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Gun maker Remington files for bankruptcy

3/26/18

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from FoxNews,

3/26/18:

Firearms manufacturer Remington Outdoor Company has filed for bankruptcy protection in the face of falling sales and lawsuits stemming from the 2012 Sandy Hook Elementary School shooting, the Wall Street Journal reported Sunday night.

The Journal reported that the gun industry is facing low demand and high stock after Donald Trump’s unexpected election to the presidency in 2016. According to the paper, firearms manufacturers boosted output in the run-up to the election, expecting that a Hillary Clinton victory would lead to a boost in sales ahead of tighter gun laws.

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Gun maker Remington files for bankruptcy