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Thread: Remington update

  1. #1
    Join Date
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    Remington update

    Many of you have probably heard that Remington is in financial trouble again (or still), and that there are buyers looking to take them over. Depending on who becomes the new owner, that may be a good thing or it may be a bad thing.

    The big news about Remington is that their long-time professional shooter, Travis Tomasie, is no longer with Remington. His last day with Remington was June 12. Those who have been around long enough will probably recall that Travis was the head of the ParaUSA shooting team; he moved over to Remington when they bought out ParaUSA. I have met Travis and spoken with him at several SHOT Shows. In addition to being a fantastic shooter, he is also a gentleman and a genuinely nice person.

    At this point, Travis reports that he is evaluating his options, and focusing on getting his own training operation up and running. I can't imagine anyone better to train with, so stay tuned. I have asked him to keep us in the loop, and we'll post updates when we receive them.

    I hope you'll all join me in wishing Travis the best in whatever life has in store for him.
    Hawkmoon
    On a good day, can hit the broad side of a barn ... from the inside
    Likes (2) :
    MuyModesto (5th July 2020), Rick McC. (4th July 2020)


  2. #2
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    Quote Originally Posted by Hawkmoon View Post
    I hope you'll all join me in wishing Travis the best in whatever life has in store for him.
    Hear-hear. I'm sure Mr. Tomasie's talents will find an appropriate use, either with a different manufacturer or with an operation of his own.
    Too many people miss the silver lining because they're expecting gold.
    M. Setter

  3. #3
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    Quote Originally Posted by Spyros View Post
    Hear-hear. I'm sure Mr. Tomasie's talents will find an appropriate use, either with a different manufacturer or with an operation of his own.
    I’ll second that, and wish him all the best!
    "Sights are for the unenlightened."

    Rick

    IDPA Certified Safety Officer

  4. #4
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    Remington has filed for bankruptcy:

    https://www.barrons.com/articles/gun...cy-51595956272

    If you do a bit of Internet sleuthing, what you'll find is that the situation with Remington is very similar to what beset Colt a few years ago. When Cerberus bought Remington, Cerberus didn't really buy Remington. Instead, they set up a holding company that is a separate entity. Then they made the buy under provisions that allowed the entities to borrow from each other. The holding company bought Remington in a heavily leveraged deal (meaning they used borrowed money). Once the deal was done, the holding company took all the cash out of Remington and transferred the debt from the leveraged buyout to Remington.

    The net result was that Remington was left with massive liabilities not of their own making, and their assets had been [legally] stolen. They were in a deep hole and there was no way they could possibly dig their way out.
    Hawkmoon
    On a good day, can hit the broad side of a barn ... from the inside

  5. #5
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    That is just sad. May be "legal" but it is wrong in my opinion. I'll never truly understand the business world.
    Likes (2) :
    MuyModesto (30th July 2020), Rick McC. (29th July 2020)


  6. #6
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    Colt’s been shafted exactly like that a few times now.
    "Sights are for the unenlightened."

    Rick

    IDPA Certified Safety Officer

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