Consumer confidence in the products started to fall off. Herein lies a real problem for the company, and one that helped strike the death knoll, for it. What about the average consumer? The Model 700 is a great rifle, but trigger issues caused problems for Remington In fact, they showed no interest in the future and didn’t do much to maximize any potential.” That doesn’t give much hope that the company would make it. He also added that Franklin Templeton and JP Morgan were, “at best, lukewarm about the industry. My friend, Jim Sheppard with the Outdoor Wire, recently noted that Cerberus was not that interested in the firearms and outdoor industry.
Cerberus sold off Remington to Franklin Templeton and JP Morgan. They quickly emerged, but now, the company was burdened with a massive debt load. The lawsuits from this and Sandyhook took a toll, and Remington filed Chapter 11. Initially it seemed like a great product, until it was learned that the trigger could possibly go off on accident. Remington countered the AccuTrigger with the X-Mark Pro. Companies quickly learned that in order to compete, they needed a crisp, light, adjustable trigger system. We have referred in other stories to the impact the Savage AccuTrigger had on the firearms industry. That wasn’t the only trouble the company faced. One was to get the most mileage from the Remington brand, and two, to add a little distance from the investment company and the brand after the tragic events of Sandyhook Elementary School in 2012.
When the company branched off into some additional, Remington-branded outdoor lifestyle products, Cerberus renamed Freedom Group to the Remington Outdoor Company to do a couple of things. This made the new company one of the biggest players in the firearms game. This included Marlin, Bushmaster, DPMS, H&R, Tapco, AAC and more. Cerberus was looking to go big in the industry and started buying up other firearms and firearms-related companies, pulling it all under the banner, The Freedom Group. In 2007, Cerberus Capital Management took ownership when the company did not report a profit for several years. The original factory in Ilion, NY will shut down on Oct. It was during the late nineties and the early 2000s that Remington started to really acquire a debt load due to slumping sales. Bear with me here, we’re almost done with the musical chairs of ownership. DuPont held onto the company until 1993, when it was sold to an investment firm.
During the Great Depressions, Remington was again sold off, this time to DuPont. That changed again in 1918 to Remington UMC (Union Metallic Cartridge). In 1888, the first of many acquisitions of the company took place and the company was renamed Remington Arms, Co. That part makes the recent news even harder to take. This also made Remington one of the oldest companies in the U.S.A. The Ilion part is important, as it remains the oldest factory in the United States that still produces the original product the factory and company was founded upon. Remington and Sons was founded in 1816 by Eliphalet Remington in Ilion, New York. How did it come to this point? Seriously, what happened to Remington? Let’s take a look at what we know. But Remington as we’ve come to know them is done. Now, that’s not to say that you’ll never see a Remington again. The big news hitting the outdoor industry lately is that Remington has been broken apart and the individual properties are being sold off to different entities.
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