Remington Arms, the nation’s oldest gunmaker, has declared bankruptcy for the second time in as many years.
Remington first soughtbankruptcy protection in 2018after reporting nearly $1 billion in debt. Although the company exited court supervision that same year, it remained weighed down by lawsuits and retail sales restrictions following the2012 Sandy Hook school massacre.
The company is filing for Chapter 11 protection even asfirearm sales have jumpedabout 400% this year. Although the Navajo Nation had been in talks to purchase Remington, talks broke down last week, the Wall Street Journal reported. Remington has assets and liabilities of between $100 million and $500 million, according tocourt filings.
Before a surge in gun sale…
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