However, the gunmaker presumably delayed the Chapter 11 filing as it worked to line up backing from other creditors.
The restructuring agreement will allow Remington to reduce some $700 million of its consolidated debt, according to the company, as well as inject a contribution of $145 million of new capital into its operating subsidiaries. The Parkland, Fla., shooting that killed 17 has spurred an intense campaign for gun control, including marches across the country this past weekend.
Remington was once among the nation's largest gun and ammunition makers-it was founded in 1816, when there were only 19 USA states. The massacre also led to huge anti-gun rallies by more than 1 million people nationwide on Saturday.
"Remington Arms is an iconic business in our region and has employed generations of families for over two hundred years". Although the company is now headquartered in North Carolina, the Ilion facility is considered one of its most profitable manufacturers.
Remington is also still facing a class action lawsuit over the Sandy Hook shooting in Newtown, Connecticut. Historically, gun sales drop under Republican leadership because there is less fear among gun owners of stricter gun legislation supported by Democrats.
SGB Media will continue to monitor Remington's reorganization, as well as the overall trend of gun sales amid its elevated position in the national debate. Remington has filed for bankruptcy. We will emerge from this process with a deleveraged balance sheet and ample liquidity, positioning Remington to compete more aggressively and to seize future growth opportunities.
"Remington's fortunes took a hit after the election of Donald Trump, a self-proclaimed "true friend" of the gun industry".
Dropbox , based in San Francisco and founded 11 years ago, began as a free service to store large files like photos and music. The company sold 36 million shares, and a source told the media that the offering was 25 times oversubscribed.
A battery of 3300mAH is given in Samsung Galaxy J7 Prime 2 and the handest measures 151.7x75x8 and weighs 170 grams. The phone is a dual sim phone and connectivity options of the phone include Wi-Fi, GPS, Bluetooth v4.1, 3G, and 4G.
Davies on Wednesday reported in The Telegraph Joshua (20-0 boxing) is someone the UFC wants to sign to a multi-fight deal. World heavyweight boxing champion Anthony Joshua is being targeted by UFC, the world's premier mixed martial arts firm.
The British heavyweight produced a career-best win as he blasted out Browne with a huge left hook in the sixth round at The O2 . Right when Kellerman began questioning if allowing the fight to continue was a good idea, things took a brutal turn in Round 6.
American business groups have warned Trump his aluminum and steel tariffs could hurt the US economy and disrupt exports. China's ambassador to the US, Cui Tiankai, said that China would use "all necessary measures" to retaliate.
Another concern remains how Chinese President Xi Jinping himself will respond as he consolidates power . Global stocks have plummeted as fears rise that the confrontation could provoke a damaging trade war.
Investigators search Cambridge Analytica's London offices
This led the Ministry of Electronics and Information Technology to put a strong statement about Facebook and the use of its data. That was possible under Facebook's rules at the time, and Kogan this week claimed he was being unfairly blamed.
Desire peaceful ties with India, want to sort diplomats'
Indian officials privately said that life had become "very difficult" for diplomats at the Indian High Commission in Islamabad . Army Aviation and Pakistan Air Force's aeroplanes showcased scintillating aerobatic skills on the occasion.
Zuckerberg says sorry to Britons with newspaper apology ads
It illicitly obtained information from as many as 50 million Facebook profiles by abusing Facebook's data-sharing features. The letter concludes by thanking users for "believing" in the Facebook community: "I promise to do better for you".
'Black Panther' Is the Top Grossing Superhero Movie Ever
Black Panther's box office success is all the more noteworthy in the context of the Marvel blockbuster it is poised to unseat. By doing so, the 2018 Marvel film will become the sixth highest-grossing movie ever to release domestically.
Netflix announces changes to Season 2 of 13 Reasons Why
The study also showed that parents agreed that the show brought up important topics, but they wanted more resources added . But it also met some criticism and concern from a number of mental health experts and viewers following its premiere.