Posted: Mar 26, 2018 7:18 pm
hackenslash wrote:Calilasseia wrote:Meanwhile, this just turned up ...
Remington files for bankruptcy ...Remington Outdoor Co Inc, one of the largest U.S. makers of firearms, filed for bankruptcy protection on Sunday to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control.
The company’s chief financial officer, Stephen Jackson, said in court papers that Remington’s sales fell significantly in the year before its bankruptcy, and that the company was having difficulty meeting requirements from its lenders.
Remington, America’s oldest gunmaker, announced in February it would reduce its $950 million debtload in a deal that will transfer control of the company to creditors. The company plans to wrap up its bankruptcy as soon as May 3, according to court papers.
Makes one wonder how Remington managed to rack up so much debt in a country where the fetish for guns has long ago transcended the pathological ...
Somebody on twitter suggested we should send Remington thoughts and prayers...
