Remington Files for Bankruptcy

Remington Outdoor Co. has officially filed for Chapter 11 bankruptcy amidst declining sales. In the first three quarters of 2017, Remington's sales fell an astounding 27.5%. As a result of the bankruptcy, Cerberus Group, Remington's parent company (formerly known as Freedom Group) will no longer own the 200 year old Remington Outdoor Co.

Wahba, Phil. “Gunmaker Remington to File for Bankruptcy Protection as Sales Slide.”Fortune, 12 Feb. 2018, fortune.com/2018/02/12/remington-guns-chapter-11-bankruptcy/.