US small arms producer Remington to file for bankruptcy

February 14, 2018 9:15 am janes.com
US small arms producer Remington to file for bankruptcy

US rifle and shotgun manufacturer Remington Outdoor Company has announced that it will pursue a comprehensive debt restructuring agreement with its creditors to allow a planned ‘Chapter 11’ bankruptcy in order to help reduce the company’s significant debt burden. According to its third-quarter 2017 results, Remington reported over USD950 million in long-term debt. In a press release the company stated that its operations would not be disrupted by the process.…

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