In addition to reducing their debt, the Chapter 11 bankruptcy gives Remington $145 million of capital that it can use with its subsidiaries. Remington plans to on using their funds for “Payments to trade partners, employee wages and other benefits, support for customers, and an ongoing high level of service to consumers.”
Gun Sales Slow Down After Trump Elected
During the Obama presidency, gun purchases caused the FBI to process a record number of background checks. Experts believe this happened because of fearmongering related to an interest in the administration to crack down on guns.
President Trump addressed the NRA and told them that he was a “true friend and champion” of gun rights. After his election, gun purchases slowed down. Many believe that it is because consumers no longer fear that they’ll lose their ability to buy a gun. The shares of Sturm, Ruger & Co., a publicly traded gun manufacturer, have fallen 14% since the beginning of 2018.