Remington, builder of a purloin used in a Sandy Hook propagandize shooting, goes bankrupt

U.S. gun builder Remington Outdoor Company has filed for failure protection, after years of descending sales and lawsuits tied to a Sandy Hook Elementary School massacre.

Records from a failure justice of a district of Delaware uncover that a association filed late Sunday.

Remington had in Feb reached a understanding with lenders to revoke a debt by about $700 million US and supplement about $145 million in new capital. But that usually bought time for it to find Chapter 11 failure protection.

Remington creates a Bushmaster AR-15-style purloin that was used in a Sandy Hook sharpened in Connecticut that left 20 first-graders and 6 educators passed in 2012. The association was privileged of indiscretion in a shooting, though investors distanced themselves from a company’s owner, financier Cerberus Capital Management.

Article source: http://www.cbc.ca/news/business/remington-bushmaster-guns-bankrupt-1.4592970?cmp=rss