Remington closing?

[Cadcom]

I think you are missing the point. They aren't a handgun mfg. They don't care about wheel guns. The AR market is historically oversaturated with cheap stuff. Why do they need to step into those games? The broader your offerings, the more stressed your assets become. Why doesn't Glock make rifles or revolvers or shotguns? Hell, they won't even make anything that isn't primarily plastic. They probably should have gotten in on the cutting edge or tricking out the bolt gun with the surge in LR shooting and PRS. That is on them. But to further stress assets by adding multiple sku's that they have no expertise or market recognition in is never the answer. Personally, I think it would be better for them to scale back their offerings and dump that money into better R&D, marketing, ee's, materials and QC's. It is better to do one thing really well than to do 50 things only meh.

I agree. To much stuff and the majority of it is lost in the shuffle to cheaper manufacturers. But what if they HAD focused on AR's or a polymer pistol that isnt junk years ago? I dont know many people that have bought anything new that Remington makes for several years now.

 

[spencer60]

Rather than starting a new thread I just thought I'd update this one.

It looks like the holding company for Palmetto State Armory is bidding on Remington's ammo business.

https://www.personaldefenseworld.com/2020/09/jje-capital-acquiring-remington-ammo/

I guess when the sale to the Navajo Nation fell through they started looking at parting-out the business.

 

[outlaw1961]

Rather than starting a new thread I just thought I'd update this one.

It looks like the holding company for Palmetto State Armory is bidding on Remington's ammo business.

https://www.personaldefenseworld.com/2020/09/jje-capital-acquiring-remington-ammo/

I guess when the sale to the Navajo Nation fell through they started looking at parting-out the business.

 

[outlaw1961]

Remington sold their ammo company to JJE capitol holdings for 65,000,000 a few days ago. Since the company is based in South Carolina it might be Palmetto State Armoury. A couple of weeks ago Palmetto hinted they were getting ready for something big

 

[CTS Tactical]

Rather than starting a new thread I just thought I'd update this one.

It looks like the holding company for Palmetto State Armory is bidding on Remington's ammo business.

https://www.personaldefenseworld.com/2020/09/jje-capital-acquiring-remington-ammo/

I guess when the sale to the Navajo Nation fell through they started looking at parting-out the business.

I heard that from my sales rep the other day but figured I wouldn't mention it. When I said something about Nikon quitting the scope business I was told I was an idiot so figured why bother. They are selling off the Ammo business trying to keep the firearm side of it afloat without having to sell.

 

[gregar]

Are we discussing capitalism?
Brad Pitts closing lines in “Killing them softly”, This is America, now give me my damn money.
Every gun or other manufacturer is susceptible to capitalism, wall street, and good ol greed. And then quality drops rapidly. Some resist better than others. Most of us here are just very familiar with the firearms industry, as cmshoot points out.

 

[CTS Tactical]

JJE Capital, Owner/CEO Jamin McCallum. Also owner of PSA.

 

[Alaskan]

Hopefully they will also sell Marlin to someone who has better quality control.

 

[Cadcom]

Remington sold their ammo company to JJE capitol holdings for 65,000,000 a few days ago. Since the company is based in South Carolina it might be Palmetto State Armoury. A couple of weeks ago Palmetto hinted they were getting ready for something big

I don’t think that deal has been finalized. I’d like to see JJE win it as they seem to be firearm oriented with PSA. Looks like Sept 24th is the day Remington picks a winner.

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.

 

[outlaw1961]

Palmetto is really coming on strong in the past 12 months. Multiple new aks, and supposedly the mp5 clone and DAGR Glock 19 clone when ever they actually hit the market