Fresh on the heels of the country-wide protests for gun control reform, Remington has filed for Chapter 11 bankruptcy protection. The timing seems like a perfect reaction to the recent backlash for the school shooting at Stoneman Douglas High School, but the cause is more likely Donald Trump. While Remington has struggled with a negative public image after a shooter used a Remington rifle to kill 26 people at Sandy Hook, gun sales always take a dive when a Republican president is in office.
Remington has struggled with a drop in sales for years, particularly after the Sandy Hook massacre. But gun manufacturers are having a hard time convincing people that the government is coming for their guns when there’s Republican leader in the Oval Office. As such, gun sales are down.
Remington probably isn’t going anywhere, despite the bankruptcy filing. Colt declared bankruptcy in 2016 and they are still around manufacturing weapons. Remington’s bankruptcy will likely help them with the lawsuit that Sandy Hook victims filed against the company – and they plan to continue to keep making guns as the company reorganizes.