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Remington Agrees to Sell Ammunition Business, Including Barnes Bullets, for $65 Million
The Truth About Guns.com ^
| 9/9/2020
| DAN ZIMMERMAN
Posted on 09/10/2020 6:39:41 PM PDT by Beave Meister
Remington filed for Chapter 11 bankruptcy protection for the second time in July. That was after a failed attempt to sell the company to the Navajo Nation and despite the biggest gun-buying boom in the history of the world. Since then, the company has been trying to sell off its various brands and operating units.
Today, the Wall Street Journal reports that . . .
Firearms maker Remington Outdoor Co. has agreed to sell its ammunition business out of bankruptcy to South Carolina-based investment firm JJE Capital Holdings LLC for $65 million plus the assumption of liabilities, subject to better offers.
The JJE offer came in the form of a stalking-horse bid, setting a floor on the sale price for Remington’s ammunition business, which the company has been marketing while in chapter 11. Remington filed for bankruptcy protection in July and has been open to selling its ammunition and firearms operations to pay off its debt.
The proposed deal outlined in papers filed Tuesday in the U.S. Bankruptcy Court in Decatur, Ala., covers the design and manufacturing of ammunition sold under the Remington and Barnes Bullets brands and includes production facilities in Arkansas and Utah.
(Excerpt) Read more at thetruthaboutguns.com ...
TOPICS: Chit/Chat
KEYWORDS: 2a; 2ndamendment; ammo; ammunition; banglist; bankrupt; bankruptcy; bk; bullets; chapter11; firearms; guns; handguns; nra; remington; secondamendment
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Are their ammo and guns that bad? How does a gun and ammo manufacture lose money in this gun market? Or is due to mismanagement?
To: Beave Meister
In the greatest gun and ammo market in the history of guns and ammo a company would have to be inept to go into bankruptcy.
2
posted on
09/10/2020 6:41:32 PM PDT
by
Rebelbase
(Plugs/Jugs 2020....Joe/Ho 2020...)
To: Rebelbase
22 lr. is cheap-4 cents/pop.
3
posted on
09/10/2020 6:46:30 PM PDT
by
DIRTYSECRET
(urope. Why do they put up with this.)
To: Beave Meister
If Biden wins they’re not worth a plugged nickel.
4
posted on
09/10/2020 6:49:07 PM PDT
by
Steely Tom
([Seth Rich] == [the Democrats' John Dean])
To: Beave Meister
Are their ammo and guns that bad? How does a gun and ammo manufacture lose money in this gun market? Or is due to mismanagement?
My question exactly. If you can't make it in this climate, indeed time to find another line of work.
5
posted on
09/10/2020 6:49:24 PM PDT
by
GLDNGUN
To: Beave Meister
WSJ article avoids discussion of product quality. It does, however, describe the long-running lawsuit following the Sandy Hook school shooting.
6
posted on
09/10/2020 6:50:41 PM PDT
by
NautiNurse
(Put $5000 cash in an envelope. Mail it to yourself. If this makes you queasy, vote at the polls.)
To: Rebelbase
See NYT Magazine May 1, 2019:
How America’s Oldest Gun Maker Went Bankrupt:
A Financial Engineering Mystery
When a secretive private equity
firm bought Remington, sales
were strong and the future
bright. A decade later, the
company couldn’t escape its debts.
By JESSE BARRON MAY 1, 2019
7
posted on
09/10/2020 6:52:38 PM PDT
by
Neanderthal
(The Devil walks with Democrats)
To: Beave Meister
Methinks this is another prong of the Global Neo-Feudalist™ attack on the 2nd amendment by taking over then hollowing out firearm manufacturers from the boardroom...
8
posted on
09/10/2020 6:53:10 PM PDT
by
SecondAmendment
(This just proves my latest theory ... LEFTISTS RUIN EVERYTHING)
To: Neanderthal
Gutted by Soros-funded gun grabbers?
Like a tape worm eating all the victim’s nutrients...
9
posted on
09/10/2020 6:54:53 PM PDT
by
Alas Babylon!
(The prisons do not fill themselves. Get moving, Barr!)
To: Rebelbase
[In the greatest gun and ammo market in the history of guns and ammo a company would have to be inept to go into bankruptcy.]
It would certainly seem like it.
10
posted on
09/10/2020 6:55:02 PM PDT
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Beave Meister
“Are their ammo and guns that bad?”
Just the name “Remington” should be worth a fortune. This was a respected American company and brand since forever. I hope the brand can survive under someones stewardship.
To: Beave Meister
Buy Federal. American Eagle. CCI. Blazer. Buy American and save the American gun industry. Buy 3x more than you need. Then double it.
12
posted on
09/10/2020 6:55:53 PM PDT
by
samadams2000
(Get your houses in order.)
To: Beave Meister
Two words. Private equity.
To: Alas Babylon!
[Gutted by Soros-funded gun grabbers?]
Well, Leftists certainly destroy everything they touch.
14
posted on
09/10/2020 6:56:53 PM PDT
by
SaveFerris
(Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
To: Beave Meister
What kind of inept management with the Remington name and the unsettling times can’t make a go of it? Pathetic, must be a closet progressive running this Co. into the ground.
15
posted on
09/10/2020 6:56:59 PM PDT
by
DAC21
(S)
To: Beave Meister
Barnes Bullets are excellent but expensive.
L
16
posted on
09/10/2020 6:57:17 PM PDT
by
Lurker
(Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
To: Beave Meister
Someone really screwed the pooch. They have an R51 with Crimson Trace sights that I lust in my heart for:
17
posted on
09/10/2020 6:59:10 PM PDT
by
Viking2002
("If a really stupid person becomes senile......how can you tell?" - George Carlin)
To: Beave Meister
DPMS was bought out by Remington and shut down.
I smell George Soros.
18
posted on
09/10/2020 7:00:27 PM PDT
by
E. Pluribus Unum
(When exposing a crime is treated as committing a crime, you are being ruled by criminals. -E Snowden)
To: DIRTYSECRET
19
posted on
09/10/2020 7:03:06 PM PDT
by
Magnum44
(My comprehensive terrorism plan: Hunt them down and kill them.)
To: DIRTYSECRET
For the least expensive version of 22 lr maybe
Remington doesnt have a great track record in many guns compared to cci and higher eend loads
20
posted on
09/10/2020 7:04:40 PM PDT
by
Secret Agent Man
(Gone Galt; Not Averse to Going Bronson.)
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