The oldest gun maker of America Remington has filed for bankruptcy after being in the business for over 200 years.
The Chief Financial Officer of Remington outdoor company, Stephen Jackson, said that the sales of the company have fallen drastically in the last year. This was also mentioned in the court papers that were filed during the weekend.
After the Florida School shooting last February, there has been plenty of pressure from the folks for a greater gun control. Just one day after the incident, thousands of people had taken to the streets to take part in the anti-gun protests that took place in most of the cities across America.
Remington was founded in 1816. This largest gun maker in America owns some of the popular firearm brands like Bushmaster and Marlin.
The reputation of the company was really affected by the shooting at the Sandy Hook Elementary School in 2012. This was the shooting were Adam Lanza used Bushmaster AR-15 type rifle to kill 6 staff and 20 children.
Remington is still facing legal action from the victims’ families. There were also attempts made to sell the company after a few months of the murders. But, all this was in vain. The company has also faced issues with many of its gun models including the Model 700 rifle.