Remmington Outdoor company to file for Chapter 11 Bankruptcy

[steelhead'r]

9 hours ago, chinook35 said:

WHAT???


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On ‎2‎/‎14‎/‎2018 at 6:40 AM, jimski2 said:

You who elected Trump are the culprits who caused this. When Obama and his gun law history created paranoia among the owners who hoarded more guns but now stopped purchasing more guns feeling more secure with Trump in office. Yes I voted for Trump but if Hillary was elected guns and ammo sales would have picked up.

Yup. Same thing happened to Gander Mountian.  After opening too many stores to fast in bad locations they thought Hilary was a sure thing. with high gun sales before the election they bought 500 million dollars worth of guns, Trump won and they couldn't make payments.  

[horsehunter]

Companies should not be able to file for bankruptcy stiff the creditors , employees and pensioners then reopen with a clean slate.

[Reel Overtime]

I just looked at two semi-auto, shot guns rem and weatherbee . the rem was more $$ and not as nice a gun....   they need to change something but this is a cop out... i own three rem guns....the sandy hook thing is an excuse....take the responsibility....

[chinook35]

I have owned Remington firearms my whole life. I have an 1100TB , that has thousands and thousands of rounds through it . Never an issue with dependability I own 3 870’s same thing. Never a problem. I have a 760 in .308. Love it. The list goes on. I am a Remington man. If they go the way of the dinosaur , it will be a sad day


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[Absolut40]

The newer guns that Remington is producing are junk compared to what they use to produce. 

[edwardvh1]

One of my sons bought a Remi semi auto shotgun a year ago has had tons of problems sent it back twice already.

 

 

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[Gill-T]

I think all the new shotgun manufacturers cut corners.  I always wanted a Browning Auto-5 so I picked up the new version and it felt and looked so poorly made I walked over to the used rack and bought one built in 1952

[Absolut40]

You can't go wrong with an A5.One of the best semi autos in my opinion

[tuffishooker]

We mentor young hunters ;one of them bought  a Remington 870 new was very disappointed with the quality  of  the workmanship :first time out took all four geese next time a coyote at 5 yrds !

[EsoxAC3]

Not the first time Remington has sought creditor protection and a restructure if im not mistaken.

 

 

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[garrymny]

On 2/14/2018 at 6:40 AM, jimski2 said:

You who elected Trump are the culprits who caused this. When Obama and his gun law history created paranoia among the owners who hoarded more guns but now stopped purchasing more guns feeling more secure with Trump in office. Yes I voted for Trump but if Hillary was elected guns and ammo sales would have picked up.

 

Pathetic theory.

 

[jimski2]

The "old timer" gunsmiths made quality firearms. Then the business types took over management and took shortcut production methods. The result was guns that did not meet the quality standards formerly held by the "old timers'. Not only Remington but all manufacturers suffered so if you are out shopping, buy an older model used gun that performed for years not the new crap being produced today. Just because it is new means nothing.

[Sk8man]

Problem may be more wide spread

https://www.msn.com/en-us/money/companies/remingtons-bankruptcy-could-be-the-tip-of-the-iceberg/ar-BBJcMXQ?OCID=ansmsnnews11

 

[RUNNIN REBEL]

Gun sales plunge for Smith & Wesson owner

 

by Aaron Smith   @AaronSmithCNN March 1, 2018: 6:29 PM ET

 

 

American Outdoor Brands posted lousy earnings Thursday, as the gun industry continues to suffer.

The company, which owns the famous Smith & Wesson brand, reported a 33% year-over-year decline in quarterly net sales, and profits that sank 65%.

 

Shares plunged 18% in after-hours trading, and are down 26% year-to-date.

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Related: A cloud hangs over the gun industry

American Outdoor Brands (AOBC) makes and sells a variety of guns, including a popular line of handguns and military-style semiautomatic rifles. These AR-15-style rifles are referred to as assault rifles by gun control advocates, but the industry calls them modern sporting rifles.

The company also said Thursday that it's eliminated 200 jobs last quarter.

On the earnings call, Chief Executive Officer James Debney addressed the Parkland shooting, saying "we share our nation's grief." But he added that the decision announced Wednesday by Dick's Sporting Goods (DKS) to stop selling modern sporting rifles will have an "extremely small" impact on the company's sales.

Walmart (WMT) stopped selling these kinds of guns in 2015.

Related: Who's still selling assault-style rifles?

Walmart, Dick's and the Fred Meyer stores, which are a unit of the Kroger (KR) grocery, all said this week that they will no longer sell guns to anyone under 21.

But gunmakers were struggling even before the latest backlash.

