Remington declares Bankruptcy!

4 Comments

Remington declares Bankruptcy!

Welcome back to the 48th installment of my blog, in which I don’t claim to be an expert, in fact, the opposite. I’m a new user to the AR platform and want to share my findings and experiences as I go through and build rifles as well as being the Operations Manager at Tyrant Designs.


For over 200 years the name Remington has been one of the most recognizable names in firearms. So much so that my adopted pitbull mix is named Remi. They even supplied arms to soldiers during the civil war! However it appears like Remington has fallen on hard times as they have now filed for chapter 11 bankruptcy.

It’s no surprise that some firearm manufacturers are in hot water after the changing of the presidency to a pro-gun Republican. Many came to identify the era under Obama as the “Golden Era” for firearm sales. Many joking that Obama was the best thing that ever happened to the firearm industry.

Let’s be honest here, gun sales are largely politicized. Under a nonfriendly second amendment government the idea that there will be a scarcity of supply will affect demand. When there is no fear of anti-gun legislation the demand is much less. Manufactures who didn’t forecast correctly most likely will have to sit on a large supply of inventory with significantly lower demands.

Many companies that carried too much stock didn’t leverage the possibility of a pro 2A president are now in financial trouble. Under chapter 11 bankruptcy law Remington has $950 million dollars and will be able to offset over $700 million of it. They will also have to restructure the company.


The US has the highest gun ownership rates in the world. It is estimated that 7.7 million gun owners possess between 8 and 140 guns each. While around 3% of the US owns an average of 17 guns each. I usually don’t let the news or political climate dictate my decision on what firearms and ammunition I buy. I like to make sure to always be stocked and ready no matter what’s going on in our country. Better safe than sorry.

 

Who here owns a Remington and which one? 


