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There's no discharge in the war!

File: 7a1ef387c0e9f97⋯.jpg (54.96 KB, 670x446, 335:223, remington-logo-670x446.jpg)

aae538 No.549981

Remington seeks financing to file for bankruptcy

Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday.

FEBRUARY 9, 2018 - Reuters

> The move comes as Remington reached a forbearance agreement with its creditors this week following a missed coupon payment on its debt, the sources said. The company has been working with investment bank Lazard Ltd (LAZ.N) on options to restructure its $950 million debt pile, Reuters reported last month.

> Some potential financing sources, including credit funds and banks, have balked at coming to Remington’s aid because of the reputation risk associated with such a move, according to the sources. Remington, which is controlled by buyout firm Cerberus Capital Management LP, was abandoned by some of Cerberus’ private equity fund investors after one of its Bushmaster rifles was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults.

> The Madison, North Carolina-based gun manufacturer faces a maturity of an approximately $550 million term loan in 2019. Remington also has $250 million of bonds that come due in 2020 and are trading at a significant discount to their face value at around 16 cents on the dollar, according to Thomson Reuters data, indicating investor concerns about repayment.

> Remington’s sales plunged 27 percent in the first nine months of 2017, resulting in a $28 million operating loss.

> sources asked not to be identified because the deliberations are confidential. Remington did not respond to several requests for comment. Cerberus declined to comment.

Source: https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy-exclusive/exclusive-u-s-gunmaker-remington-seeks-financing-to-file-for-bankruptcy-sources-idUSKBN1FT04C?feedType=RSS&feedName=businessNews

http://archive.today/sWsmq

Is this it? If Remington goes under will it be another step towards destroying the supply of firearms? Or will this be an opportunity for creative destruction where some of Remington's designs and brands can be snapped up by people who have some clue what to do with them? Will Remington green box ammo go away?

d14293 No.549984

>brand known for dogshit guns and horrible ammo is going under

Finally. Hopefully Marlin gets bought by somebody who knows what they are doing. This shit brand deserves nothing but death.


ab2833 No.549985

File: 80dfb5cf48c3606⋯.jpg (37.84 KB, 824x960, 103:120, 80dfb5cf48c360676dad63114b….jpg)

>Remington’s sales have declined in part because of receding fears that guns will become more heavily regulated by the U.S. government, according to credit ratings agencies. President Donald Trump has said he will “never, ever infringe on the right of the people to keep and bear arms.”

Funny that this effect seems to happen to Remington and Remington alone. Almost like there's something else at work here that makes people not want to buy Remington products. Nah, probably Drumpf's fault.


08e11c No.549987

File: 75432b74d1dce71⋯.jpg (8.39 KB, 225x225, 1:1, soul.jpg)

>tfw dad used to tell me stories about all the Remington guns he used to own

>tfw they're a shell of their former self.


7d6a95 No.549988

>Remington’s sales have declined in part because of receding fears that guns will become more heavily regulated by the U.S. government

So the opposite of nearly every other gun company during the last decade? That had their guns panic bought by people, to the point that prices became ridiculous.

It couldn't be that Remington had absolute shit QC, or that Cerberus/Freedom group were extremely anti-2a.


d127d9 No.549994

>>549984

Marlin's dead, as is Para. No matter who might get the brand, you can't remake the old machines and rehire all the old people, let alone reassemble the same institutional knowledge.


325593 No.549997

>>549981

Whodathunkit


50aa7f No.550015

>>549981

What? Sales during Obama's reign was ridiculous how could these guys go bankrupt?


d430ad No.550018

Typical tricks, Shlomo


d430ad No.550022

Typical tricks, Shlomo


d430ad No.550023

well fuck me for not enabling js


422785 No.550031

http://www.thetruthaboutguns.com/2018/02/robert-farago/remington-preparing-bankruptcy/

>Some potential financing sources, including credit funds and banks, have balked at coming to Remington’s aid because of the reputation risk associated with such a move, according to the sources.

>A problem that first reared its ugly head when Cerberus private equity tried to off-load [what was called at the time] The Freedom Group, after the Newtown spree killer used a Bushmaster (a brand owned by TFG) AR-15 to commit his heinous crime. An event that inspired the California teachers’ union to demand that Cerberus divest of TFG.

