Remington Filing for Bankruptcy AGAIN
 

https://www.wsj.com/articles/gun-mak...on-11593186468

Sad to see a once great company fall to the lows they have over the past 15-20 years or so. They have not been on my list of guns to buy for at least 15 years. Probably true for many others and explains why they keep going bankrupt. Whoever buys them is going to have a long road to rebuild trust in this Brand.

Sad as I really like some of There shotgun ammo.

Even with them gone, the 700 clones will be the most popular bolt actions.

How can a company with such success in sales go bankrupt. I read an article which said the holding company which owned them somehow offloaded a bunch of debt on them and let them sink, I forget the details and don't know if its accurate but there has got to be something funny about a hugely successful outfit in sales can't bring in enough money

Yup, it's about Venture holding companies and maximizing profits. The actual company that produces something of value is just a tool to be manipulated.

Grizz

Cerberus Capital if I remember correctly,is basically responsible for the mess.

You are correct. It is what leveraged buyouts are all about. Buy the company REALLY cheap out of bankruptcy protection, get it running again, borrow ever cent you can, usually many times what you bought it for, from the greedy high risk lenders placing funds for dumb investors. The lenders are motivated to take high risk positions, because they want to earn the huge up front fees that go directly into their bonus pools and charge high interest rates on top. Structure the payments so it works for the first year or two, then load in the Balloon payments and repay acceleration clauses. Let it drown under debt payments it can never carry. Only people that get hurt are the employees, who have often provided a bunch of the money to buy the company out of Bankruptcy, sometimes with their Pension funds as well as personal money, but are last to get paid out, and the high risk investors who lose their butts when the company defaults. The Lenders and the Private equity firm have none of their own money in the deal anyhow, and have earned large dollars doing the deal, as in many, many millions.

Aka
 

Ticks

This article explains it in detail.

https://www.nytimes.com/interactive/...untsville.html

This has been happening for 30 years all over the place but there’s concern that a big reckoning is on the horizon. By using these complicated debt swap schemes and asset backed securities you have large seemingly successful companies that are actually operating on a razor’s edge. When There’s a disruption in the pipeline somewhere things get ugly fast.

Hertz has found itself in a similar position lately but the underlying problems are interesting and probably not what you might assume.

https://www.npr.org/2020/06/24/88304...a-broken-hertz

Just a thought, but why should they be in business? There 1858 revolver was cutting edge. Their rolling blocks where wonderful. Their 1875 was up there with colts 73. My newest Remington is a model 700 from the early 60s. First hand load I put through it was sub minute of angle so I've stuck with that load ever since. The trigger on that gun you dont even have to touch. All you have to do is think bang in your head and the gun will go off.
Early 870s were great. What have they done lately? You could say the same thing about a lot of big names.

I believe it(the 700) was this rifle action that caused the demise of the far superior Mod 70 action in 1964.

Winchester couldn't compete with the cheaper to manufacture action of the Remington 700.

The reason so many clones of the 700 are around is cost, its simply a cheaper action to machine and produce, which in turn makes it more popular as its less expensive.

This of course doesn't mean its not a good action (I own a couple) Just an inferior one.

The clones exist because of the footprint and trigger well. That’s it.

Dang it! I thought those triangle barrels were going to be the next big thing! Along with firearms discharging upon releasing the safety. I just don’t get it.

I agree that there was a time when they made a great product, a long time ago.

All you have to do is think bang
 

Exactly. My hunting buddy’s dad has a 700 he bought new in the 1970s. Twice it has gone off with the safety on and no finger or anything else near the trigger. He was being safe and no one was hurt, but he has just got to stop thinking “bang in [his] head,” or it may go off. Do the lawsuits have nothing to do with their financial woes?

I was trying to express how good the trigger is on my old 700. I didn't buy the gun new so I dont know if its the factory trigger or if somebody worked on it. The rifle is a heavy barrel 22/250.
Best trigger I ever had. Its like a set trigger but you dont have to set it.

TWICE??!!:sign0068:
I would repair or look at getting the trigger fixed the FIRST time it happened, which I have done with many different rifles, not just Remingtons.:thinking-006:
Cat

No kidding. I can't think of anything more dangerous than a trigger that goes off with the safety on, whether you are touching the trigger or not. FIRST time that happened there would have been a whole new trigger on that gun.