Firearms Industry

Remington Set to Emerge from Bankruptcy

Creditors Take Ownership, Day-to-Day Business to Remain Undisrupted

We had been hearing rumors about the imminent demise of Remington Outdoor Company for some time before it was officially announced in March. Many were unsurprised at the news given the changes made in management, product lines, and customer support over the past several years, but it was tough to see the two-century old “Big Green” circling the drain.

“Fake News” sources cited fallout from lawsuits surrounding the Sandy Hood killings in Newtown as one of the driving factors behind Remington’s problems, despite broad protections for manufacturers. More likely, the money troubles stem from product recalls, failed product launches, and slumping sales of the few new product lines that did launch.

Before a federal judge yesterday, Remington Outdoor Company Inc gained approval for its reorganization plan – which was largely completed at the time of the original filing – that intends to cut debt and boost their cash position and cancel over $775 million of their debt. The company says that the plan was supported by more than 98% of voting Term Loan Lenders and all voting Third Lien Noteholders.

Remington plans to exit bankruptcy as early as this month, with some of its creditors, including JPMorgan Chase and Franklin Advisors receiving ownership stakes in the company in exchange for forgiving debt with Cerberus Capital Management abandoning their equity in the company.

As a result of the deal Remington will take on a new Asset Based Loan of $193 million which will fully refinance the current ABL, as well as a $55 million First-In, Last-Out Term Loan and a new $100 million Term Loan.

NRA Annual Meetings and Exhibits Kicks Off Friday in Dallas

Visit Industry Members, Attend Classes, Vote for the Board of Directors

The 147th NRA Annual Meetings and Exhibits (NRAAM) begins its four-day run today at the Kay Bailey Hutchison Convention Center in Dallas, Texas, with exhibits running Friday, May 4 through Sunday, May 6.

More than 80,000 attendees are expected to turn out to visit with over 800 exhibitors from the shooting and hunting industries. The exhibits aren’t the only draw, however, with numerous other events on the schedule, including seminars, banquets, musical performances, the annual meeting of members, and the Leadership Forum featuring speakers such as President Donald J. Trump, Vice President Mike Pence, Sen. Ted Cruz, Benghazi survivor Mark Geist, Dana Loesch, social media hotshots Diamond & Silk, as well as many others.

The NRAAM is free to all NRA members and their families (including spouses and children under 18 years old), although there are paid ticketed events, so be sure to check the schedule for details of specific events.

To keep track of exhibitors you want to visit, events you want to attend, and more, you can download the official NRAAM mobile app for Android and iOS.

Firearm Policy at NRAAM

A perennial question surrounding the NRA show is whether or not attendees can carry their personal firearms at the show, either openly or concealed. The NRAAM website states that “During the 2018 NRA Annual Meetings & Exhibits, lawfully carried firearms will be permitted in the Kay Bailey Hutchison Convention Center and the Omni Dallas Hotel in accordance with Texas law. When carrying your firearm remember to follow all federal, state, and local laws.

So, yes, you can carry your firearm, BUT… Due to the attendance POTUS and VPOTUS at the NRA-ILA Leadership Conference, the U.S. Secret Service will be responsible for event security at this portion of the event in the Arena at the Kay Bailey Hutchison Convention Center. As such, firearms and firearm accessories, knives or weapons of any kind will be prohibited in the Forum prior to and during his attendance. For more details, check out the Secret Service notice.   Continue reading

NSSF: Firearms Industry Economic Impact Rises 169% Since 2008

The total economic impact of the firearms and ammunition industry in the United States increased from $19.1 billion in 2008 to $51.4 billion in 2017, a 169 percent increase, while the total number of full-time equivalent jobs rose from approximately 166,000 to almost 310,000, an 87 percent increase in that period, according to a report released today by the National Shooting Sports Foundation, the industry’s trade association.

On a year-over-year basis, the industry’s economic impact rose from $51.3 billion in 2016 to $51.4 in 2017, ticking higher even while the industry came off-peak production years. Total jobs increased from approximately 301,000 to almost 311,000, a 3 percent increase in the same period.

“Our industry is proud to be one of the truly bright spots in our economy as an unprecedented number of Americans have chosen to exercise their fundamental right to keep and bear arms and to safely enjoy the shooting sports,” said Stephen L. Sanetti, NSSF President and CEO. “In response to that dynamic, we have increased our direct workforce by more than 7,000 in the past year alone, adding jobs that pay an average nearly $50,000 in wages and benefits. In addition, since 2008 we increased federal tax payments by 144 percent, Pittman-Robertson excise taxes that support wildlife conservation by 104 percent and state business taxes by 121 percent.”

