Remington, Centuries-Old Gun Maker, Files for Bankruptcy as Sales Slow
- 6 years ago
Remington, Centuries-Old Gun Maker, Files for Bankruptcy as Sales Slow
By MATTHEW HAAGMARCH 25, 2018
Remington Outdoor, one of the oldest firearm manufacturers in the United States, filed
for bankruptcy protection on Sunday amid mounting debt and declining sales.
After 20 children and six adults were killed in 2012 at Sandy Hook Elementary School in Newtown, Conn., public outrage zeroed in on Remington after the authorities reported
that the gunman had used an AR-15-style rifle made by the company.
The gun maker had said last month it was nearing a bankruptcy filing, which it made on Sunday in federal bankruptcy court in Delaware.
Under Cerberus, Remington’s sales initially boomed as total gun sales in the United States grew.
The company expected a similar bump in sales if Hillary Clinton had won the presidential election in 2016
because of her possible pursuit of gun control legislation.
A version of this article appears in print on March 26, 2018, on Page B6 of the New
York edition with the headline: Remington Files for Bankruptcy as Sales Slow.
By MATTHEW HAAGMARCH 25, 2018
Remington Outdoor, one of the oldest firearm manufacturers in the United States, filed
for bankruptcy protection on Sunday amid mounting debt and declining sales.
After 20 children and six adults were killed in 2012 at Sandy Hook Elementary School in Newtown, Conn., public outrage zeroed in on Remington after the authorities reported
that the gunman had used an AR-15-style rifle made by the company.
The gun maker had said last month it was nearing a bankruptcy filing, which it made on Sunday in federal bankruptcy court in Delaware.
Under Cerberus, Remington’s sales initially boomed as total gun sales in the United States grew.
The company expected a similar bump in sales if Hillary Clinton had won the presidential election in 2016
because of her possible pursuit of gun control legislation.
A version of this article appears in print on March 26, 2018, on Page B6 of the New
York edition with the headline: Remington Files for Bankruptcy as Sales Slow.