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#Remington Arms preps for bankruptcy sale to Navajo Nation

#Remington Arms preps for bankruptcy sale to Navajo Nation

June 26, 2020 | 4:35pm

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday.

Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11, the Journal reported here, citing people familiar with the matter.

The report added that the filing could come with in days.

Remington had previously filed for bankruptcy protection in March 2018. The company makes the Bushmaster AR-15-style rifle used in the Sandy Hook shooting that killed 20 first-graders in 2012.

Remington and a representative for the Navajo Nation did not immediately respond to Reuters’ requests for comment.

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