America’s oldest gun manufacturer, Remington Arms, has filed Chapter 11 for protection from creditors while its owner, Cerberus Capital Management, reorganizes the corporation’s debt. It appears that Cerberus will turn over ownership of the company to creditors in exchange for the dismissal of $245 million in debt. The corporation would still have between $100 to $500 million in debt that would match its assets. More
Reports are that Remington has more inventory than expected with the upset victory of Donald Trump over Hillary Clinton in 2016. The firm also faces possible lawsuits from families of the Sandy Hook and now Parkland shootings. More
They face lawsuits????
Lawsuits! It’s the only gun control that the left is able to make work for them.
The best part is there’s law passed that says they can’t do that…
How the hell can they be broke after 8 years of the most prolific gun salesman in American history moving the product?
No judge worth the title would have allowed the Sandy Hook families lawsuit to proceed.
Build junk and people won’t buy it.
I bet Victor Kiam regrets buying the company now.
I was really pissed off that they discontinued the H&R single shots after buying the company up. This came about just as my kids were needing first deer slug guns when I found out that the Ultra Slug wasn’t available.
Thankfully a buddy hooked me up with a 20 ga Ultra Slug Hunter with a Nikon scope on it that had never been shot and I got that problem solved without paying ~$700 for a gun that sold for a couple hundred new.
I have a lot of 788s and also a R15 and they shoot quite well. I am fairly fond of the 700 based actions like the Mod 7, but don’t currently own any.
The 870 is reliable enough and fits most people pretty well, but it is a pig that handles like a gas pipe compared to the Ithaca 37. It is a fan favorite though, just shows to go ya’ that there is no accounting for taste.
A couple weeks ago you could walk into Cabela’s and pick up a mod 700 Varmint for about $400 and that my friends is a killer deal on a Mod 700 Varmint rifle.
“… it is a pig that handles like a gas pipe …”
lmao … one of the best descriptions I ever heard! …. thanks JD
“…while its owner, Cerberus Capital Management…”
Cerberus EXIST to kills American companies. They ALMOST killed Chrysler, and have TRIED to kill other American brands as well.
“The Cerberus Touch, is the EXACT same as “The Obama Touch,” which is the exact OPPOSITE of “The Midas Touch.” Everything Cerberus touches, turns to CRAP. >:-(
you couldn’t get me to part with my 7400, if I had one.
I like to think of it as Obama’s SIDAM touch. Every good thing he touches turns to shit. MIDAS spelled backwards – see what I did there?
Glad I already received my ammo rebates.
Our favorite Remingtons are the 7600s that started life as 06’s but have been sent down to Oregon and come back chambered for the 9.3×62
http://www.35caliber.com/
We set them up with a Redding P model peep sight
https://picclick.com/Redding-P-Receiver-Peep-Sight-for-Remington-11-48-312014998106.html (They have been out of production for a half century and are hard to find, but worth every penny)
and a Weaver rail & low power scope like a Leupold 1-4
We get about inch groups at a hundred yards out of them, they are good for two bucks fifty plus and they gots them an excess of fuckemup real bad when they connect.
My 12 gauge is a Model 11.
I have the open and choke barrels. Granddad bought it and also a 97 Winchester in 16 gauge. The family bird hunting shooting irons for the last 100 years.
@ JD: Right on from a big M37 fan! I have one in each gauge. My first, a 12, was my father’s that he got just a month or so before 12/7/41.
M37 is John Browning designed. Clean and with just the parts it needs, the Winchester Model 12 was designed by Johnson and as such is a Rube Goldberg device of a pump shotgun if ever there was one.
I had a nice old 16 that got stolen, buy only have 20 & 12s now. I do have an Ultra Featherweight 12 that has aircraft aluminum receiver and a solid frame Deerslayer II though.
Cerberus is poison- kills everything it touches.
S&W went bankrupt in the 90’s
when the Brit owners cut a deal
with Clinton to get a record
of anyone who bought their firearms
and make it available to the feds.
They went out of business in less
than a year when no one would buy
from them. The name sold for 2 million
measly bucks and look at them go today.
I owned three 870’s – one Express that I bought in 1994 and another I bought 10 years ago for my son to use.
Another early 70’s gamemaster I inhereted. That was my slug gun.
I also owned a 760 pump rifle, chambered in 30-06.
I loved all of them and they were all 100% reliable. I have hunted just about every North American game bird and mammal (except the real exotic ones) with them and was quite successful.
Unfortunately, I lost them all in a freak boating incident…
@Boehnerdict Ryan
“I like to think of it as Obama’s SIDAM touch. Every good thing he touches turns to shit. MIDAS spelled backwards – see what I did there?”
Try again. 😉