tracking point rifle/scope costing $3000-$6000
How To Run A Business Into The Ground
19 people like this.
Reply 2 - Posted by:
chumley 9/29/2020 6:34:48 AM (No. 556069)
I have several of their older rifles and they are all top notch tack drivers. Used an 870 riot gun when I was a cop and loved it. Just bought my own 870 (no stock, 14" barrel) last spring and it appears to be fine quality too. Its a shame they went under. Hope the new owners bring the name back to where it used to be.
19 people like this.
Reply 3 - Posted by:
WhamDBambam 9/29/2020 6:54:06 AM (No. 556080)
Sorry to hear this. I, also, have one of their 870 pumps for home defense and drive by their ammo plant just outside Little Rock regularly. Hope the come back.
10 people like this.
Reply 4 - Posted by:
Rumblehog 9/29/2020 7:21:25 AM (No. 556101)
Much like Sears and the Craftsman brand, which is still "trusted" even though the quality (Chinese) isn't what it used to be (USA). Remington lost the magic sauce when they cheapened quality to save money. Everyone knows this but still the Remington brand is respected and can make a comeback in the booming market. Isn't it amazing that the executives of companies, who are hired and paid lavish salaries for being "the wizards of smart" in business, so routinely run perfectly good companies into the dust? They never seem to lose a thing, being paid handsome "golden parachutes" and moving on to destroy another company someplace else. A pathetic cycle of business that leaves people, families, and communities broken while the true miscreant profits.
28 people like this.
Reply 5 - Posted by:
SkeezerMcGee 9/29/2020 7:49:26 AM (No. 556133)
Very disappointing. Never thought this would happen. Remington was everywhere as long as I can remember, starting in the early 50s. Loved reading their beautiful full page advertisements in Field and Stream and Outdoor Life. A business that snoozes, losses.
11 people like this.
Reply 6 - Posted by:
The Other Guy 9/29/2020 8:40:31 AM (No. 556199)
I have my late father's .22 cal Remington that dates to the 1940's. Still does exactly what it was designed to do over 70 years ago. It'll pass on to my son and it will likely last until he, some day, passes it on to the next generation.
12 people like this.
Reply 7 - Posted by:
ROLFNader 9/29/2020 8:52:41 AM (No. 556225)
A few days ago, a radio newscast said that Remington's financial woes began when they were forced to defend a lawsuit stemming from the use of their product in the Sandy Hook school shooting.
14 people like this.
Reply 8 - Posted by:
Laotzu 9/29/2020 9:28:38 AM (No. 556275)
The name Remington was synonymous with American shooting sports for 200 years. Their 700 was the definitive bolt rifle in America for 50 years. I'm guessing it takes a Democrat to lose money in guns and ammo after 2008. Almost a billion in debt when they last filed for bankruptcy protection. Well worth a business school paper.
8 people like this.
Reply 9 - Posted by:
Dodge Boy 9/29/2020 9:56:41 AM (No. 556309)
strange that a gun maker would go broke during record gun sales.
12 people like this.
Reply 10 - Posted by:
DVC 9/29/2020 10:27:59 AM (No. 556344)
Good to see these businesses split back apart. The amalgamation never made any sense to anyone who knows anything about the gun trade.
Stupid NYC big money folks "making a small fortune in the gun business". The key is to start with a large fortune. And they did, and they managed to convert it into a much smaller fortune. Stupid, stupid, stupid.
Meanwhile, Ruger and S&W are raking in money hand over fist because they are run by gun guys and stick to guns, not accessories and distractions.
6 people like this.
Reply 11 - Posted by:
DVC 9/29/2020 10:29:01 AM (No. 556346)
#1, the "trigger issues" were fake, bottom feeder lawyers going after the deep pockets more than any real problems.
6 people like this.
Reply 12 - Posted by:
Mizz Fixxit 9/29/2020 10:30:17 AM (No. 556350)
Poster 4, a similar malady is prevalent in public education. Incompetent, administrators are in constant circulation. They arrive in a district with a liberal social activist agenda, waste taxpayer funds like mad, stay a few years and leave destruction in their wake. Even if forced out in disgrace, these lightweights land new jobs.
8 people like this.
Reply 13 - Posted by:
DVC 9/29/2020 11:33:17 AM (No. 556433)
In many cases, when a company is sold, any legal liabilities remain with the original company, and are not passed on during the sale. This might be one more reason to sell the company, to dead end the worthless, and illegal (but a judge has allowed it) lawsuit about Sandy Hook. The rifle was not defective in any way, and there is a federal law which was specifically written to protect gun makers from this sort of politically motivated lawsuit. Yet, somehow, there was a judge who did some crooked dealings and got around that federal law protecting gun makers.
3 people like this.
Reply 14 - Posted by:
ussjimmycarter 9/29/2020 11:36:33 AM (No. 556437)
Use to have my dad's 1950's version of the Remington 1100 12 Gauge Auto. Had a ventilated rib and a 30 inch barrel with a full-chock. Wish I had it back. Beautiful gun that ran without any issues...ever!!! I traded for a .357 Magnum back in the late '70's. Damn!!! I'm an idiot!!!
2 people like this.
Reply 15 - Posted by:
DVC 9/29/2020 11:41:04 AM (No. 556441)
Vista Outdoors gets Remington ammo.....Vista is a big scope seller (Weaver, Bushnell, Simmons, Tasco, Redfield), reloading equipment and supplies (RCBS, Alliant powder, Federal ammunition, CCI primers, Speer bullets, Blazer, American Eagle, Estate, Fusion, Independence), gun cleaning (Outers, Hoppes, Gunslick), targets (Champion), holsters. And lots of other outdoors stuff, too, helmets.
They will now control a HUGE swath of all ammo manufacturing.
3 people like this.
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