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Remington filed for bankruptcy in March 2018, [32] and exited bankruptcy on May 17, 2018, less than two months later. The company's quick exit was due to a pre-approved restructuring plan supported by 97% of its creditors, which canceled all shares of common stock issued before the bankruptcy proceedings, and the issuance of new shares to ...
Remington filed for Chapter 11 bankruptcy protection in March 2018, having accumulated over $950 million in debt. Remington exited bankruptcy in May, less than two months after filing for protection under Chapter 11 laws. Remington's quick exit from bankruptcy was due to a pre-approved restructuring plan that was supported by 97% of its creditors.
Remington Outdoor Co. and its subsidiaries filed for bankruptcy protection in 2018, citing slumping sales as well as legal and financial pressure after the Sandy Hook school shooting that killed ...
America's oldest gunmaker, Remington Outdoor, filed for Chapter 11 to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control. Fred Katayama reports.
In December 2007 Remington Arms Company purchased Marlin. [6] Remington announced in April 2008 that it would close the Gardner manufacturing plant by the end of 2008 affecting 200 workers. [7] In March 2010, Marlin announced that it would close its North Haven plant, and move the work to Remington plants in Ilion, New York, and Mayfield, Kentucky.
The Remington family and their successors – DuPont owned the company for many years – made many different products over the last 200 years, but sporting firearms were the bedrock offering.
On July 28, 2020, Remington Outdoor Company filed for Chapter 11 bankruptcy protection. [11] Vista Outdoor purchased Remington's ammunition plants and brands at auction in September 2020. [ 12 ] [ 13 ] Chris Metz, Vista Outdoor's chief executive officer, said of Remington's ammunition plant in Arkansas that "during the bankruptcy the plant was ...
Family. Brown, 59, grew up across the street from Remington Arms, raised on his parents’ Remington paychecks. He graduated from the Ilion high school in 1982 and went to work at the factory in 1995.