So we all know Remington is run like dogshit, but the political angle of choking off capital flow to gun manufacturers is worth discussing.


60aea2 No.550044

Do Jews buy up companies such as Remington and Sig to run them into the ground to shut them down while making money?


5adea0 No.550046

>>550044

>Do Jews buy up companies such as Remington and Sig to run them into the ground to shut them down while making money?

Pretty much yes, 50/50 whether they're doing it out of ideological reasons or just because they can only conceive of short-term financial gain, or both.


7903ad No.550051

>>550044

>>550046

This is why publicly-traded stock is mistake. Keep shit privatized.


490dec No.550077

>>550051

They will find a way (((Sexual harrassment))) to get you incarcerated and replace you with someone who will publicly trade it.


7903ad No.550084

File: fbf56926466dd00⋯.jpg (Spoiler Image, 37.2 KB, 970x766, 485:383, ancap_ball_intensifies.jpg)

>>550051

>>550077

You underestimate my autism, good sir.


4ce958 No.550095

>>550084

>become disorderly so that I may establish order goyim

Get fucking lost, kike.


ef9d07 No.550099

>Friend at uni tells me he bought a shotgun for HD

>Shows me some shitty Remington 870 on the Dick's Sporting goods website

>He fucking ordered a new Remington from dicks

>Have to restrain myself from berating him


ab2833 No.550100

>>550095

>trying to derail yet another thread because you get angry at the politics of others

You're the one who needs to get lost.


dc38ea No.550106

Good riddance to trash.

What's is a fucking shame that they only company that produces a pump action 7mm-08 is remington


7903ad No.550108

>>550099

>>Have to restrain myself from berating him

Why anon? As long as you can keep yourself from beating him senseless like a nigger, you shouldn't hold back your criticism. Stupid decisions should earn shame and derision.


ad8147 No.550110

>>549987

>saving thumbnails

>>550023

>muh scary javascript

>>550100

>belonging in teh oven


1a3c6e No.550112

>>549981

>making your staple guns shit

>making unreliable handguns

>finally fixed the 700 from firing when you turned on the safety 6 decades too late

>pricing your handguns at nearly 1k while some chinkshit making 1911s in some 3rd world monkey factory puts out better guns at 1/3 the price

there is no reason to buy a remington handgun. there is no reason to buy a remington shotgun. there is no reason to buy a remington rifle. that's their entire catalogue. the handguns, what the fuck. did anyone really ask for another polymer 9mm double stack striker fired? don't they know their market is fudds?


cd348f No.550116

>>549987

Remington is a pretty good allegory for the US in general


b51eca No.550117

In the Grim darkness of the far future, there is only H&K.


610d94 No.550127

>>550031

Yes, but what are you going to do about it?

>Convince companies to be financially conservative and do without outside capital.

>Create financing sources divorced of ((controlling interests)).

>Proliferate machine tools and metalworking skills creating a cottage industry of firearms manufacture.


17e271 No.550128

>>549988

>So the opposite of nearly every other gun company during the last decade? That had their guns panic bought by people, to the point that prices became ridiculous.

The article's saying that people aren't panic buying any more because, under Trump, it's looking less likely that the government's going to take the guns away


88e1bf No.550152

>>550106

I thought you cuckolds couldn't own pump actions or something?


1f393f No.550161

It takes a special kind of retard to bankrupt a gun company in America.


bcf421 No.550163

>>550117

necrons are really just krauts


fb069c No.550171

>>550112

>>549981

Can confirm that Remington is shit. I own a 700 Long Range 300 win mag and I get like 4 moa at 100 yards. Hideous "accuracy." I'll never buy Remington again.

>>550117

fuck that, I already build my own AR's, I'll build everything before that shit happens.


325593 No.550174

>>550171

>I'll never buy Remington again

It's not like you'll be able to


5adea0 No.550189

So I was thinking about this last night, I think the best thing for all involved would be if Remington can't get financial backing and instead goes into full default. If that happens I can see Remington Outdoors being broken up completely. Marlin and Para are lost of course, though perhaps there're enough of the machines and tooling left to salvage something under a different name. On the other hand companies like DPMS. Barnes, and H&R might be able to re-emerge as independent entities. The question is would Remington be able to reform under that name, and with baggage removed allowing it to return to it's roots and focus on quality control and manufacturing the products it's traditionally good at (Quality 870's, working 700's, the 55x series of rimfire rifles, even Core-Lokt ammo), or would everything be lost in the shuffle?