Sturm Ruger, (RGR) which makes a variety of firearms including semiautomatic rifles, recently reported double-digit declines in sales and profits and has laid off hundreds of workers in the last year.

Vista Outdoor (VSTO), which makes ammunition and also the Savage Arms brand of semiautomatic rifles, also reported dismal earnings earlier this year.

Remington, which makes the Bushmaster rifle used in the 2012 Sandy Hook shooting in Newtown, Connecticut, recently said it's preparing to file for Chapter 11 bankruptcy

 

 

 

 

 

 

 

 

 

 

 

 

Les you may be correct,  Fire arms & ammunition and Sports stores are all experiencing down turns along with bad publicity. Many layoffs already and more still to come.

 

Jerry

RUNNIN REBEL

 

Edited March 2, 2018 by RUNNIN REBEL

[RUNNIN REBEL]

"Two employees of Dick's Sporting Goods recently resigned after the company's CEO responded to the Florida school shooting by raising the minimum required age to purchase a long gun.

One of the men, 20-year-old Alexander DeGarmo, told Neil Cavuto he had no qualms with the company until Dick's chief Edward Stack sent out the directive.

DeGarmo said Stack's decision meant he could not buy the same items he sold as an employee of Dick's.

"Until Edward Stack came out with these absolutely arbitrary and insane rules I had no issue [working there]," DeGarmo said.

Molly Henneberg reported that another man, 20-year-old hunter Griffin McCullar, resigned under similar circumstances."

 

They have a point of selling something that they cannot buy........Some business model there....

 

Jerry

RUNNIN REBEL

Edited March 3, 2018 by RUNNIN REBEL

[bandrus1]

HUGE news 2 cashiers at a national chain resign!!! Fox really stirring the pot on this one. 

 

Individuals under 21 can sell alcohol, guess they will rule out gas stations for their next career path

Edited March 3, 2018 by bandrus1

[katydid]

Almighy...we don't need more guns...

[Sk8man]

It is a shame that this country's elected officials...  seem to throw the baby out with the bath water a lot basing decisions on emotional factors rather than gaining a full understanding of issues and then basing decisions on facts and data. These companies may want to divest themselves of the so-called "assault" weapons manufacturing and sales and concentrate on making the case about how unfair it is to penalize young people with no criminal records, or "actionable" mental health issues who just want to be able to hunt and target shoot and go to court to fight it based on that alone as the younger people are the companies future. As soon as these other weapons are included in the mix the whole issue becomes clouded and polarized because of the extreme emotions involved. It is too easy to lump all guns and users into one category for the anti-gun folks agenda. I should think it could also short circuit a lot of the animosity towards other firearms if it appeared that there was "give" on this issue andit could save some jobs.

[chinook35]

Christ Almighy...we don't need more guns...

   

 

Sent from my iPhone using Lake Ontario United mobile appspeak for yourself collecting and shooting new guns is a great hobby

 

 

 

 

 

[chinook35]

5 hours ago, chinook35 said:

    speak for yourself collecting and shooting new guns is a great hobby

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[katydid]

This country needs more guns?  With the highest gun crime in the world. Sorry....I disagree.

[spoonfed-1]

6 hours ago, katydid said:

This country needs more guns?  With the highest gun crime in the world. Sorry....I disagree.

 

Actually the statistics I saw claim the US as 3rd in the world for homicides and drops considerably if you eliminate Chicago, Detroit, Washington D.C. and New Orleans. Those four cities have the toughest gun laws in the country.

Perhaps this country needs less criminals. Get them off the streets what a concept. Oh ya, I forgot they have rights.

[Gator]

I'm not advocating for more gun laws. And I'm not pushing for greater restrictions. I'm just listening now, trying to figure stuff out...a measured response (if at all). But what gets me about this latest shooting is the same thing that gets me about America's "conversation on sexual harassment". The term that comes to mind is weaponized outrage.

 

Folks are so mad they can't see straight. It's scary, because there's been some ugly, nasty stuff done throughout history by people in the throes of righteous indignation. I wish the talking heads would stop spinning this stuff for political gain and have a real conversation.

[bandrus1]

1 hour ago, spoonfed-1 said:

 

 I forgot they have rights.

How patriotic 

Edited March 4, 2018 by bandrus1

[katydid]

3 hours ago, spoonfed-1 said:

 

Actually the statistics I saw claim the US as 3rd in the world for homicides and drops considerably if you eliminate Chicago, Detroit, Washington D.C. and New Orleans. Those four cities have the toughest gun laws in the country.

Perhaps this country needs less criminals. Get them off the streets what a concept. Oh ya, I forgot they have rights.

"I forgot that  they had rights"

REALLY?