U.S. gun maker Remington reportedly taking steps toward bankruptcy filing

by Victor Morton  |  published on February 9, 2018

One of the biggest U.S. gun manufacturers is taking steps toward filing for bankruptcy, according to Reuters news service.

Remington Outdoor Company Inc. has “reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy,” Reuters reported Thursday evening, citing “people familiar with the matter.”

According to those sources, the debt-ridden company missed a payment on those obligations this week and is seeking “debtor-in-possession financing” that would let the company continue operations once it went bankrupt.

But that may be difficult.

According to Reuters, some credit funds and banks are balking at the move because one of the company’s guns was used in the Sandy Hook school massacre in Connecticut.

No comments yet - you can be the first!

Comments are closed.


All Things Gun Related

Whether you’re into AR-15s, AKs, carbines, shotguns, self-defense pistols, or hunting rifles, American Firearms Review will provide you with the most up to date product reviews, news, and everything else you need to know about firearms and accessories. Join over 1,000,000 avid gun owners who trust American Firearm Review for their daily dose of Second Amendment news and reviews.

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.