Remington is staring down the barrel of bankruptcy
The 200-year-old maker of firearms is besieged by more than $250m in debt because of reduced gun sales
28 July 2020 - 19:10
Remington Outdoor has filed for chapter 11 bankruptcy for the second time in two years, with plans to sell the 200-year-old maker of firearms.
The company said reduced gun sales prevented it from making money even after restructuring its finances in its first bankruptcy. Remington had $437.5m in sales last year, about half the business it did in 2016, according to court papers filed in Decatur, Alabama...
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