Remington files for bankruptcy
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Remington, the two-century-old U.S. gun manufacturer, has filed for bankruptcy protection.
The move—which Remington predicted last month—was revealed Sunday on the website of the United States Bankruptcy Court in Delaware, which listed Chapter 11 filings for Remington’s various businesses. The site did not include any details, and the company has not yet made an official announcement.
Remington told investors Friday that it had a negative operating cash flow of $7.4 million. Its 2017 revenues totalled $603.4 million, down just over 30% from the previous year...http://fortune.com/2018/03/26/remington-bankruptcy-guns-firearms/
