Remington In Talks For Acquisition By Navajo Nation

By Aaron Spuler | June 29, 2020

Salient points:

  • Civilian AR-15’s: out
  • Hunting rifle focus
  • “Smart” gun focus

Navajo Nation will acquire Remington after filing for chapter 11 bankruptcy for the second time. The tribe offered to buy the company in 2018 when the company declared bankruptcy for the first time. However, the offer did not materialize as the company sought other means of survival such as cost-cutting measures. Some of the creditors such as Franklin Templeton Investments and JPMorgan Asset Management took ownership of the company and Remington managed to reduce debt by $775 million.

Read the rest of the article: https://www.lsgr.live/post/najavo-nation-to-acquire-oldest-gun-maker-after-declaration-of-bankruptcy-and-sandy-hook-lawsuit?postId=5ef9028a0caa42001727433e

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