Remington Arms Files for Chapter 11 Bankruptcy
The 200-year-old gun manufacturing business Remington Arms has recently filed for Chapter 11 bankruptcy and Syracuse College of Law professor and Bankruptcy Clinic director Gregory Germain spoke with Spectrum News about this filing.
“The idea is to keep the business going,” he said. “If the company has a viable business and their problem is excessive debt, they can restructure their finances and continue in business. So, that’s the main purpose of Chapter 11.”