Comments on: Remington Pursues Bankruptcy to Reduce Massive Debt

By: Rick

Rick — Thu, 15 Feb 2018 23:00:48 +0000

The company has been very short sighted for far too many years. Falling out of touch with customers. Indifferent quality and customer service. Failure to update production machinery. If it could be done poorly, they did. Labor and a not friendly state didn’t help, but they were not the major problem.

Toss in some debt from the acquisition and you have a recipe for a reorganization. I hope that there will be new management who can deal with modern manufacturing processes, new production equipment and a focus on producing quality products people actually want at prices that will sell.

By: David Joe

David Joe — Thu, 15 Feb 2018 16:17:55 +0000

Manchurian Candidate. There is no certainty that those who can afford to buy stakes in this industry actually appreciate it.

By: mark

mark — Thu, 15 Feb 2018 07:45:27 +0000

company must be run by the people of proffesion of it’s product, in this case by egineers, not by economists…

By: D. Ranged

D. Ranged — Thu, 15 Feb 2018 03:30:13 +0000

Remington’s problem was poor management, buying a huge facility in Huntsville AL. Thinking you can have pump action and bolt action people make lever actions and move Marlin from CT. Move Bushmaster to NY just to move it again to Huntsville. Move DPMS from MN to Huntsville. Move Para from NC to Huntsville. Take people who have never built guns and have them make all the Huntsville firearms. That does not even mention the companies they purchased just to move equipment (no operators) to Huntsville. I could go on but you get the picture. The management decided to race everyone to the low rung on the quality and price ladder which does not give you enough capital for those kinds of major moves to be profitable. I really hope they make 205 years.

By: Rich Kayser

Rich Kayser — Wed, 14 Feb 2018 20:21:57 +0000

look for the “Golden Parachute” numbers. That will be the answer to “how did we get nearly a billion dollars in debt in ten years?”.

CERBERUS only paid $215 for them about ten years or so ago.

The saddest part is that they cannot blame the Union for this mess.

The best part, the companies they owe big $$$ to are going to get the company away from CERBERUS.

By: GeneD

GeneD — Wed, 14 Feb 2018 18:56:41 +0000

There is a very old saying in the Golf industry . “Never let the accounting dept. run the golf course”. Think that more than applies here , too . Remington probably got into this mess by letting a bunch of bean-counters make decisions based on some “Accounting Business Model” , developed by some clown in the “Ivory Tower” , who had never run a business in their life . Hmmmm . Sounds like the way our Govt. has been run for a long time , and the result appears to be the same . Makes ya wonder who got the kick-backs here , doesn’t it ?

By: Aaron W.

Aaron W. — Wed, 14 Feb 2018 16:00:47 +0000

I just can’t grasp how in the hell a company’s management would be ok with reaching that amount of debt. Not like they woke up one morning and said “Damn, would you look at that. We’ve accrued damn near a billion dollars worth of debt. Wonder what we should do?” Kind of reminds me of a politician.

By: PhrogDriver

PhrogDriver — Wed, 14 Feb 2018 12:49:21 +0000

At least some of this has to do with their failure to innovate, although I’m sure poor management/Cerberus didn’t help the situation. Look at what Ruger (privately owned) managed to do with the RPR. Look at what Q has done with the fix. Look at what other companies have come up with to advance their military product lines. The bulk of what Remington has done over many years is crank out slightly different variations of the 700 and 870 while other companies have innovated and advanced the state of modern firearms. The fact that they’re a large company which could have spent a good chunk of money on R&D and chose not to, a decision made potentially due to poor management, is why they’re in this situation. Adapt or perish, and it seems as if they failed to adapt.

By: ron

ron — Wed, 14 Feb 2018 10:44:14 +0000

This is the exact same scenario with the exact same players that bankrupted the company that I worked for. What these vulture capitalists are doing should be illegal. Remington will never be the same.

By: mark

mark — Wed, 14 Feb 2018 09:07:12 +0000

no company is protected from bad management…