The bidding process for the sale of most of the assets of Remington Outdoor, Inc. is now complete. The debtors — Remington — have selected the successful bidders for each asset or asset bundle, along with backup bidders, and you can read the complete court filing here which details all of the assets purchased.
The bankruptcy court still needs to approve the successful bids, but they are as follows:
• Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business;
• Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with respect to certain Firearms Business IP assets and Exhibit E with respect to certain non-Marlin Firearms Business inventory, respectively;
• Sierra Bullets, L.L.C. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit F with respect to the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit G with respect to the Barnes Ammunitions Business;
• Sturm, Ruger & Company, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit H with respect to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit I with respect to the Marlin Firearms Business;
• JJE Capital Holdings, LLC as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands;
• Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets; and
• Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand.
The hearing to approve the winning bids will take place on Tuesday, September 29. Watch this space.
Ruger gets Marlin? There may be a .357 lever gun in my future. Time will tell.
Marlin will never go back to the traditional half cock only, but hopefully Ruger will get rid of that [email protected]#$#@!#[email protected] crossbolt and replace it with a transfer bar.
Never have had any issues with the crossbolt safety ever since they brought it out back in the late 70s. But, to each his own. JMO
On my 1894 with the crossbolt, I pulled the stock and locked it in the off position, been using it that way for 20 years in SASS.
20 years ago or so, there was a guy who made a replacement for the crossbolt safety, made it look like another screw in the receiver. Went for about $20, I think, but that was a while ago.
Those are still made. I ordered three of them about four months ago. One in my .45-70, one for my model 94 .357 mag, and one for a friend who has a model 336. Right off I don’t remember the company name, but you can find it at leverguns.com
I put a small rubber o-ring around the safety. Hardly noticeable and works well. One of many in an assortment I had.
I can’t believe how many old guys are still upset, after 40 years, with some safety plopped onto a gun that’s been obsolete since the 1920’s.
“…a gun that’s been obsolete since the 1920’s.”
I believe there are several hundred thousand Deer hunters that would disagree that a lever action 30-30 is an obsolete firearm.
They (Marlin) never went away from the half cock safety . The as you call , “cross bolt safety” , is for safely unloading , the gun . The fact that people are stupid enough to put it on in the woods , while hunting , amazes me !
Poor management, and the stinkin Liberal Controlled Supreme Court finished Remington off. By allowing the Sandy Hook relatives file an Unconstitutional Law Suit, that was the last straw for Remington.. Makes one wonder, who is next?
Now Ruger will totally dominate the .22lr business. Between the 10/22 and the Marlin 60/795 that has got to be 80%+ of all .22 rifle sales. Not knocking Henry, Rossi, Browning, etc. It’s just that the 10/22 and model 60 are the most common.
With the Marlin Model 60, they’ve got the only .22 semiauto that could compete with the 10/22 for long-term sales, so yep, they’ve got that market pretty much nailed down now. (Does Marlin even make their .22 leverguns anymore?)
I’m excited about the prospect of Marlin finally being owned by a real-by-god firearms manufacturer. (Which Remington ceased to be the second the vile Cerberus group took it over.)
Im excited about a Marlin Barrel on a 10/22
Marlin’s custom shop was still building 39A lever action 22s the last I knew for exorbitant prices. Hopefully Ruger will bring them back as a store item. I always believed them to be the best LA 22 by far.
My Winchester Model 69A (circa 1960) has always been the #1 most accurate gun I’ve ever owned or fired. I still use it – just last week, actually – to dispatch vermin that encroach on my property. Iron sights, bolt action, full walnut stock, 5-rd mag. The kind of gun boys and their dads started training with back in the day.
But why did Ruger stops the 22 caliber on the sp101..
Indeed. Great news.
I present to you the Ruger American lever rifle!
Isn’t that called the Henry Long Ranger??
This is intriguing.
For some years now I have wished Ruger would do for lever action rifles what they did for revolvers in the 50s, 60s, and 70s. A design that looks traditional, more or less, on the outside, but which uses modern metallurgy, all modern coil spring lockwork, and an absolute minimum of moving parts manufactured by precision investment casting to be assembled without hand fitting of parts. Could a rotating bolt in a sliding carrier be stronger than the 19th Century toggle-lock designs?
