(Bloomberg) — Remington Outdoor Co. filed for bankruptcy for the second time in two years with plans to sell the 200-year-old maker of firearms.The company said reduced gun sales prevented it from making money even after restructuring its finances in its first bankruptcy. Remington had $437.5 million in sales last year, about half the business it did in 2016, according to court papers filed in Decatur, Alabama.The company owes various lenders more than $250 million, including a $12.5 million debt to Remington’s home town of Huntsville, Alabama, which put up a loan to help upgrade a manufacturing plant there.The Chapter …read more
Source:: Yahoo Finance
