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Author Topic: Oldest US gun maker Remington files for bankruptcy for second time in two years  (Read 63 times)

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Oldest US gun maker Remington files for bankruptcy for second time in two years after being hit with lawsuits and sales restrictions over school shootings

Remington filed for bankruptcy this week in federal court in Alabama
It faces lawsuit from the families of victims in the Sandy Hook school massacre
Shooter used an Bushmaster XM15-E2S, an AR-15 style weapon, to kill 26
Gun sales slumped during Trump administration but hit a record high in June

Remington Arms, the oldest gun maker in the U.S., is seeking bankruptcy protection for the second time in as many years.

Despite gun sales reaching historic highs in June, the company is weighed down by lawsuits and retail sales restrictions following the Sandy Hook massacre and other school shootings.

In a Chapter 11 filing in U.S. Bankruptcy court for Northern District of Alabama this week, the nation's oldest gunmaker listed assets and liabilities of between $100 million and $500 million, and between 1,000 and 5,000 creditors.

https://www.dailymail.co.uk/news/article-8568655/Oldest-gun-maker-Remington-files-bankruptcy-second-time-two-years.html
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