I’d also like to see something similar done with slide action shotgun design, but it is possible that Mossberg has simplified slide action shotguns as much as was ever possible. Still, I just might be willing to pay a premium for a Mossberg 500 clone with a steel receiver.
After Remington moved Marlin to NY, they found that the production process for the leverguns was beyond restarting. I believe they went with CNC stuff to make the components. With Ruger acquiring the CNC assets, it might not pay to go into casting. Perhaps some of the small parts.
Marlins don’t employ a toggle link lockup. Only the Henry 1860, Winchester 1866, Winchester 1873, & Winchester1876 have toggle link locking. Toggle link lockup is inherently weak. None of the other 1800’s black powder lever action rifles employ toggle links. The current Italian & Japanese clones of the 1860, 1873 or 1876 are chambered in smokeless era cartridges. The exception is 357M. 1860, 1866 & 1873 clones are the most popular rifles for cowboy action shooting; because, they have the potential to be the fastest external hammer rifle in common use before 1900. Fortunately being a speed game only they are never feed a steady diet of Buffalo Bore 357M. If they were the toggle links would have to be replace often to prevent a face full of brass & burning powder in the shooter’s face. Too much head space as the case will rupture; because, the case wall is not fully supported by the chamber.
I’d like to see them come out with one in .357 Max, now that would be a real, umm, deerslayer.
Especially if they cut the chamber correctly. I’d get an armful of them, and build one perfect rifle, a la Tuco and his new revolver.
Then I’d assemble the rest and sell them off over time to pay for my investment.
The 10/22’s closest competitor, the Marlin 795, just got bought out by them? Wow.
Isn’t the model 60 far more common than the 795?
I own both and like both (but the 60 more). Maybe the mag fed 795 has surpassed the tube fed 60 recently?
795 is certainly more comparable to the 10/22. Still, I like the 60 best.
I don’t know which one sells best these days, but I’m pretty sure that even the 10/22 has a ways to go before it passes up the Model 60 for all-time sales.
If they stopped making the Model 60 today it would still take 25+ years for the 10/22 to even get close to catching up with sales #s of the Marlin. It has always irked me like fingernail on a chalk board every time someone would say the “Ruger 10/22 is America’s favorite .22 rifle”. Not even close. And I’m a HUGE Ruger Fan. I am ecstatic that Ruger will be tasked with restoring the Marlin reputation. An 1894 in .357 magnum has been on my wish list for some time. I think I wait a couple more years to get one made by Ruger.
In my research on 60 mods and upgrades has lead me to this;
The 795 is better for modifying;
25 rnd mags are out there, just hard to find.
The 795 can be modified to non- somi with a little work and the purchase of a few aftermarket kits, can’t do that with the 60.
Small capacity magazine is the main reason why the 60 is more popular.
The 60 definitely wins the popularity contest. Both are great rifles. I own both. The upside of Ruger buying Marlin is that we will see more accessory and aftermarket parts available. We will likely also see more versions of the 795 than just the basic black synthetic stock model. It’s too good of a rifle to only offer the Walmart special version.
Ruger getting Marlin is hard to wrap my head around.
I always wished Ruger would make a real lever gun instead of the Savage type.
Like Ford buying out Chevy.
Kinda, but they’re buying Chevy from Yugo in this case. It can only get better.
My most recent Marlin, Trapper SBL in 45-70, is solid as a rock. I like the idea of Ruger having Marlin, but I think most of the problems I heard about were behind them, based on a survey of one.
Nail on the head , chris
More like Chevy buying Ford; time to make it good again.
I’m an Ilion employee. I’m not sure what to make about a real estate company buying the rest of the firearms business. Ruger getting marlin is definitely good. But our future in Ilion doesn’t look too promising
Good luck buddy.
Hope everything goes well for the employees.
We shall see. Don’t have a good feeling though
You know you want to leave New York behind anyway, Right? Heading south to North Carolina seems like as good a move as any.
You should be able to find out who their investors, board members, etc. are and whether or not they have any particular political dealings. That should provide a small glimpse into the future. Maybe they’ll sell you guys to Winchester….
So who actually gets Remington?
I think it’s that faceless real-estate company mentioned above. But what even is left of Remington after all of its recognizable brands, including Remington ammunition, have been parceled out, though? I guess there’s still their bolt-action rifles and 1911s and such…maybe they’ll keep making those in Ilion.