4 Responses

Mike Villers
Mike Villers

March 06, 2018

Finally bought the Rem 870 Tact because of the reputation of all those variant modeled 879:s precedes itself and honestly I’ve been sick of constantly fixing, tweaking even minor parts and seemingly never going out shooting (talking bout shotguns for this purpose) without some issue with… Well I’m sorry but I think I will name the company as I spent over 2k paying the ffl fee (meaning not handling it before I bought them)…. So they are as follows… UTAS UTS 15, 12 gauge pump (15ed)polymer everything tactical this that blah blah blah rated in so many top 10 lists in the top 5 AS WELL AS BUYING at the same time and paying for the shipping ffl, etc. The UTAS XTR 12 (semi auto 12 gauge on a beefed up AR10 platform. Cutting to the chase…neither gun worked out the box…. At all! Xtr-12 bolt had broken teeth around it next to the extractor and then that went on the fourth and last shot. Both went back to the factory. DECENT customer service"(over the phone) but then I never saw my UTS 15 for 3"1/3"months! The XTR 13 took over 1 month and neither work STILL! FAILURE TO FEED, FAILURE TO EXTRACT, NO FIRES, STOVE PIPING… UGHHHH! BOTH brand new in box from the factory and produced both in September 2017. Long story short, I worked on them myself and even had to buy a BCG as it was CRACKED! (FOR THE XTR 12). Don’t care anymore. Learned my lesson. Sold both to friends that know exactly their condition as they have shot them and went through most of the BS with me. Too much to tell if I answered why I didn’t get my money back on both. So I bought me a Remington 870 tactical and pumped it out a little more and
(it is flawless!) I think to many manufacturers are trying to keep up with the Jones’s and aren’t geared in house with the know how or longevity. I fell Soo much better with the 7+1rd Reminton 870. I’ve got their Mark 2, 22lr as well (the older model) and love them both. NOTE TO YOUR CHP11 AT REMINGTON TO ALL INVOLVED. REORGANIZATION IS TEMPORARY. LOOK HOW LONG YA BEEN ROUND MAKIN’ FOLK HAPPY. I PLEDGE TO BUY ANOTHER INSIDE 2 MONTHS (maybe the bolt action precision in 308 or maybe I’ll get talked into 6.5 Creedmoor. In some small way I hope this helps. Love all the guns I’ve owned made by you guys. I’d STILL be happy if I were 200 years old lol. Remington is a household name, not some fly by night 100rd drum of 12 gauge with every 3 rd a 308 and grenade launching receptacles and the all to annoying fake Suppressor! There are more things important than polymer and a Cerakote job. Remimgton has never cut corners in any of the (guessing) 50-75 guns I’ve owned of theirs with my pops since 5 years old. With that I’ll add and close the book with "How many of these new companies and/or plastic ehmmm I mean polymer with these seemingly scratch prone and void of any nice bluing job will be told like my story? I mean grandpa passed down remi’s, recent passing of my father left my quite a few. I started shooting at 6 years old (5 if you count the daisy Red Ryder… STILL have both eyes lol. But was shooting my dad’s 1961 Colt Python 357 at age 6. Today along with that pistol, all that I’ve kept (all the remimgtons) shoot like day one! They seem to get better like fine wine with age. How many of this generation will tell a simular story? That they’ve had guns by the likes of Remington etc since 5 (and they’re 49 like me but are holding the kind of stuff made today seemingly carelessly and aimed at the egos of mag capacity, the word Tactical on the gun when it’s just molded to look mean and easy to do when you’re using polymer molding. How many will have all their 2018 new company guns in 2060 without functional absolescence or rot, rust, anything original left on them? I may be wrong, but I’ve had about 10 recent experiences with those type of guns and anb18yr old at customer service who’s excuse for keeping my gun not 1 1/2 weeks but months and months only to get aggrevated at me speaking with no tone to my words… That "Heyyyyyy, you should have known better to send them in when THE SHOTTTT SHOW WE WAS GOING ON! He didn’t take time with me but he didn’t have to lmao? That type of illogical syllogism is rather rampant now days. Well IT’S NOTTTT AT REMINGTON! Love their folks/family and have established a good 10 year contact there that always goes the extra mile.
PEOPLE, I HATE TEXTING!!! YET I DID A HELL OF A LONG ONE IN LIEU OF ASKING THAT YOU AT LEAST CONSIDER A REMINGTON ON YOUR NEXT PURCHASE. DON’T….NO…CANT AFFORD TO LOSE THOSE TYPE. THEY HAVE A GOOD DEAL OF INFLUENCIAL POWER AS WELL REGARDING GUN LEGISLATION AND PROTECTIMG OUR RIGHTS. IT WOULD IN MY OPINION BE A MUCH MORE SLIPPERY ROAD REGARDING ENCROACHMENT STYLE TAKE AWAYS OF OUR RIGHTS WHICH IS IN THE PLANS GUARANTEED. SORRY BUT THE CLICHE OR METAPHOR OF PUTTING A FROG IN BOILING WATER AND IT JUMPS RUGHT OUT. PUT THAT SAME FROG IN LUKE WARM WATER AND SLOWLY HEAT UNTIL IT BOILS AND THAT FROG STAYS IN TO MEET HIS DEATH. IT’S THE LITTLE THINGS THAT OVER A LONG TIME FRAME WILL MAKE ALL OF US GUN OWNERS FREAK WHEN IT’S TOO LATE! I SAY FOR THE NAMED REASONS AND THE AFOREMENTIONED METAPHOR FROG ILLUSTRATION WE SHOULD SUPPORT REMINGTON IN ANY WAY YOU CAN. THEY’VE BEEN HERE FOR US. DON’T TURN YOUR BACK AND BUY THAT BUDGET 375 BUCK AR15 that will getchya cursing soon enough. Use it on quality because the are right with us and powerful as lobbyists pro gun, pro life, pro production.
Sincerely,
MIKE V

Anthony wright
Anthony wright

February 16, 2018

I just bought a remington RP 45 I hope they still will honor any warranty issues its gun owners might have

Bill
Bill

February 16, 2018

Remington has had a design problem. They released a pistol that was defective and was recalled. Funny they now are in BK?

Joe
Joe

February 16, 2018

Remington loaded up on tactical weapons manufacturers (they bought both Bushmaster and DPMS) along with producing their own brand’s AR10s and AR15s. It’s not surprising that being so heavily invested in such weapons they are experiencing financial troubles. Even Ruger has seen its stock prices plummet. Hopefully the market will soon hit bottom and rebound successfully.

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