Looking Really Bad This Time at Remington
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Thread: Looking Really Bad This Time at Remington

  1. #1
    Super Moderator rkittine's Avatar
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    Looking Really Bad This Time at Remington

    Although this is I believe the 5th time they have field for protection under the bankruptcy laws, this is the first time that I, as a stock holder, have received so many notices from the courts. I hope that someone bails them out again even if only to save the 700 / 1100 and 870 lines and especially Dakota Arms.

    Any rich member that wants to own a firearms manufacturing company as a hobby?

    Bob
    Robert Kittine
    Sag Harbor and Manhattan, New York

  2. #2
    Super Moderator Doom's Avatar
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    First let me say I have no direct information related to the filing and my thoughts are strictly opinion. Unfortunately I think events and timing are going to result in the liquidation of the assets this time. I doubt anyone picks up the whole Remington Outdoor Company. I suspect Dakota arms might be picked up by a private investment company working with management, hopefully not Chinese. Barnes might get picked up but personally I think it would only be for the equipment. With the Sandy Hook lawsuit allowed to go forward I’m not sure even the Remington name has much value, especially to private investment groups. This could very well turn into a bargain basement liquidation.
    "If we open a quarrel between the past and the present we shall find that we have lost the future.”
    Winston Churchill

  3. #3
    Super Moderator Doom's Avatar
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    From the WSJ

    “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.”

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  5. #4
    Super Moderator rkittine's Avatar
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    I think the same thing will happen with Dakota Arms. The ammo business is something that should be profitble and where Remington has continued to have strong sales. If you look at what Winchester did, they kept the ammo business, which was profitable and sold off the firearms section years ago.

    Bob
    Robert Kittine
    Sag Harbor and Manhattan, New York

  6. #5
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    What is your Remington stock symbol? I understand it's not publicly traded. I'd like to see it's track record.

    g

  7. #6
    Super Moderator rkittine's Avatar
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    Its preferred stock from a private offering and not listed. You have it and have a sign in to access it. Since it doesn't trade, there is nothing to watch as it does not fluctuate in value with trading, only varies based on performance, or in this case, the lack there of.

    Bob
    Last edited by rkittine; 09-16-2020 at 08:07 AM.
    Robert Kittine
    Sag Harbor and Manhattan, New York

  8. #7
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    I see. Thanks!

  9. #8
    Super Moderator rkittine's Avatar
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    I hope I recover some of my investment.

    Bob
    Robert Kittine
    Sag Harbor and Manhattan, New York

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    Good Luck.

  11. #10
    Super Moderator Doom's Avatar
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    Latest news. Looks like Remington might survive. Guess Dakota Arms goes with Rem?

    https://www.bloomberg.com/news/artic...nkruptcy-court
    "If we open a quarrel between the past and the present we shall find that we have lost the future.”
    Winston Churchill


 
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