I haven’t kept up with which site produces how much of what, but my recent 1911 purchase was produced in Huntsville, AL.
SouthAl, Ilion has been making the majority, Marlin, the 870,1187, versa max and v3 as well as the 700 line all were coming out of ilion. Alabama was making the 1911s, the 783 and the marlin model 60s
Aren’t Remington 1911s assembled from frames and slides they buy from Caspian anyway?
I worked in an unrelated field for a supermarket chain. In 32 yrs. I worked for five different companies doing the same job in the same building. Try to make yourself as valuable as possible.
The real news is that the same company that holds PSA is the winning bidder on DPMS, H&R, AAC, Storm Lake, and Parker.
Oh, and a lever action PC9 carbine is now an option.
A PC9 that’s about 2 pounds lighter would be good. Nothing shooting 9×19 needs to weigh more than 5 pounds. If that.
Yeah but don’t see how taking 2 pounds off that thing could be done without driving the price way up. I like my PC9 and do agree it’s a little chunky. For 9mm though, pick your poison:
– The barrel isn’t fixed (inaccurate)
– Direct blowback (heavy)
– Exotic system (eg. roller delayed) that is expensive and/or unreliable.
Pencil barrel would get it pretty far.
I was hoping PSA would get the ammo business.
I’m glad to know that the Remington ammo machines will be allowing to continue cranking out more business. We can certainly use all we can get.
Marlin going to Ruger is interesting. It’s also interesting to see all the effort to shut down Remington then to see it all go to companies that will use it all to make more firearms and ammo. I’m reasonably sure that the people against Remington thought they were getting somewhere. All it did was transfer everything to someone else.
What about Remington, itself? Will they still exist sovereignly and produce firearms like the 700, 870, and 11-87?
That’s what has me curious.
The Remington branded guns were bought by Roundhill Group. Trying to find out more about them.
Real estate company, which doesn’t make much sense. As an IIion employee idk what to make of that
That appears to be a different company. Roundhill appears to be Nevada entity that’s operated out of California and Florida. But we’re still digging.
I’m not sure. Roundhill LLC comes up as the real estate company
Dan, I think thats the same company. They have offices all over the world
I won’t be at all surprised if NY operations are shut down and production resumed in a friendlier state. Although the gentleman working in NY could give more specific answers, I’ve been led to believe that much of the production machinery is old tech and old which is part of the reason QC has been such a problem. A bunch of CNC equipment could change the reputation of “the new Remington Arms Co” in a hurry. They could stand to put a 3 position safety and better trigger (that also keeps them out of court) on the 700. Listening to what actual customers want to buy would be a good start too.
The 700 trigger/recall problem I fixed myself. No way was I going to send my 1/2 MOA stock 700 in .270 to Remlin Land. It has a Timney now.
So, who will be selling 700s, 870s, etc?
Is Remington just going to disappear along with the safety/trigger lawsuits?
Typically when a company is bought out, the buyer also has to take on the sellers liabilities.
Not with an asset purchase, if done correctly, and for sure not an asset purchase out of BK. Liabilities are for the BK trustee to handle.
Um OK…no real opinions on this. It’d be nice if some long-term employees keep their job’s!
But NONE of the jobs/$ should be in freaking NY state.
What’s Roundill Group, and what does it mean by “non-Marlin Firearms Business”? Is that the Remington branded guns?
Roundhill group is a real estate company. Non-marlin firearms business is everything Remington(shotguns,rifles, handguns).
Glad to hear that Marlin is being bought by a company that actually wants to make quality rifles. I don’t have much hope for the rest of Remington. Is Roundhill really any better than Cerberus?
I dont know. Its weird a random real estate company with all these other gun companies. I can’t find much info on them either
With the liabilities of Remington maybe the only value of Remington is the land and physical buildings.
Maybe the firearms part of Remington will be sold later for pocket change and liquidation.
The final indignity will be when the Remington name itself gets peddled to some Chinese conglomerate so that they can sell cheap Chinese shit to Americans with the Remington name. 5$ knives, $15 coolers, and a $10 snuggle blanket.
The 870 was introduced in 1950; the Model 700 in 1962. There is no protected IP covering these guns. Just like the 1911 or the AR-15, anyone that wanted to could start making their own versions tomorrow. The genius behind the 700 is the receiver turned from bar stock, and the modular trigger. There’s at least half a dozen companies making quality triggers that would be a better choice than an X-Mark.
