Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show.
The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remingtons brand and trademarks along with parts of its ammo and accessories business including an Arkansas ammunition factory.
Other buyers include outdoor-gear retailer Sportsmans Warehouse, which will acquire the Tapco brand of gun parts and accessories, and Nevada-based gunmaker Franklin Armory, which is snapping up Remingtons Bushmaster rifle brand, records show.
The sales are expected to bring in at least $155 million that will be applied to Remingtons debts, The Wall Street…
Read the full article at: https://nypost.com/2020/09/28/bankrupt-gunmaker-remington-outdoor-to-be-sold-in-pieces/
