One of the largest and oldest U.S. gun makers, Remington Outdoor Company Inc., filed for bankruptcy Sunday.
The plan to file for Chapter 11 bankruptcy protection, originally outlined in February, would allow Remington Outdoor Brands to remain in business and continue manufacturing guns while restructuring its debt.
Operations “will not be disrupted by the restructuring process,” Remington said when initially announcing the bankruptcy plan last month.
Remington is headquartered in North Carolina and was founded in 1816, and the company has become one of the most well-known gun makers in the world.
With increased criticism of regulation on gun manufacturing and sale, and the call for stricter gun control in the wake of recent shootings, Remington, and other companies that make or sell guns, have come under fire.
In general, the gun industry has suffered under the Trump administration. Those consumers who are driven to purchase guns are no longer fearful of more restrictive gun control with President Trump in the White House, who has been endorsed by the National Rifle Association.
Thousands of U.S. citizens have mobilized the past month, demanding stricter gun control laws after the school shooting in Parkland, Fla., in February. The mentally unstable 19-year-old shooter was able to purchase an AR-15, which he used to kill 17 people at Marjory Stoneman Douglas High School.
