Remington Outdoor Company Inc., has reportedly reached out to a number of banks and credit investment funds looking for help on the financing front that will ultimately allow them to file for bankruptcy.
According to Reuters, Remington – one of the outdoor industry’s largest U.S. firearms maker – has been working with investment firm Lazard Ltd (LAZ.N) to think up with a strategy for restructuring its $950 million debt.
Like most in the gun industry, Remington’s sales have dipped because there is no longer fear that guns will become more heavily regulated by U.S. government. President Trump has made it abundantly clear that he never plans on impeding “the right of the people to keep and bear arms.”
Of course, we’ll keep you updated as more details become available regarding Remington’s future.