The Firearms and Ammunition Industry Economic Impact Report: 2018 provides a state-by-state breakdown of job numbers, wages and output covering direct, supplier and induced employment, as well as federal excise taxes paid. Access the full report here.

ATF, Rock County Sheriff Host Educational Seminar in Response to FFL Burglary Uptick

Our town has experienced a number of smash-and-grab, vehicle-through-the-front-of-the-store firearm burglaries over the past year or two, so it was interesting to see this being addressed in at least some places.

The Bureau of Alcohol, Tobacco, Firearms and Explosives, along with the Rock County Sheriff’s Office, hosted an educational seminar for federal firearms licensees on February 15, at the Rock County Courthouse in Janesville, WI. The seminar was set up in response to the rash of gun store burglaries that recently occurred in southwest Wisconsin.

Despite gun shop counter-talk, there are no federal laws requiring FFLs to secure their firearms, ATF’s industry operations investigators recommend a variety of measures to reduce the number of gun store burglaries. Licensees received information on ideal methods for securing their inventories including installation of alarm systems and other physical security measures, as well as best practices in record keeping to ensure a good record of inventory is in place.

“Partnering with firearms dealers is critical in order to prevent thefts and keep our communities safe,” said Director of Industry Operations Hans Hummel, who is responsible for regulatory operations of ATF’s Saint Paul Field Division. “We want licensees to be aware that there are low-cost solutions that can be implemented. Many burglaries can be prevented with just a few safeguards in place.”   Continue reading

Happy 40th Birthday, SHOT Show!

Firearms Industry Show Celebrates 40th Anniversary

As the largest show of its kind in the industry wraps up this week, we want to congratulate the National Shooting Sports Foundation (NSSF) and the entire SHOT Show family on 40 years of helping to bring the latest innovations in the industry to market so that we can all enjoy them.

Although this year marks the 20th that the show has been held in Las Vegas (with the GunLink team in attendance for nearly half of those), wasn’t always held here. The first show was held in St. Louis in 1979 and it spent a while moving around before settling down in its current Nevada home.

The show hasn’t been resting on its laurels in those 40 years either.  The show floor itself has expanded from a mere 51,000 square feet filled by 290 exhibitors in St. Louis to more than 645,000 square feet packed by 1,660 exhibitors this year.  With that expansion also came more attendees, growing more than ten-fold from just 5,600 in 1979 to over 60.000 in 2018.  All of those exhibitors and attendees make a big impact too; last year’s show alone brought more than $88 million in non-gaming revenue to the Las Vegas economy.  Mostly spa treatments and Fiji water, surely.

An Industry that Gives Back

Las Vegas is not the only place where our industry makes a major economic impact. Firearms and ammo are an $8 billion (yes, with a B) a year industry which supports more than 301,000 jobs and makes a total economic impact of more than $51 billion. Through the Pittman-Robertson Act, the industry also enables conservation efforts that everyone can benefit from with every firearms and ammunition sale.

The good that comes from the industry does not stop there, either. SHOT Show generates millions in revenue for NSSF programs with the mission of helping “promote, protect, and preserve” hunting and shooting sports along with safety efforts.  NSSF’s Project Childsafe promotes comprehensive firearms education and safety, while their Don’t Lie for the Other Guy initiative works to prevent illegal “straw purchases” that could put firearms into the hands of prohibited persons.  NSSF also works to ensure that more generations of shooters can get involved and participate in the shooting sports through their National Shooting Sports Month each year in August.   Continue reading

SHOT Show 2018 is Just Around the Corner

What will the largest firearms industry trade show bring us this year?

Welcome to Las VegasThe biggest show of its kind in the industry is just over a month away, with the 2018 iteration of SHOT Show going on from Tuesday, January 23 through Friday, January 26 in the Sands Expo center in Las Vegas.  Not only will our team be there to cover the latest and greatest firearms and gear innovations from the show floor, we will also get to share our hands-on experiences with guns and gear again during the invite-only Industry Day at the Range from Boulder City the day before the show officially opens.

Be sure to keep an eye here on the GunLink Blog, as well as the GunLink Forums for news leading up to, during, and after the show, and follow us on our social media outlets, such as Facebook, Twitter, and Instagram for live updates, photos, video, and more. Sign up now for a free GunLink Forums account to join in the discussion during the event, share your opinions of what the past year of development is bringing to the industry, and to let us know what you want to see more (or less) of in our coverage.

Our week-long coverage of the much anticipated annual event is made possible in part by our coverage partners, who we thank for their involvement and support of new and evolving media platforms. We greatly appreciate their help in fostering the new environment which allows immediate access to the latest from the industry rather than having to wait for news and rumors to trickle through the traditional print timelines or wait longer still for products to hit shelves before laying eyes on them.    Continue reading

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