“Directors have determined that it is advisable and in the best interests of the Company that the Company file, or cause to be filed, a Voluntary Petition commencing the Chapter 11 Case,” the bankruptcy filing says.
Remington had announced it would file for bankruptcy in February, just two days before a shooting at a Parkland, Florida high school killed 17 people and reignited a national debate on gun control.
Remington Outdoor Company announced they would file for Chapter 11 bankruptcy protection, but stay in business during the process.
AAP
The restructuring agreement will allow Remington to reduce some $700 million of its consolidated debt, according to the company, as well as inject a contribution of $145 million of new capital into i…
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