By Associated Press – Re-Blogged From Newsmax
Remington, a company that began making flintlock rifles when there were only 19 United States, has filed for bankruptcy protection.
Mounting debts at the arms manufacturer have snowballed, ironically, since the election of Donald Trump, who has called himself a “true friend” to the gun industry.
Remington, which as roots dating to 1816, has lined up $100 million with lenders to continue operations.
It remains unclear what will happen to the 3,500 or so employees at Remington as it reorganizes.