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Remington is in deep financial trouble

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    Remington is in deep financial trouble

    S&P downgraded Remington's credit rating to CCC- (junkiest of junk bond status) Their bonds are so cheap some are yielding almost 30%. Apparently they thought the gun buying craze was going to last forever - sales are down dramatically and they have a huge backlog of inventory. If they can't figure out a way to restructure their debt they could easily go bankrupt. I wonder if they will start selling inventory cheap to get some cash flow. I would hate to see them go out of business


    #2
    Hate to hear this, I have been a die hard Remington fan all my life but now days the only thing good about them is the action to build off of. Too many better cheaper factory guns out there on the market.

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      #3
      I read somewhere the other day that all manufacturing employees where put on furlough until February.

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        #4
        The craze would have continued if Billary had been elected........

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          #5
          Isn’t Remington actually owned by cerebus or something like that?

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            #6
            They deserved to go out of business after the trigger fiasco.

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              #7
              Originally posted by TxAg View Post
              They deserved to go out of business after the trigger fiasco.
              The original fake news.

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                #8
                Remington isn’t all that. I do t buy any gun sold in Walmart and other big box stores. Too many other rifles out there that way out perform Remington. Tikka is one of them for sure. Damdest shooting gun out of the box I’ve ever seen. And less than Remington’s middle of the road rifle. Best action I’ve ever used as well.


                Sent from my iPhone using Tapatalk

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                  #9
                  Originally posted by TxAg View Post
                  They deserved to go out of business after the trigger fiasco.
                  I don't want any company to go out of business but they did not handle that well at all.
                  Originally posted by Walker View Post
                  The original fake news.
                  Fill us in please? There are members on TBH that experienced the problem first hand. Did I miss something?

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                    #10
                    Tag

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                      #11
                      Originally posted by jerp View Post
                      S&P downgraded Remington's credit rating to CCC- (junkiest of junk bond status) Their bonds are so cheap some are yielding almost 30%. Apparently they thought the gun buying craze was going to last forever - sales are down dramatically and they have a huge backlog of inventory. If they can't figure out a way to restructure their debt they could easily go bankrupt. I wonder if they will start selling inventory cheap to get some cash flow. I would hate to see them go out of business

                      http://www.postbulletin.com/business...03809c388.html
                      The QC and quality standards have been gone since they sold out.. I personally know gun smiths who have dug metal shavings out of Remington bolt guns and the actions of automatic shotguns since they buy out took place.. They say the machine work on the barrels is mediocre at best with some being absolute junk.. They also say it that it is sad to see what the quality is today compared to the good old Remington days..

                      IMO this is a huge contributing factor to their decline in the industry..

                      As a huge fan of the older Remingtons I can honestly say I never thought I would see a day when they were the red headed step child in the industry..
                      I wont even consider buying one of their NEW products these days.
                      Last edited by PondPopper; 11-24-2017, 04:10 PM.

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                        #12
                        Originally posted by krisw View Post
                        Isn’t Remington actually owned by cerebus or something like that?
                        Correct. Sounds like somewhere along the way they may have started cutting corners quality-wise to save money. What a shame...

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                          #13
                          At one point they made a great O/U the Remington 3200 what a great gun

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                            #14
                            Originally posted by Walker View Post
                            The original fake news.
                            Explain please.


                            I assure you my .270 Remington 700 malfunctioned. Bowtech10, Lakefork, and his son, Tyler (sorry, Tyler, I can't remember your TBH name) can confirm this! I have since replaced the trigger with a Timney.

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                              #15
                              Jerp...doesn't this group also own Bushmaster, AAC & others?? Any of those affected or just a big green issue??

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