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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.

The sale still has to be approved by the bankruptcy court. The company’s creditors could oppose the sale in hopes of a better offer.

Another group that will surely have something to say is the Sandy Hook plaintiffs who’ve already expressed concern that the bankruptcy will let Remington off the hook in their lawsuit’s attempt to claim the company somehow illegally marketed the rifle used by Adam Lanza. Don’t look for the court to give much weight to that argument.

 

UPDATE: The Wall Street Journal report on which this post was based was premature. JJE Capital Holdings has put in a bid for Remington’s ammunition business. However we’ve spoken to Remington and the JJE bid is one of a number that have been received, both for Remington as a whole and for individual business lines. Most haven’t been made public yet. The bankruptcy court has until September 17th to accumulate all bids and then will finalize the sale(s) on September 24th.

 

 

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116 COMMENTS

      • I’ve been avoiding Remington ammo ever since my P220 malfunctioned at the range, only to find out that one of the rounds in the box was incorrectly headspaced, preventing the gun from going into battery. This was straight from the factory where, presumably, QC is not a thing.

        • They are all the same. I’ve got some federal match .308 with no primer, upside down primer, sideways primer. No powder. Differing OAL’s. This was from a single case.

        • I bought a box of .40s once that had a round with the bullet in backwards. I contacted them, sent them the box, bullet and my purchase proof and they sent me coupon for a new box of ammo back.

        • I’m off light. A bucket of 9mm I got cheap a couple of years ago so far has my only ammo based centerfire FTF. Went through multiple guns so it wasn’t a light strike.

        • To Tom in Oregon:
          How in hell did they get a primer in sideways without making it, and presumably the charge, go BANG?

        • Ammunition has an overall length. The firearm chamber is reamed to set the headspace, and uses headspace gauges during the reaming process. So, No,… the ammunition is not headspaced, it is set to an overall length so it will work properly in the specific firearm for which it was loaded for.

        • that’s ignorant! Out of millions of rounds one malfunctions! Then, everything Remington produces is junk?

        • Ammunition is not head spaced. The chamber is head spaced. Ammo is set to length and the cases are trimmed to length. Pistol ammo headspaces of the case mouth, centerfire rifle either off the rim or in the case of semi rimmed or rimless cartridges, it headspaces off the shoulder. No way the ammo was the cause of the bolt no going into battery unless it was way too long and the shooter should have noticed that.

        • And BTW, the external dimensions of 5.56 and .223 are identical. The headspace guage you use to measure the chamber is identical. The only difference is in the length of the throat or freebore. More jump to the lands creates less pressure.

    • The company that bought them had Remington take out loans and give the parent company the cash. They got saddled with a lot of debt that wasn’t used to improve the business, like inventing new products or expanding production lines. It also kept them from getting loans to improve the actual business.

        • This is known as a leveraged buyout and used to be more common. Basically you make the company pay for its own purchase to pay off the debt you accrued buying it. It is less common now because the debt load frequently kills the company.

        • Because it is a big money, fast profit, Wall Street finance wizard trick to suck the life out of a company and feast upon its dying body even as it struggles to survive. With the massive profits possible for doing no work at all, for producing nothing, it is easy to gain political influence.

          Including when illegal finance chicanery is being done. The 2008 mortgage and home price market collapse, Mortgage Backed Securities and Crdit Swaps, much of it lies and falsehoods and barely anyone went to jail or was even investigated.

          Power has its privilege, and money is power.

        • Enuf,

          “The 2008 mortgage and home price market collapse, Mortgage Backed Securities and Crdit Swaps, much of it lies and falsehoods and barely anyone went to jail or was even investigated.”

          Remind me again who was the President from 2008 to 2016?

        • Sock Dollager, after the whole 2008 crisis, which George W. rode us into, Congress passed and Obama signed sweeping financial reforms to prevent this crap from happening again. Since Trump took office most have been all repealed to appease Trump’s financial buddies .

        • What a cunning stunt.

          The mortgage bonfire was first lit by Pres Clinton and then HUD secty Andrew Cuomo who insisted American taxpayers should go on the hook for billions in LIAR and NINJA loans, which Wall Street took as a green light to repackage the BS loans, resell them as a financial entity on their own which were used to hedge gazillions in other investments.

          once so many unsustainable mortgages went into default, those investments also became worthless.

          Bush, for all his failings, repeatedly sent his Treasury Secty to Congress to to tell them to turn off the Fannie Mae spigot but CHUCK SCHUMER, CHRIS DODD and BARNEY FRANK, all Dems on the campaign contribution dole from Wall Street, REFUSED to slow it down.

