February 13th, 2018

Remington Pursues Bankruptcy to Reduce Massive Debt

Remington Outdoor Company files Chapter 11 Bankruptcy Cerberus Equity J.P. Morgan

Remington Outdoor Company Inc. (Remington) will file for Bankruptcy in the Delaware Federal Court. The North Carolina-based company is pursuing Chapter 11 Bankruptcy to reduce its $950,000,000 in debt. According to Reuters, Remington hopes to work out an agreement with its creditors to write off about $700 million in debt obligations. That would permit Remington to sustain manufacturing operations and retain most of its work-force. In announcing the Bankruptcy filing, Remington executives stated that the company will continue to operate as usual during the bankruptcy proceedings.

(Reuters) – Remington Outdoor Company Inc., one of the largest U.S. makers of firearms, said on Monday it had reached a deal with its creditors to file for Chapter 11 bankruptcy to slash its $950 million debtload. Remington said it will receive $145 million in bankruptcy financing to fund the company through the Chapter 11 process.

Cerberus Will Yield Control of Remington to Creditors
If the pending deal with creditors goes through as planned, Cerberus, the private equity group that currently controls Remington, will lose ownership of the company. Through the bankruptcy, according to Reuters: “the company’s creditors, which include Franklin Templeton Investments and J.P. Morgan Asset Management, will exchange their debt holdings for equity in the company.”

Two months ago, AccurateShooter.com noted that Remington was considering Bankruptcy. Our report noted that an earnings decline left Remington few options. In early December, Fox News reported: ““The rifle and shotgun manufacturer’s third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year. Over the first nine months of 2017, the company has produced a $60.5 million net loss, compared to a $19.1 million gain in the prior-year period. And with its credit rating in the trash bin, the future is bleak for ‘America’s oldest gunmaker’. Today, debt on the company’s books has ballooned to almost $1 billion[.]”

Remington Has a Storied History
Founded in 1816 by Eliphalet Remington in New York, Remington is the oldest continuously-operating gun manufacturer in the United States. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

Permalink Hunting/Varminting, News 13 Comments »
February 13th, 2018

Through the Looking Glass — 6.5 Guys Review New Optics

New Optics scopes Nikon Revic LRF rangefinder

In the highly competitive optics market, technology is always advancing. This year, we’ve seen some significant innovations in high-end scopes, plus improved features in more affordable, sub-$1000 optics. The new American-made Revic PMR 428 scope features a built-in ballistic calculator employing a micro-processor and multiple on-board sensors. This really represents a major step forward in “smart” optics. Fans of high-technology should check it out. Or, if value is paramount, for less than one-third of the price of the Revic, you can get a new Nikon FX1000 series scope. The 6-24x50mm model offers very impressive features for under $800 — a bargain these days.

Revic Optics Scope Has Built-In Computer and Ballistics Solver

New Optics scopes Nikon Revic LRF rangefinder

New Optics scopes Nikon Revic LRF rangefinder

Ever wish your riflescope could calculate windage and elevation and display the shooting solution directly in the scope image? Well check this out — the new Revic PMR 428 scope is one of the most advanced optics ever offered to the public. The Revic has a micro-processor inside, plus sensors for temperature, air pressure, incline and cant (around bore axis). After the shooter inputs wind speed and direction, this allows the scope itself to indicate the correct windage and elevation corrections, plus adjust for shot angle. This really is a Big Deal, and we expect other top-end optics makers to follow suit in the years ahead. Right now Revic offers one 4-28x56mm PMR 428 Smart Scope for $2750.00. In this video, Steve Lawrence of 65Guys.com reviews the capabilities of the ground-breaking Revic PMR 428.

Impressive New Products from Nikon at Great Prices

New Optics scopes Nikon Revic LRF rangefinder

Jeremy Bentham, a Precision Rifle Series competitor, joined Nikon a year ago as a marketing manager. With his help, Nikon is making inroads into the Precision Rifle market with impressive products at very competitive prices. Here Steve chats with Jeremy about the latest offerings from Nikon, which recently celebrated its 100-year Anniversary. Jeremy presents Nikon’s new products for the tactical/practical market: 1) Stabilized Laser Rangefinder; 2) All-New FX1000 Tactical Scopes in 4-16X and 6-24X, with both MIL and MOA versions and optional illumination. The rangefinder is impressive — it eliminates 80% of perceived shake and also offers built-in angle compensation plus extended ranging capability. The new scopes are priced attractively — under $800. Bentham designed the new reticles which are clear and easy-to-use. These optics feature “high-speed” turrets (10 Mil or 25 MOA) with nice, tactile clicks. The 4-16x50mm model is $649.95 while the 6-24x50mm is $799.95 MSRP. These represent outstanding value for a big name, life-time warranty product.

U.S. Optics Offers B17 and B25 Scopes for Tactical Applications

The 6.5 Guys also checked out the new products from U.S. Optics. For 2018, U.S. Optics is featuring two impressive tactical scopes, the B17 and B25. Ed Mobley of 65Guys.com talks with Jake Vibbert of U.S. Optics. Jake explains that his company offers a wide variety of options, with both MOA- and Mil-based reticles. The B17 and B25 both feature a 34mm main tube, which helps deliver greater elevation adjustment. These B-series scopes offer a fast-focus eyepiece, and a true “tool-less” zero-set option. That’s a nice feature — you don’t have to find an Allen wrench in the middle of a competition.

Permalink - Videos, Gear Review, Optics 3 Comments »
February 13th, 2018

National Records Now Recognized for CMP’s Travel Games Events

CMP Civilian Marksmanship Program Travel Match Record

The Civilian Marksmanship Program (CMP) will now be recognizing National Records attained at CMP Travel Games events. Now, outstanding scores will be recorded in the record book for all CMP Travel Games matches. The current listed National Record scores were established after compiling top scores from the following Games events and years:

CMP Civilian Marksmanship Program Travel Match RecordOklahoma: 2012-2017
Eastern Games: 2007-2017
Talladega D-Day: 2015-2017
New England: 2016-2017
Western Games: 2005-2017
Talladega 600: 2015-2017

To view the new Travel Games National Records standards, click this link:

CMP Games Competition Rules

Special Travel Games National Record Certificates will be sent to the competitors that currently hold the Overall Travel Games National Records, with additional certificates awarded to those who break records in the future.

National Record scores for each individual match are listed under the match’s results in CMP’s Competitor Tracker – used to display result scores for Travel Games events. A full list of Overall National Records can be found by visiting the CMP Travel Games Homepage.

Permalink Competition, News No Comments »