Remington, founded in 1816, reported a negative operating cash flow of $7.4 million and $603.4 million of revenue in 2017, down over 30 percent from one year prior. Under the bankruptcy restructuring, Cerberus Capital, Remington’s private equity owner, would cede equity to creditors in exchange for canceling debts.
Along with other gunmakers, Remington has seen its sales fall under President Donald Trump as anti-gun lobbying has intensified.
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