Maybe bankruptcy will protect Remington from its victims.Remington Outdoor, one of the US’s biggest gunmakers, has filed for bankruptcy protection as it struggles against a mountain of debts and falling sales.
The 202-year-old company, which made the Bushmaster AR-15-style rifle used in the Sandy Hook shooting in Connecticut that left 20 first-graders and six teachers dead , filed for chapter 11 protection in Delaware bankruptcy court on Sunday.
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The company plans to reduce its debts by transferring control of the firm to its creditors.
Gunmakers have suffered since the election of Donald Trump, who describes himself as a “true friend” of the industry, because gun enthusiasts typically buy more firearms when they fear that politicians might be about to bring in tighter controls. In the first nine months of Trump’s presidency, Remington’s sales declined by 27.5%.
“They call it the Trump slump,” said Robert Spitzer, a professor at the State University of New York and expert on the economics of guns.
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Remington is being sued by the parents of the Sandy Hook victims in the Connecticut supreme court.
Guardian
...but hey, do what you want...you will anyway.
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