Remington secures funding to file Chapter 11 BAE Systems adds financing deal to Malaysian Eurofighter offer

February 14, 2018 8:15 pm defenseindustrydaily.com
Remington secures funding to file Chapter 11  BAE Systems adds financing deal to Malaysian Eurofighter offer

Americas Firearms manufacturer Remington announced Monday that it has reached a deal with creditors that will allow it to file for bankruptcy to slash its $950 million debtload. The agreement grants Remington $145 million in bankruptcy financing to fund the company through the Chapter 11 process. Remington plans to file bankruptcy in US Bankruptcy Court in Delaware, seeking to write off about $700 million in debt. Business operations including employee…

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