A legendary firearm manufacturer has filed for bankruptcy
Remington Arms Co. has declared bankruptcy under Chapter 11. One of the causes of the Company’s financial problems is the tightening of regulations as a result of a series of shootings in American schools.
For the second time in 2 years, the Company is taking advantage of the possibility to declare bankruptcy, as the previous application was filed in 2018. The financial problems of Remington Arms What continues since the tightening of laws in the USA after a series of terrorist attacks in schools.
The company indicated in the application that its assets and liabilities are between $100 and $500 million.