          Aside from his BS legislation which spent more time trying to establish a new finance tsar with no oversight or ability to be recalled, Obama’s 8 years in office and his control of the Dept of Just-Us led to ZERO PROSECUTIONS of those on Wall Street who could be partially held responsible the melt down.

          WHICH WAS THE POINT OF THE DISCUSSION.

          PS – we again see Andrew Cuomo’s incompetency as he murdered over 11,000 seniors with China virus.

          ********
          “A system of licensing and registration is the perfect device to deny gun ownership to the bourgeoisie.” — Vladimir Lenin

          “The goal of socialism is communism” — Vladimir Lenin

          Protect Your Freedom:
          Crush Marxism, Communism, Nazism & JIhadism.

      • Sounds like the same management style that killed Sears. If my memory is correct, the same “investment ” group that bought Remington also acquired Marlin. look at the overpricing on Marlin rifles now.

      • Isn’t that what happened to S&W as well, on addition to the Brit purchaser agreeing to every gun control scheme they could find?

      • Yes vulture capitalisim. Like what Mitt used to do. Buy a company run up the debt as high as possable while cutting costs to the bone ruining quality while proffits go up milking all they can fom it then letting the debt ridden carcus go bankrupt.

      • The Remington Ammunition Business is worth at least 5 billion dollars.
        The Stock Holders should sue those that forced Remington to take out huge loans to put in their pockets and leave Remington and public Stock Holders, pension plans etc on the hook and intentionally force Remington into bankruptcy. The Administration the DOJ and others should be very involved and rescue the Common Stock Holders and the jobs at Remington. Those that raided the company should be made examples of and go to jail. The proceeds from the loans and the personal and corporate holdings of those individuals be forfeited.

    • One thing that hurt them was their New York Plant was shut down during the Covid Shutdowns because the Government of New York deemed them non Essential. All of the guns out there were already sold and they couldn’t make more. 2nd is the money they are spending on the Frivolous Law Suit about Sandy Hook!

      • However they opened a plant in Alabama in 2014, so NY has little to do with manufacturing the handguns that are popular; the RM380, R1 models as well as AR’s built in the Alabama plant. The bigger issue is the parent company, R51 release failure, and Sandy Hook lawsuit. For what it’s worth: the RM380 is an excellent firearm, and I like it more than the LCP. And the R1 Ultralight Executive is an excellent sized CC 45acp 1911; if you can find one.

        • I bought the R51 on a half price clearance at Sportsman’s Warehouse, $199. That was after it was in discontinued. Have to say it has worked fine for me, no complaints.

          Had they done things right the first time, they’d of had a popular seller in a single stack 9mm. Damned sad screw-up.

          Now we’ll never see the R53 in .45ACP. Itis said it performed better than the Colt 1911 in Army tests before WW1. But the Colt was already in full production and with war coming the cost and time to fund a manufacture line just wasn’t feasable.

          Google the “Remington model 53”, it’s an interesting story of a gun design that came close to huge success.

    • Kids- what we’re seeing here is also the result of frivolous lawsuits being filed against a legitimate gun and ammo producer. No need to win the suit, just tie up their money and options for the future, keep piling on the Bloomberg-type money and eventually the target will have to roll over. It seems quite the ignorant path to take by so-called gun people to celebrate the demise of anyone in our chosen field of interest but I guess there’s no IQ test or minimum needed to post on TTAG.

      • Can’t argue. With lawshit the way it is, I think our next Constitutional Amendment needs to be “Loser Pays”. Only thing I can see that will break this.

    • I have to laugh at all you asking how Remington could go out of business… Seriously? Some of you apparently can’t read or lack the common sense to get it..

      Remington was SUED out of existence combined with one of their product lines having a design flaw that occurred at the same time…

      But it was primarily the ANTI GUN side that caused this because of the BILLIONS in suits filed and so far upheld in liberal courts.

      Wake up people.. Remington is the first and WON’T be the last..

  1. The distraught parents who left their children beneath Gun Free Zone Signs should sue the socks off the buffoons who led them to believe their kids were safe. The very people who set their kids up for slaughter with Gun Free Zone Signs are the people the distraught parents are in camp with. Talk about stuck on stupid.

    • Signs, signs, everywhere a sign. Do this, don’t do that, Can’t you read the signs. People believe a Keep Out sign keeps people out.

      • Ever since I heard someone sing “And the sign said ‘Long-haired freaky people will be shot on sight'”, I’ve never been able to hear it any other way.

        Disturbing or funny- it’s up to you.

        Right now, some feel unsettled, some contemplative, and others just laughed out loud.

        What’s important is recognizing why you reacted the way you did.

        • Except that’s not the lyric of the Five Man Electrical Band song:

          “Sign says long haired freaky lookin’ people need not apply/So I tucked my hair up under my hat and I went in to ask ’em why.” and so on.

