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The oldest gunmaker in the U.S. just filed for bankruptcy

The oldest gunmaker in the U.S. just filed for bankruptcy
[Photo: Tparlin/Wikimedia Commons]

And in a way, it’s Donald Trump’s fault. The 202-year-old gunmaker Remington Outdoors has filed for Chapter 11 bankruptcy protection, reports CNBC. In a note to investors on Friday, Remington revealed it has a negative operating cashflow of $7.4 million. It had $600 million in sales in 2017, but that was down over 30% from 2016 sales. While it would be nice to believe the increasing anger from the public over mass shootings in America had a role to play in Remington’s slowdown in sales, the drop is probably more likely related to the fact that most gun sales take a dive during years in which a Republican sits in the Oval Office, as gun advocates feel it’s less likely that any ban or restrictions on personal arms will be passed.

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