MADISON, N.C. — Remington, the gun maker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it seeks Chapter 11 bankruptcy protection.
The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.
The company was cleared of any wrongdoing in the shooting, but investors repulsed by the massacres distanced themselves from the company's owner, investment firm Cerberus Capital Management. Cerberus acquired the gun maker in 2007, just when gun sales began to skyrocket.
Firearm background checks, a reliable barometer of gun sales, had risen steadily for at least a decade.
http://www.nbcnews.com/news/us-news/beleaguered-gun-maker-remington-files-bankruptcy-n847316
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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