          There’s another line “Sign said anybody caught trespassing will be shot on sight/So I jumped on the fence and yelled at the house, ‘hey! what gives you the right?”

          Uh, maybe Castle Doctrine?

        • That’s correct- most people familiar with the song know the lyrics.

          I once heard someone sing it differently, and the lyrical mishap really sank in. I do not know if the lyrical alteration was intentional or not, but the resultant overt ignominy has kept me from being able to hear it as originally written ever since.

          I tip my hat to Possum’s suggestion.

          Some will find it hilarious, and may even adopt the revision just for fun. It all depends on one’s perspective.

      • Alright, stop this! No Five Man Electrical Band allowed. Ever. it’s in TTAG’s official charter….honest….

        (And no Norman Greenbaum, either!)

  2. ,what about the company who bought it? Are they pro 2A or do they like golf clubs? I’m speechless, I mean, just Wow. 5 million gunms sell a month and a Firegunm company goes tits up?

        • I was in the Greenville store on Tuesday this week. They were only allowing about 10 people in at a time, even had a guard person at door. I waited outside in a line of about 15 people.

          Once inside, no range ammo and no reloading supplies. I think 3 boxes of CCI large rifle primers. Shelves empty. Defensive ammo only, the expensive kind. Plenty of parts for ARs and such.

          However, full of long guns. Every slot in the behind counter racks were filled. About half the pistol display cases filled. I looked at a Beretta 1301…I am wanting that one bad.

        • The parent company essentially IS PSA. Jamin McCallum, the founder of PSA, is also the Owner/CEO of JJE. This could be a big deal.

        • Went in a LGS yesterday for a transfer (Glock 19x from Buds) and there were a few people in there, decent selection, too. Probably three or four ARs, several hunting rifles, a couple levers, and probably 20-30 handguns, pistols and revolvers. Very little ammo, but some.
          While I was in there, they sold two ARs (one to a black gentleman, if that matters), and a derringer. The place was doing brisk business but no lines, not panicky in the least.
          Tennessee. America.

      • That is good news. I didn’t know how the Navajo nation intended to run Remington, but I didn’t have a good feeling about it.

  3. Too bad…, I myself have several Remingtons…,
    I hunted with 1100,s,, (two different shotgun’s),
    Plus one of my favorite deer & elk, rifles in the early days, were Remington 08’s, still my fave for deer.
    Anyhoo… so sad , too bad , good buy for someone because of the notoriety the company is getting, & people that know hunting guns know they were good guns. All companies will go through hard times, but that’s because, every one coming up the ladder always seem to have a better idea,… very few turn out to be better…. ,,, FREE KYLE…!

  4. They have portfolio holdings with PSA Defense, Palmetto State Armory, Palmetto Outdoor Shooting Facility and Lead Star Arms. As well as other Machine tool companies. So they may be on the up and up.

  5. Any word on what is likely to come of Remington Arms? I’ve bought their current production guns and all have been just fine. I was looking to get an 11-87P after the panic. Hope they’re still around making them with a management team that gives a damn.

  6. Any company that can’t maintain a profit should go under. That being said, now is a good time to kill off the Thunderturd line of .22s

      • I have 2 .22s that choke on Federal and several other brands but love Thunderbolts and Golden Bullets. So I’d prefer it if they kept being manufactured.

        That’s the free market. You buy the product you want and I’ll buy the product I want and manufacturers can make both.

  7. SIG has an ammo plant in Arkansas close to the Remington ammo plant in Lonoke, so if the buyer closes that plant instead of expanding, expect SIG to swoop in and expand even more.

  8. I’ve always found Remington ammo to work well and the green box stuff really good. Let’s hope the new owners don’t fuck this up.

  9. What about the other ammo brands, like UMC? Are they part of the deal, is Remington keeping some ammo capacity, or do they go to the dustbin of history?

  10. I thought Remington itself was actually owned by the Freedom Group who also owned Barnes Bullets, AAC Suppressors, Remington of course, maybe Lone Wolf barrels and a whole bunch of other companies we have heard of…

  11. Interesting. Didnt know about JJE Cap Holdings and their business portfolio. Very cool. Hope they are the successful bidder.

    • So, I don’t know much about W. Virginia politics… are they pro or anti 2A ? I think they still have a Republican governor,right?

      • WV is a very recent Republican defector state.

        The state used to be wall-to-wall Democrat since the days of the New Deal and Roosevelt era for the entire 20th century. WV then started voting for the Republican in every presidential race since 2000, but the overwhelming majority of its state and local politicians were still Dem.

        This changed in 2014 when Republicans finally took over the state legislature for the first time since 1932. In 2016 they ousted almost all the Dems from the major state office positions and in August 2017 the governor Jim Justice switched his party from D to R. He is still the governor.

