Remington Looking At Breakup After Ch. 11 Auction

Law360 (September 28, 2020, 3:43 PM EDT) -- Remington Outdoor Co. will be asking an Alabama bankruptcy court to allow it to split its firearms and ammunition business between seven different buyers after receiving $159.2 million in offers for different parts of its assets in a multiday Chapter 11 auction.

According to the bid notice Remington filed Sunday, the proposed sale would see a rifle-making subsidiary go to gunmaker Sturm Ruger & Co., two of its firearm factories go to another company and its ammunition business split between another two buyers, while three more bidders would pick up an assortment of firearms and accessories brands.

Remington filed for Chapter...

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