Sportsman’s Warehouse gets TAPCO
The picture of 24 inch, 1-8 twist plastic barrels for AR’s has entered my mind
jwm prefers the company of men, but if a man isn’t available he’ll settle for Geoff ‘Goof’ PR.
Dan Zimmerman. This is what I was talking about. I don’t want him banned. Just let us know if he’s a regular commenter we would know from the comment section or if he’s just another troll.
His type drags the whole site down.
Dan Z, I’m with JWM on this one…
So what if he did? Are you a homophobe or just so prejudiced against POTG that you think we all are?
Hell, my wife tells me I’m gay all the time, but I have done many thorough inspections and she is definitely female. So maybe I’m non binary. All of my rifles are, sadly, still non binary.
vista getting the ammo business is concerning it puts vista with a massive market share of u.s. made ammo business since they already own blazer, cci, federal,, speer, and estate cartridge
Maybe the Remington UMC ammo will get an upgrade in quality.
UMC is same as white box Winchester. A way to get marginal sales increases wo/diluting price for main brand, Remington & Winchester. Adding Remington’s capacity to ATK’s doesn’t give Vista anything near monopolistic share of world wide ammo production. Except when there is panic driven hoarding like after Sandy Hook through November 2016 & since Covid there is significant excess ammo production capacity. You could find bulk ammo prices in 2019 for boxer primed 55 grain 223 for 28.5 cents each. & 40 grain 22LR for 3.5 cents each. $300 a 1000 round case off 223 was available in big box sporting goods stores. The same price it was in 2010.
They will acquire an over 800,000 sq. ft. existing ammunition plant to add to capacity during the current shortages, which is probably (mostly) a good thing. Not to worry about creating a monopoly though, I have a feeling that ” down the road” when stocks are back to normal, they’ll sell it off to Fiocchi, which is literally down the road.
Franklin Armory ACR with actual caliber options? That would be cool.
Marlin going to Ruger is good. Hopefully Ruger keeps the Marlin name and makes some nice leverguns.
H&R Handi rifle in 300blk again? I always wanted one and then they sold out. Then Remington killed H&R off entirely.
Will the other brands Remington killed off be resurrected along the way?
A real estate company could be a set-up for someone like Soros or another billionaire that is looking to shut down a respectable business.??
I certainly hope not.
That would be cutting of his nose to spit his face. And other than withholding Remington production from the market it wouldn’t significantly reduce the supply of handguns; which, are by wide margin the gun used in gun crime.
I hope they bring back the H&R handi rifle’s.
Glad to see Barnes will keep going and that Marlin has another chance at life. Someone mentioned the H&R line, not likely because it would be direct competition in sales with the budget friendly American rifles and the Ruger #1.
It will be interesting if PSA can crank out bulk ammo cheap on the future.
PSA got the H&R brand, not the ammo manufacturing portion. I think PSA May do well bringing back H&R.
H&R coming back would be great.
Would create more jobs in one year than Biden in his entire career.
I stand corrected. Vista (Smith and Wesson) got the ammo. Hmmm.
Vista is ATK (Blount). Blount is Federal, CCI, RCBS, Speer and subsidiary brands (American Eagle, Blazer, Estate)
S&W is “American Outdoor Brands” which is mostly just S&W plus Crimson Trace and some knife companies like Old Henry.
Not afraid to admit I am wrong twice.
With Ruger taking over Marlin at least the Quality of Marlins should improve because the “Rem-Lins Sucked !!!”
Fitting that you put that last part in quotes, because you clearly just parrot what the interwebz tells you to “think”.
There were several garbage years of post-CT Marlins, but the last 4-5 years of Ilion production saw some of the best Marlins ever made. It took them a while to unfuck the tooling and equipment, and bring them into the CNC age, but I’ve got a half-dozen late model Marlins that are flawless… and factory shipped with threaded barrels, big loops, XS rails, and other features that old-school Marlin would have never had the balls to do- re: the Dark series.
But you keep sheeping back what the interwebz tells you, “usmc”. I hear CNN has some breaking news you’re going to want to talk about in the morning….
Well said…he’ll have the remarks posted on this story have been by Jakes who just scroll on blogs and sites and like you say regurgitate…..does my heart well to see someone speaking truth…..
