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August 31, 2020, 12:53 AM | #1 |
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No ammo from Remington, say it ain't so!!!!!!
A pal whose comments I respect has told me tonight that Rem has mothballed the Loanoke ammo factory, and that the shotshell line and centerfire rifle Core-Lokt line is no more! I'd heard/read they were having money trouble (again) but seems as if they could sell all the ammo they wanted given the current state of affairs.
Whose got more details? |
August 31, 2020, 01:09 AM | #2 |
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This is their second bankruptcy. In the face of unprecedented demand... Points to far bigger problems in operating the company.
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August 31, 2020, 01:29 AM | #3 |
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People are wanting to sell a kidney to buy ammo. If Remington Ammo is having difficulty making ends meet it points to skimming off the top before and after sales.
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August 31, 2020, 02:51 AM | #4 |
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No skimming. The Freedom Group saddled them with a huge debt when they spun them off a few years back. High volume businesses like ammo manufacturers rely on lines of credit to order supplies to keep operating, so those operations are more heavily affected by their cash shortage.
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August 31, 2020, 08:57 AM | #5 |
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They will be auctioning off the entire company in parts mid-September. Current info suggests that the Ammo plants and the Barnes Bullet division will go as a unit and have several interested bidders. Somehow I do not think the Ilion facilities will be that desirable due to possible EPA cleanup costs; but the plants in NC and AL are new, so hopefully they will garner some interest
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August 31, 2020, 09:09 AM | #6 |
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Companies run by bean counters, this sometimes happens. Company I worked for years ago closed up with a plant full of work to do. Bean counter/owner's son ran the company, only took him a couple years to run it into the ground.
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August 31, 2020, 09:50 AM | #7 |
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That's the old adage about "Rags to Riches to Rags" with mutli-generational family-run companies
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August 31, 2020, 11:52 AM | #8 | |
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Quote:
And then theres this: https://www.arkansasonline.com/news/...aded-20200405/
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August 31, 2020, 02:28 PM | #9 | |
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August 31, 2020, 06:59 PM | #10 |
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Freedom Group's bean counters, take the money and run..... It's what they do.
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August 31, 2020, 09:56 PM | #11 |
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That happened to me once as well, I always thought the right size company was about 200 people, run by the original owner and never let the stock go public.
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September 1, 2020, 12:01 AM | #12 |
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they just started in the last year selling a limitied assortment of ammunition in a box with the PETERS brand name again.
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September 2, 2020, 01:07 AM | #13 |
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OK
Yeah I get it, they have money problems, again. One poster has a hearsay report there are cars in the parking lot.
My question however ........"is Loanoke producing ammo or not?" |
September 2, 2020, 06:05 PM | #14 | |
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However, if the plant is open 24 hours a day, the somebody should give them a call.. Phone: (501) 676-3161
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September 3, 2020, 09:55 AM | #15 |
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"However, if the plant is open 24 hours a day, the somebody should give them a call..
Phone: (501) 676-3161" Done!!. The plant is operating as we speak. Last edited by thallub; September 3, 2020 at 10:08 AM. |
September 3, 2020, 09:53 PM | #16 |
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The Lonoke factory is still open and operating. However quite a few people have been laid off. There is a pending purchase offer that expires September 27th. If it is doesn't go through, the plant will likely close.
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September 3, 2020, 11:10 PM | #17 |
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I was by the plant this afternoon. The parking lot was about 2/3 full. The grounds were still well kept. I heard a few weeks/months ago they had closed down the 3rd shift rimfire line. At its peak the parking lot had been at overflow levels.
Mark(BourbonCowboy) appears to have more recent financial info regarding their future than I do. |
September 3, 2020, 11:13 PM | #18 |
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One of my teachers has a parent who works there - until being recently laid off.
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September 14, 2020, 10:48 AM | #20 |
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Yeah...just heard about that bid. Supposedly, the bidding war closes on the 19th. Curious to see what kind of merger if any PSA and Remington will have
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September 14, 2020, 02:57 PM | #21 |
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I don't know whats going on with Remington but I sure wish they would start making Yellow Jacket 22 ammo again. I'm down to just a couple of boxes now.
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September 14, 2020, 04:10 PM | #22 |
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The first stalking horse bid for the ammo and bullet business was from the parent holding company of Palmetto State Armory for $65,000,000.
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September 14, 2020, 06:27 PM | #23 | |
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