Beleaguered gun maker Remington files for bankruptcy

Remington, the gun maker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating as it seeks Chapter 11 bankruptcy protection. The maker of the Bushmaster AR-15-style rifle used in the Connecticut shooting that left 20 first-graders and six educators dead in 2012, said Monday that the agreement with lenders will reduce its debt by about $700 million and add about $145 million in new capital.
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