On the one hand I dislike the possibility of a historical brand and legacy being lost to the wind, but on the other hand we see with Colt what happens when a company just keeps getting bailed out and never has to face their own central issues.


58d25e No.550228

I get the political metagame behind ruining the internal profitability one of America's largest gun manufacturers so that they become vulnerable to the anti-gun political climate in the investment capital realm. I just can't stand to see it happen as it means the promise of massive financial success is no longer enough to outweigh the desire to maintain one's compliance with leftist ideology.

Remington was the most storied Fudd brand of them all with numerous designs (870, 700) that have inherent, sustainable competitive advantages in the market. All one had to do with early-00's Remington was bring management into the 21st century (or even the latter half of the 20th tbh) and keep cranking out the same wuality products they had been making before. There was, and still is, literally nothing. The problem is literally one of moronic lack of investment and malinvestment that ruined the reputation of products that were once considered necessities for both Fudds and educated outdoorsman. Unfortunately, that kind of promising investment isn't enough to overcome the ideological rot of even our best businessmen and now Remington is fucked.


4ce958 No.550431

>>550152

Anon, owning just a shotgun for "hunting", especially an archaic, less "assault-type" one is an entirely different venue of cuckoldry. I wouldn't be surprised if there are any shotguns-only type clay hunters over there like there are here.


4dfb94 No.550433

File: dc4ab1bb0aa295d⋯.png (119.71 KB, 425x282, 425:282, child of hispanic descent ….png)

>>550174

That's a savage joke


665385 No.550438

>>549981

Hold up you niggers, its Freedom Group that is going bankrupt, i.e the cancer that killed absorbed Remington, Marlin etc. Freedom Group renamed itself Remington outdoor company awhile back.

>>550433

Stay away from my family you spicnip


aae538 No.550531

File: 632919478fa1feb⋯.png (81.35 KB, 959x160, 959:160, ClipboardImage.png)

It's official. Looks like they basically got money off of promises to "reorganize" under a "pre-packaged joint plan".

> Remington said it will receive $145 million in bankruptcy financing to fund the company through the Chapter 11 process. Remington plans to file bankruptcy in U.S. Bankruptcy Court in Delaware, seeking to write off about $700 million in debt.

We'll probably have to wait until the Chapter 11 filings become public to learn what the "reorganization" means, especially vis a vis pic related.

Interesting tidbits, maybe especially for >>550031 and >>550189 :

> Cerberus Capital Management LP, the private equity firm that controls Remington, will lose ownership of the company as a result of the bankruptcy. The company’s creditors, which include Franklin Templeton Investments and JPMorgan Asset Management, will exchange their debt holdings for equity in the company.

> The families of the victims at Sandy Hook also sued Remington. That case is ongoing.

Reuters:

https://www.reuters.com/article/us-remingtonoutdoor-bankruptcy/us-gunmaker-remington-reaches-deal-with-creditors-to-file-for-bankruptcy-idUSKBN1FW23Q

archive:

http://archive.today/mfvkR

The Truth About Guns has what appears to be the full press release:

http://www.thetruthaboutguns.com/2018/02/robert-farago/breaking-remington-filing-bankruptcy/

archive:

http://archive.today/GmNCo


e96f15 No.550565

>>550531

>Cerberus Capital Management LP, the private equity firm that controls Remington, will lose ownership of the company as a result of the bankruptcy. The company’s creditors, which include Franklin Templeton Investments and JPMorgan Asset Management, will exchange their debt holdings for equity in the company.

Good news, the cancer is gone. Bad news, you now have aids.


60aea2 No.550569

Should Remington produce 700s that utilize savage barrels once they fix their QC? You need a gun smith to change rem 700 barrels where savage barrels are easy to install or replace yourself.


7cb660 No.550588

You're next Colt.


626a74 No.550590

Good, less garbage.


7903ad No.550591

>>550588

Sorry Hitler, but that prediction is the one thing you did wrong. not counting having an inflated sense of your own military prowess. Colt will manage to limp along from government contracts even if its civilian sales stop completely.


325593 No.550625

>>550531

>Franklin Templeton Investments and JPMorgan Asset Management, will exchange their debt holdings for equity in the company

>when the jews take you out of the oven




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