Remington Arms filed for bankruptcy on Monday, its second restructuring since 2018.
Prior to filing for Chapter 11 bankruptcy protection, the firearms manufacturer had been in talks with the Navajo Nation about a potential sale, but the negotiations fell through. A person with knowledge of the matter told The Wall Street Journal that Remington's firearms and ammunition businesses could now be sold off separately. Gun sales are up in the United States, with the FBI conducting a record number of background checks for licenses in June, the Journal reports.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
'Voters know Biden and Trump all too well'Instant Opinion Opinion, comment and editorials of the day
-
Is the Gaza war tearing US university campuses apart?Today's Big Question Protests at Columbia University, other institutions, pit free speech against student safety
-
DOJ settles with Nassar victims for $138MSpeed Read The settlement includes 139 sexual abuse victims of the former USA Gymnastics doctor
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
