ALL NEWS

Remington Arms files for second bankruptcy in two years

Jul 28, 2020, 6:29 AM
DALLAS, TX - MAY 05:  Attendees look at a display of Remington shotguns during the NRA Annual Meeti...
DALLAS, TX - MAY 05: Attendees look at a display of Remington shotguns during the NRA Annual Meeting & Exhibits at the Kay Bailey Hutchison Convention Center on May 5, 2018 in Dallas, Texas. The National Rifle Association's annual meeting and exhibit runs through Sunday. (Photo by Justin Sullivan/Getty Images)
(Photo by Justin Sullivan/Getty Images)

    (CNN) — Remington Arms, one of America’s oldest gun makers, has filed for Chapter 11 bankruptcy protection … again.

The company made the filing on Monday in the US Bankruptcy Court of the Northern District of Alabama. This is the second time in two years that the firearms manufacturer has filed for Chapter 11 — previously having filed in March 2018.

Since then, Remington had a few setbacks. In November 2019, for instance, the US Supreme Court did not stop a lawsuit brought by Sandy Hook victims’ families against the company, which manufactured the semi-automatic rifle that was used in the 2012 mass shooting at an elementary school.

And in July 2020, the Wall Street Journal reported — citing people familiar with the matter — that discussions to sell Remington to the Navajo Nation broke down.

The filing comes despite that firearms dealers across the country have reported a spike in sales, citing the unrest following police brutality protests in support of George Floyd and calls to defund the police as catalysts, according to gun industry analyst Rob Southwick, founder of the market research firm Southwick Associates Inc.

Remington was founded in 1816 in New York by Eliphalet Remington II. That makes it decades older than competitors Colt’s Manufacturing and Smith and Wesson.

According to company history, Remington II “handcrafted his first rifle barrel at his father’s forge, and carried it to Utica to have a local gunsmith fabricate it into a flintlock rifle.” That was the start of a business that led him to forge and sell his rifles to gunsmiths throughout the country.

Ariane de Vogue, Chauncey Alcorn and Aaron Smith contributed to this report

The-CNN-Wire
™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

All News

Sister Tracy Y. Browning, second counselor in the Primary general presidency, speaks during the Sat...
Waverly Golden

Saturday morning conference session makes history

During the Saturday morning session of the 192nd Semiannual General Conference of The Church of Jesus Christ of Latter-day Saints, Sister Tracy Y. Browning became the first Black woman to ever speak at a general conference.
19 hours ago
u of u student arrested...
Waverly Golden

Other paths to consider when thinking about attending college

Following the student loan forgiveness announcement, college is on everyone's mind. Dave Noriega takes an in-depth look at the alternatives.
19 hours ago
Around 1:02 p.m. this afternoon, a pickup truck with two occupants ended up in a ditch filled with ...
Waverly Golden

Pickup truck crash leaves two dead

The Utah Department of Public Safety says the occupants, a male driver and passenger sustained fatal injuries. 
19 hours ago
Firefighter Fred Woods assesses damages at Tragedy Springs (Jonathan Pierce Calfire)...
Dan Bammes

The sad history of Tragedy Spring

The Mormon Battalion historic site, high in the Sierras is in sad shape after windstorms and wildfires.
19 hours ago
The Church Office Building of The Church of Jesus Christ of Latter-day Saints is pictured during th...
Tad Walch, Deseret News

‘Any kind of abuse … is an abomination,’ President Nelson says at Saturday morning session

President Russell M. Nelson denounced abuse as a grievous sin and an abomination at the close of the Saturday morning session of the 192nd Semiannual General Conference of The Church of Jesus Christ of Latter-day Saints.
19 hours ago
Follow @amandadickson...
Amanda Dickson

Working Conference Weekend

Some of the weekends that I remember best and thoroughly enjoyed were conference weekends. Times were different, but the memories hold true.
19 hours ago

Sponsored Articles

Young woman receiving laser treatment...
Form Derm Spa

How facial plastic surgery and skincare are joining forces

Facial plastic surgery is not only about looking good but about feeling good too. The medical team at Form Spa are trained to help you reach your aesthetic outcomes through surgery and through skincare and dermatology, too.
large group of friends tohether in a park having fun...
BYU MBA at the Marriott School of Business

What differentiates BYU’s MBA program from other MBA programs

Commitment to service is at the heart of BYU’s MBA program, which makes it stand out among other MBA programs across the country.
a worker with a drill in an orange helmet installs a door in the house...
Price's Guaranteed Doors

Home improvement tip: Increase the value of your home by weatherproofing doors

Make sure your home is comfortable before the winter! Seasonal maintenance keeps your home up to date. Read our tips on weatherproofing doors.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
A paper reading IRS, internal revenue service is pictured...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Remington Arms files for second bankruptcy in two years