More Remington Bankruptcy Results

I think bankruptcy auction renders all current claims null and void. Sandy hook lawyers can go pound sand. The retiree's will get thrown to the Feds pension protection, although they may see significant reduction in benefits.

Bankrupt gun maker Remington Outdoor to be broken up and sold

The biggest buy revealed so far is Vista Outdoor Inc.'s purchase of Remington's Lonoke ammunition business, at $81.4 million. Sierra Bullets Inc. of Missouri won the bidding on another part of Remington's ammunition business, with a $30.5 million offer, court papers show.

Sturm Ruger & Co. will get part of Remington's weapons business, with a $30 million offer, while Roundhill Group LLC is paying $13 million for other elements of the firearms-manufacturing operation. JJE Capital Holdings LLC is buying H&R, Parker and several other firearms brands.

Sportsman's Warehouse Inc., is getting the Tapco brand, court papers reveal.

Nevada's Franklin Armory Inc. was declared the winning bidder for Remington's Bushmaster brand. A spokesperson for Franklin Armory wasn't immediately available Sunday to comment.

How does a company go bankrupt when gun and ammo sales are skyrocketing? I know nothing about this case but it seems crazy.

They've had issues for a while I think. Plus the whole being allowed to be sued after sandy hook. Which by the way is the biggest bunch of horse shit. Do car manufacturers get sued after vehicle accidents? No

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capnkirk52 said:

How does a company go bankrupt when gun and ammo sales are skyrocketing? I know nothing about this case but it seems crazy.

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They stayed in NY to long, pension obligations and were just poorly run for way to long. They also didn't shed enough debt and the Sandy Hook lawsuit was allowed to stay attached through the bankruptcy 2 years ago.

Wonder what will happen with the Ilion, NY factory? I should have gone on a tour one of the times I was through there on the canal system.

SID297 said:

Wonder what will happen with the Ilion, NY factory? I should have gone on a tour one of the times I was through there on the canal system.

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Brownstone, you would have to be nuts to invest in NY, even with the 10 year no tax promo for new business they were running.

Sounds very fishy.

You dont wait till record selling times to file bankruptcy. You file bankruptcy after being sued.

me32 said:

Sounds very fishy.

You dont wait till record selling times to file bankruptcy. You file bankruptcy after being sued.

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The bankruptcy judge wouldn't allow it for the lawsuit alone. Stockholders are being zeroed out and bond holders will get peanuts.

me32 said:

Sounds very fishy.

You dont wait till record selling times to file bankruptcy. You file bankruptcy after being sued.

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Why not, that is likely when things are worth the most,
Ruger/Sierra, etc likely would not be as interested if times were soft

Remington's death knell began many years ago, with their refusal to acknowledge the trigger BS on some of their rifles, mainly the Model 700, which become the world’s most popular bolt-action rifle, selling over 5 million.

Dozens of personal injury and wrongful death lawsuits claim that the gun’s trigger assembly is defective, allowing the rifle to fire without a trigger pull. Hundreds of injuries and at least two dozen deaths have been linked to Remington’s Walker trigger assembly, a firing mechanism first introduced to the public nearly 69 years ago.

Think on that for a moment. Remington insisted on producing a trouble-prone trigger assembly for 69 years..... they earned their bankruptcy, the stupid morons.

One shouldn't have needed to purchasing a Sako or Tikka in order to receive a good looking stock free of major blemishes like was a common case with Remington.

Vista Outdoor takes control of Remington Outdoor assets
Oct. 13, 2020 7:06 AM ET|About: Vista Outdoor Inc. (VSTO)|By: Clark Schultz, SA News Editor


Vista Outdoor (NYSE:VSTO) announces it closed on the acquisition of certain assets related to Remington Outdoor Company's ammunition and accessories businesses, and related intellectual property.

The company expects the $81.4M transaction to be accretive to earnings in FY22, not including transaction and transition costs, For calendar year 2019, aggregate net sales by the Remington ammunition and accessories brands were ~$200M.

Vista Outdoor acquired select assets related to Remington's ammunition and accessories businesses, including Remington's Lonoke, Arkansas manufacturing facility and the Remington brand and trademarks.

Vista Outdoor used a combination of ~$51M of cash on hand and ~$30M from its asset-based revolving credit facility to complete this transaction.

"The migration back to nature and into the outdoors is the future. The combination of beloved ammunition brands created by this transaction will benefit shooting sports enthusiasts, outdoor recreation retailers and Vista Outdoor for many years to come," says Vista CEO Chris Metz.

Source: Press Release

capnkirk52 said:

How does a company go bankrupt when gun and ammo sales are skyrocketing? I know nothing about this case but it seems crazy.

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Have you seen the “quality” of the garbage they have been producing?

I have two Remington Rifles and when it was time for another rifle recently I bought a Bergara. Remington is not the Remington we grew up with.


“I’m not leaving my parent’s basement!” - Nomoresocietalcontact

Deceptive said:

Have you seen the “quality” of the garbage they have been producing?

I have two Remington Rifles and when it was time for another rifle recently I bought a Bergara. Remington is not the Remington we grew up with.


“I’m not leaving my parent’s basement!” - Nomoresocietalcontact

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CERBERUS didn't do them any favors and most of what plagues Remington can be traced to when that buy out happened.

Deceptive said:

Have you seen the “quality” of the garbage they have been producing?

I have two Remington Rifles and when it was time for another rifle recently I bought a Bergara. Remington is not the Remington we grew up with.


“I’m not leaving my parent’s basement!” - Nomoresocietalcontact

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Thats for sure...i have 2 mid 60s 760 pumps, a mid 80s 1100 and a 2009 700
The 2009 700 is a shooter but the rifle itself isnt anythin near my older examples

SolarYellow said:

One shouldn't have needed to purchasing a Sako or Tikka in order to receive a good looking stock free of major blemishes like was a common case with Remington.

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Deceptive said:

Have you seen the “quality” of the garbage they have been producing?

I have two Remington Rifles and when it was time for another rifle recently I bought a Bergara. Remington is not the Remington we grew up with.

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Yep. Disappointing is what comes to mind.

SolarYellow said:

Yep. Disappointing is what comes to mind.

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My .243 was manufactured around 1965 and the Leupold Optics was early 1970s and they have never been serviced.

My 7mm-mag is from right around 2000 and both have been perfect.

The Bergara I purchased in a .270 with a Leupold VX3i and it is insane. Under .75” MOA with factory loads.


“I’m not leaving my parent’s basement!” - Nomoresocietalcontact