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Bushmaster AR-15 gun maker Remington files for bankruptcy

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U.S. gun maker Remington Outdoor Company has filed for bankruptcy coverage, after years of falling gross sales and proceedings tied to the Sandy Hook Elementary School bloodbath.Records from the bankruptcy court docket of the district of Delaware display that the corporate filed past due Sunday.Remington had in February reached a maintain lenders to cut back its debt through about $700 million US and upload about $145 million in new capital. But that simplest purchased time for it to hunt Chapter 11 bankruptcy coverage.Remington makes the Bushmaster AR-15-style rifle that used to be used within the Sandy Hook taking pictures in Connecticut that left 20 first-graders and 6 educators lifeless in 2012. The corporate used to be cleared of wrongdoing within the taking pictures, however buyers distanced themselves from the corporate’s proprietor, investor Cerberus Capital Management.

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