Well he’s not really wrong. As an employee in Ilion, the way they ran Marlin was incredibly stupid. Just build build build and don’t fix anything until you have an absurd amount of repairs filling the floor that need to be fixed. Youd be amazed if you saw the guns they sent to the gallery to be shot that came back not working right. Someone needs to restore it to being good quality and hopefully Ruger can. I have a 30-30 which(knock on wood) ive had no problems with, but alot of the marlins thatve come out of Ilion havent been that great.
First & foremost, I take it you work at the Remington Arms facility located in Illion, NY. If that is the case, I wish you all the best in regards to your livelihood at that facility…..I purchased one of the last 39A’s that came out of the original Marlin CT facility…the fit & finish from the stock to the receiver was embarrassing. I get it, the Marlin facility was shutting down and the moral was probably not at it’s best. The lever gun is one of the most difficult firearms to manufacture. If it was easy we would see more offerings. Bottom line, the whole idea of a gun & ammo company filing and being sold off in pieces during record retail sales in the firearm industry is mind boggling….best to you in your future my friend…
Thank you. Means alot
As a customer this is good for me. But as an employee I don’t know? Good luck to the workers. Rough times are coming for some.
I worked for Chrysler for 35 years before Cerberus & Mr Feinberg bought in. He bankrupted Chrysler just as he did Remington & he only cares about a money profit. I saw long term friends in their 40’s 50’s & 60’s that had to start over because of this New York money manipulator. I hope the buyers keep the plants open for these people as some kind of a reward for their loyalty, but there will be trimming, I am certain. God be with you & your families.
Yes ran up as much debt as possible while milking as much profits then filing bankruptcy. They used to call that vulture capitalism.
Hope Ruger makes a lever gun in 350 Legend
I want the guide gun in .500 magnum.
I want a pony!
Don’t we ALL want a pony, deep down?
Nah, I’d much rather have a burro. Much more useful choice IMO, kind of like choosing a Jeep over a Cooper Mini.
I wonder what’s going to happen to the Remington 597. I’m not familiar with Roundhill.
I have a 597 .22 Magnum and it is discontinued, but I think the .22 LR model is still made. I’m not all that happy with the magazines for the 597 .22 Magnum and have been considering replacing it with a Henry .22 Magnum lever action.
I use it as a groundhog and coyote gun.
Look for a Ruger 96 in 22 WMR….Lever action with the rotary magazine. Mine is amazingly accurate & the 22 WMR with a 40 gr CCI Gamepoint will almost take anything down.
Thanks for the advice!
Ruger owning Marlin!? That would be the awsome! I hope this stuff happens.
What happened to Para Ordinance, Remington bought them a few years and “POOF”!
Para was making some very nice pistols!
They have a logistics and industrial segment with strong expertise in the commercial segment…….Speculating they may be getting into the firearms business in the U.S.??
Good luck to all the employees involved. Bankruptcies, mergers and acquisitions are a very stressful time with all the unknowns. At least this takes one unknown out of the equation.
My question is how many of these companies does old George Soros have his hand in
I’m going to tentatively say, there goes the single chance for Century to being forced into building AK’s that aren’t a major safety hazard.
Imported rifle is fine.
OTOH, PSA picking them up would’ve turned out the same. Tapco is sorely needed for 922r compliance bits, they use to make loads of parts that no one else would invest time into.
I’m excited for all involved. I hope long-tenured employees (not management, but production personnel) get to stay on and help guide the future of the respective companies. I exclude management because management was complicit and likely partially responsible for the demise of Remington Arms.
I plan to put a Ruger-Marlin 1894 in my safe as soon as they get it all sorted out and production/design back to where it needs to be. I believe Ruger and Marlin are a great pairing, and I can’t wait to see where that goes.
I’ll consider another chance on a 700, but the last one I had (2004-production) was so bad I had to sell it. However, I’m not sure that some real estate holding company owning Remington is going to bring about new production synergies that will change what I experienced with my last 700, though…
I’m also quite pleased that the parent company of CCI/Federal/American Eagle bought the Lonoke ammo plant. The world needs good quality, affordable ammo (and lots of it!).
So, do Roundhill also get the smaller brands like Dakota Arms, Nesika, and the now dormant Miller Arms? Or will these be killed off? Would be sad to see them go.
