Major U.S. Gun Maker Files For Bankruptcy

Remington Arms Company has filed for bankruptcy for the second time in over two years.

The gun manufacturer, one of the oldest in the United States, filed for Chapter 11 bankruptcy protection on Monday as it struggled under a mountain of high-interest debt and legal fees, according to The Wall Street Journal. The filing comes as gun sales are surging across the United States in a market driven by the pandemic and violent protests.