What I do see is Remington declaring bankruptcy and dumping their pension plan. The story indicates a bit of unease in Ilion, NY where the Remington factory is the largest employer in Herkimer County. The dismantling of one of the nation’s most renowned firearms manufacturers formally began Tuesday. The legendary Remington shotgun worked well and was high quality. Nonetheless, they will be getting the non-Marlin firearms business which would include Remington itself and presumably Dakota Arms. Roughly 700 people worked at the plant recently, including the 200-250 who worked on the Marlin line, which was bought, at auction, by Sturm, Ruger & Co. Italia says Remington Arms will be strictly an outdoor/sporting company, and will not make military weapons. Remington Arms, the country’s oldest gunmaker, is going on the auction block as early as next month and may be sold as a complete ongoing company or parceled out. After Remington Arms filed for Chapter 11 bankruptcy on Monday, a memo was sent to employees, saying the company would try to find a buyer or go to auction in September. Crazy Otto’s Empire Diner was renovated by the Tranter family. Remington Arms is the oldest gunmaker in the country and founded its central New York plant in 1816. Email. In our article published a few days ago about the Remington assets being divided Roundhill Group, LLC was mentioned as one of the successful bidders. Follow. The author owns a Model 700 VTR and loves it. For 200 years, Remington has been one of the most famous names in guns, supplying arms to soldiers in the civil war, both world wars and to generations of gun enthusiasts. Answered October 29, 2020 - Quality (Former Employee) - 1816 Remington circle, Huntsville al 35824. I would like to see Remington Arms "recreate" themselves with significantly fewer products but be all new era products. Check out the Model 700 VTR at Cabela’s. Sales of Remington’s ammunition- and weapons-manufacturing business, the Remington brand and others will bring in at least $155 million to be applied against the company’s debts. -- The Remington Arms factory in Ilion, which employs more than 700 people, will be sold to an investment company as part of a plan to break up the troubled gun maker and sell it off in pieces. A bankruptcy court judge has approved the sale of Remington's non-Marlin firearms business, including its gun factory in Ilion, to Roundhill Group LLC. The owner, Scott Tranter, grew up in Massachusetts, went to culinary school, and owned and operated several restaurants, many being in California. Winchester fans will likely buy Remington if they can't afford the Browning and if they don't like spending the same $$ for Ruger, a lesser gun. Remington filed for bankruptcy protection in July and has been open to selling its … A new name taking over the famed firm instantly fueled speculation, most of it centered on a similarly named company that specializes in land development and real estate. Today it was made official that they have purchased Remington Firearms, and that the purchase includes “all long guns, shotguns, pistols, the firearms manufacturing facilities, museum … I don't see Remington going completely out of business. Mired in debt and struggling to stay afloat, Remington Arms was forced into bankruptcy, wrestled onto the chopping block, and reduced to pieces of … What Edwards said is that Roundhill believes in the workers and the product, and now, the skilled workers at Remington have no barriers in the way of getting back to … The story about America’s oldest gunmaker continues. The backup bidder for this part of the assets includes Century Arms. Remington Outdoor Co. filed for bankruptcy for the second time in two years with plans to sell the 200-year-old maker of firearms. Unfortunately, this will be happening with a lot of older companies. The bones of bankrupt Remington Arms continue to be picked clean as Sturm, Ruger announced it was acquiring the gunmaker's Marlin Arms for $30 million. Founded in 1816 by Eliphalet Remington in Ilion, New York as E. Remington and Sons, it was one of the oldest gun makers in the US and claimed to be the oldest factory in the US that still made its original product. 2. They will probably restructure, drop some lines and close a plant or two. Remington Outdoor Company informed RSR at the SHOT Show that they will be focusing on their core hunting and shooting brands AAC, Barnes, Marlin and Remington. Vista Outdoor, the new owner of the Remington ammunition plant in Lonoke, is recalling workers and getting production at the facility geared up to meet nationwide demand. It’s interesting that there is no outrage over “Remington caving to anti gun politicians” like happened when Colt temporarily halted civilian rifle sales to fulfill a huge over seas military contract. Remington is one of the oldest U.S. gun makers — founded in 1816 — with sales that reached $1.3 billion in 2013, but its corporate structure was complex. Remington Outdoor Co., the nation's oldest gun maker, will attempt to file a prepackaged reorganization plan with the U.S. Bankruptcy Court of Delaware under Chapter 11 of the bankruptcy code. The venerable arms manufacturer is not going out of business, and the company will continue to produce guns after it’s gone through the bankruptcy process. Remington Arms clears everything off their plate in attempts to get back into the swing of things without robbing Peter to pay Paul. 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. More:Remington Arms workers in Ilion to protest again this weekend More:GALLERY: Remington Arms factory workers, supporters hold rally Wednesday in Ilion More:Remington Arms terminates 585 employees in Ilion When asked about the status of the federal firearms license application, one of the new owners, Richmond Italia, of Roundhill Group LLC, said in an email, “All we … Advance Voting Allegany County Business Cattaraugus County Crime Local Nation State Western New York World Close Remington Arms has laid off 585 workers at its Herkimer County plant. July 28, 2020 at 3:43 p.m. UTC. Out of Business Remington Outdoor Company, which declared bankruptcy in … I hate to see any gun company go out of business, well, other than two I would like to see gone… We will see how this plays out if true. You are currently reading "How Cerberus Drove Remington Out Of Business", entry #21165 on The Captain's Journal.This article is filed under the category(s) Firearms,Guns and was published May 5th, 2019 by Herschel Smith. The company said … Remington … Remington Arms Company, LLC is an American manufacturer of firearms and ammunition, and was the largest rifle manufacturer in North America according to the ATF statistics in 2015. The 700 action is the most popular action in history (not better, just more popular) 3. At the top of the employees’ checks, the name “Remington Arms” was printed, along with the address of the company’s new facility at 1816 Remington Circle SW in Huntsville. Founded in 1816, the company made firearms that were used in the American Civil War, World War I, … Remington's Advantages 1. 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