Fog/Mist 51°
Tag:

Cerberus Capital Management

Business
Remington, Maker Of Rifle Used By Newtown Shooter, Files For Bankruptcy Remington, Maker Of Rifle Used By Newtown Shooter, Files For Bankruptcy
Remington, Maker Of Rifle Used By Newtown Shooter, Files For Bankruptcy Remington, a rifle company founded in Utica, N.Y. 202 years ago, filed for bankruptcy protection on Sunday, March 25 due to declining sales. One of its rifles was used in the notorious school shooting at Newtown in 2012. The shooting at Sandy Hook Elementary School in left 26 people dead, including 20 children. In its Chapter 11  filing in Delaware federal court, Remington said it was $100 million to $500 million in debt and hoped to continue to operate while under bankruptcy protection. It estimated its assets were as between $100 million and $500 million, according to this report.  Now …

SHARE

by Jon Craig