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No guns from Remington

For two centuries, it has been a totem of America’s gun culture — a name emblazoned on frontier flintlocks and U.S. Army .45s.

Remington Outdoor Co., which traces its history back to 1816, said it would file for bankruptcy protection, succumbing to a slump in business worsened by, of all things, a president who has steadfastly supported Americans’ right to bear arms.

The bankruptcy is a blow to the private-equity mogul Stephen Feinberg, who has been a prominent supporter of President Donald Trump.

America’s gun culture

Feinberg’s firm, Cerberus Capital Management, acquired Remington in 2007 and subsequently saddled it with almost $1 billion in debt.

The Chapter 11 bankruptcy filing will let Remington stay in business while it works out a plan to turn around the company and pay its creditors.

Remington has been around for over 200 years, dating back to 1816 when Eliphalet Remington II worked with a local gunsmith to create a flintlock rifle.

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