        Today, the only major WV offices held by Democrats are the Treasurer’s office which has been held by John Perdue for 23 stinkin’ years, and that asswipe Senator Joe Manchin.

  12. The only Remington ammo I’ve ever had an issue with, is the 22LR Golden Bullet. Haven’t used any rifle rounds, so I cannot address that possibility. As for other handgun rounds, no issues with various 22WMR, 380, 9mm, 40, or 45. The only issue I’ve had with those, are they are generally premium priced! As with many products, if you search enough, you will find decent prices eventually. I’ve often found some excellent deals on their 25 round Golden Saber ammunition.

  13. As a Remington Employee at the Lonoke Ammunition facility, I can clear up some things from the comments.

    First, we are no longer owned by Freedom Group. 2 years ago, we had our first bankruptcy which was caused by the Freedom group taking out almost $900 Million in loans in order to pay their investors. They then declared bankruptcy and we were acquired by our lien holders; 2 very large banks.
    During the Freedom Group era, we acquired Marlin, Para, DPMS, Bushmaster, AAC, Barnes, H&R, and a few other brands. They are still part of Remington.
    The bids for the company, both in pieces and as a whole, were due in September 4th. There were multiple bids, but only the PSA/JJE Capital bid has been revealed, and it is only for the ammo portion of the company. On the 17th of September, there will be an auction. They are going to try to sell us all as one, but if that fails to bring about the minimum bid, they will separate the firearms and ammo business. Then each of those will be auctioned with the ammo side starting at $65 million, going up in increments of $500,000.
    Hope this clears some stuff up.
    Those of us at the plant sincerely do try our best to put out quality ammunition, but bad rounds do get by us when you are making millions of rounds a day.

      • Well, we WERE making millions of rounds per day. Since a little before bankruptcy, our owners cut off all capital for raw materials. Our current output is a fraction of what we can do. During the .22 shortage a few years ago, we were making 7+ million rounds a day but you never could find it in the store. Ammo is still going out the door, but with as many gun shops as there are in the US, it is going to take ALL of the ammo manufacturing facilities working at full capacity for months on end to restock the shelves. Unfortunately, that’s not going to happen. During the BHO years, everyone in the industry had to tool up to meet demand. As soon as Trump got in office, demand fell off significantly and there were massive layoffs and buildup of inventory. Those in the industry don’t want to go through that again.

  14. To prove to ANYBODY who can fog a mirror that Sandy Hoax was just that, go to The Old Farmer’s Almanac, type in December 14 for ANY year you care to see since they have been keeping records, and see what the temps were for that day. Connecticut is like an ice box that time of year with lots of snow on the ground. Why was there not even one man, woman or child with fogging breath in the videos on that day?? WHY are the parents of supposedly murdered children laughing and smiling like that?? Where are their tears of pain and sorrow?? Why was there no snow on the ground on December 14, 2012, but one year later, the place was a winter wonderland with snow all over the place?? Why doesn’t anybody else bring up the weather for that alleged date in infamy?

  15. Never had a problem with Remington ammo until recently then noticed quality was sacrificed for economy. Thank God I stocked up considering current situation.

    For all fellow reloaders, this Texan is wondering where all y’all are finding brass? I am short on 9mm, 40 S&W, 3006 and 357. Loaded 44 Mag six months ago and barer cupboards than Mother Hubbard since!

  16. Remember that Tompkins PLC sold S&W ( for which it paid $112 million) for $15 million to Saf-T Hammer.

    We shooters should form a LLC and buy Remington Firearms. If 250,000 gun owners spent $500 for the deal instead of a new gun, we could offer $125 million for the gun company in Bankruptcy.

    Bankruptcy could clear the Lawsuit if that was made a part of the deal. Then refuse to sell any guns to CT!

  17. I wonder what will happen to Dakota Arms and Nesika? Remington’s parent company owned them. And what they’d want for Miller Arms, a company that they never ran after buying it, and then unceremoniously closed down.

  18. I had 2 boxes of 550 Golden Bullets .22LR. It was the worst rimfire I’ve ever had in my 50 years of shooting .22s. It had a dud rate of almost 10% in 3 different guns: Ruger 10/22, S&W 15-22 and S&W 22A pistol.

    A few years later I had some 9mm UMC 115 grain I was using at a class. I had about 8 rounds that were obviously way too short so I didn’t shoot them. When I got home I pulled the bullets so I could use the primed brass and bullet to reload them. When I checked the powder charge it was 4.0 – 4.1 grains for all but 1 round. That one had 6.4 grains of powder.

    Quality control is seriously lacking. For these reasons I won’t buy any Remington ammo.

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