It seems like Marlin should own Ruger. lol. Marlin is the best lever ever. I know when Remington first started making them they had issues but the late ones were good to go. I have several Rugers with problems of late.
Probably the best news out there, actual 2A companies taking charge of the Remington assets. Too bad Cerberus created a FUBAR of their management of Remington. I’ve always liked their ammunition. I’m surprised Hornady did not make an attempt to grab their ammo divisions, as Remington’s ammunition production is going like gangbusters. I have owned a Model 60 from Marlin for almost 40 years and it was the rifle I trained my kids with when they achieved an appropriate age. One thing is for certain – quality for Remington will go drastically up with this exchange of ownership.
Hello all, I never thought I’d live to see the day that there isn’t going to be a Remington 700 around. That’s just sad! But the last 5 or 6 rems I have bought over the last 15 years have been a disappointment. Each one I had was dropped off at my gunsmith for barrel replacement. Krieger being my favorite . Replace trigger with a jewel and if I got one of those plastic stocks, it got a H&S replacement. I did get a 700 LTR that was outstanding. Just my 2 cents.
“But the last 5 or 6 rems I have bought over the last 15 years have been a disappointment. ”
You must be a glutton for punishment.
Yup I guess so. Kinda rude but what ever.
Guess you didn’t read the whole post. The last one which would be number 5 I think, was a LTR and was excellent. Even the trigger was a different trigger that got down to a nice 2 Lb beak just by tweaking it. Guess you don’t have one. I’m sorry little guy.
Ruger gets Marlin, Hallelujah! Perhaps Ruger will produce pistol caliber levers in 41 Mag. That is one hole in my safe that I’d love to see filled.
Well, on one hand Marlin is not dead.
On the other hand, I think about what other companies have done once they managed to acquire their competitors… In 1999, ATI, 3DFX and nVidia were all making cutting edge graphics chips. When nVidia bought 3DFX, instead of keeping them as a separate division, they destroyed them utterly- took all products off the shelf, stopped support and removed any mention of them from their website. Sad.
Hopefully, Ruger wants to preserve an equally great American firearms maker.
After looking over the court documents relating to “Exhibit Ex. H – Sturm Ruger & Company Inc.”
https://cases.primeclerk.com/RemingtonOutdoor/Home-DownloadPDF?id1=MTYxNTM4Ng==&id2=0 (pages 1251 -1419)
They not only bought the name, But
“all of Seller’s owned (i) equipment, machinery, furniture, fixtures and
improvements, tooling and spare parts and any other tangible personal property (including without
limitation consumables) located at the premises of the Business that is in any of the foregoing cases
primarily used for the ownership, operation or management of the Business (the “Owned FF&E”),
and (ii) to the extent assignable, rights to any warranties and licenses received from manufacturers
and sellers of the Owned FF&E;” (listed pages 1302-1397)
About the only thing the don’t own is the property where everything is located.
They are not going to NOT build the rifles, although they may choose to drop the Marlin badge (which I seriously doubt. The name has to much cachet)
Oh, and in case anyone is interested found on page 1263 in the aforementioned PDF above Ruger paid just $30M for Marlin, lock, stock and barrel. I would call that a Fire Sale Price.
ARTICLE 2. CONSIDERATION
Section 2.1 Consideration. The aggregate consideration for the sale and
transfer to Buyer of the Acquired Assets (the “Purchase Price”) shall be an amount equal to
Thirty Million United States Dollars (US$30,000,000) (the “Gross Closing Cash Payment”)
While I feel for the employees, as a parts supplier, my company is SOL too.
All their suppliers are left with bills to pay and maybe parts that are particular to Remington that can’t be sold elsewhere. My company has folded unless the new buyer wants to keep producing the 1100. We invented and produced the recoil system on it. We have been told nothing except being sent a filing by the bankruptcy court. Our lawyer has told us we are listed as an unsecured creditor….. SOL.
Anyone know any updates on when the company (aac specifically) will reopen? Waiting on warranty repair work since July and now haven’t even been able to get anybody on the phone or by email or IM to simply get an update on what the scoop is
Anyone know any updates on when the company (aac specifically) will reopen? Waiting on warranty repair work since July and now haven’t even been able to get anybody the past couple weeks on the phone or by email or IM to simply get an update on what the scoop is
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