Judge to Rule on Remington Bankruptcy Sale

posted on September 28, 2020
If the United States Bankruptcy Court of the Northern District of Alabama approves documents submitted on Sunday, Sept. 27, Remington Outdoor will not escape its latest bankruptcy filing intact.

As presented to the court, Ruger would take over Marlin firearms, Vista Outdoor gets Lonoke ammunition, and Sierra Bullets gets control of Barnes. In addition, Bushmaster goes to Franklin Armory Holdings, DPMS, H&R, AAC, and Parker all would become part of JJE Capital Holdings—owner of Palmetto State Armory—and the nation’s oldest gunmaker, Remington Arms, transfers to Roundhill Group.

The moves include all assets, both intellectual and physical, including manufacturing facilities, trademarks and patents. The sale starkly contrasts the bankruptcy protection Remington Outdoor filed in 2018, in which it emerged in two months after shedding $775 million in debt without sacrificing any properties.

Vista Outdoor Chief Executive Officer Chris Metz reassured enthusiasts if the sale is approved Remington’s legendary ammo is not going away. “Remington ammunition and accessories have a storied role in America's sporting heritage, with a legacy dating back to 1816…We are excited and honored to add the iconic Remington brand and green box to Vista Outdoor's portfolio of ammunition brands, and Remington accessories to our portfolio of Hunting and Shooting Accessories. The Remington brand is beloved by hunting and shooting sports enthusiasts everywhere and we look forward to restoring it to greatness by leveraging Vista Outdoor's scale, manufacturing infrastructure, distribution channels and Centers of Excellence.”

The Wall Street Journal reports the sale of all the brands and properties combined will, “…bring in at least $155 million to be applied against the company debts.” A July Washington Post article put the company’s current financial situation in perspective, though, indicating it has a total debt that may be as high as $500 million.

All purchase prices were not available at press time, although Vista Outdoor announced it has agreed to pay $81.4 million (gross) for the assets it seeks, subject to certain customary closing adjustments. New York’s WIBX radio reports the current offer for the Remington firearm assets, Ilion factory and Tennessee barrel-making facility came in at $13 million.



Kel-Tec Weapons
Kel-Tec Weapons

Firearm Companies Support Ukraine With Donations

Following the Russian invasion of Ukraine, a number of firearm, ammunition and accessory companies stepped up to support the embattled nation, sending donations of guns, ammunition, optics and cash.

Sniping In Ukraine

The Russian invasion of Ukraine has seen a proliferation of snipers—equipped with a variety of rifles—on both sides. Here, one of the world’s foremost authorities on the subject of military sniping takes a look at the combatants, along with their arms and ammunition.

Preview: KORE Essentials Garrison G1

The Garrison G1 is a 1¾"-wide tactical gun belt rated to support up to a 10-lb. load.

Silencer Central Holds New HQ Grand Opening

Silencer Central held a grand opening of its new headquarters building in Sioux Falls, S.D., on June 28.

The Armed Citizen® July 4, 2022

Read today's "The Armed Citizen" entry for real stories of law-abiding citizens, past and present, who used their firearms to save lives.

2022 Accessory Of The Year: Mantis Blackbeard

American Rifleman is pleased to announce the 2022 Accessory Of The Year Award goes to Mantis.


Get the best of American Rifleman delivered to your inbox.