Remington Emerges From Bankruptcy

Remington Outdoor Co. has emerged from bankruptcy, the company announced on Thursday morning.The reorganization plan, confirmed by a Delaware bankruptcy court earlier this month, converted over $775 million in debt into equity.The company first announced it would enter bankruptcy in February. Cerberus Capital Management acquired Remington in 2007 and the firearms and ammunition giant accumulated nearly $1 billion in debt.Remington Outdoor is made up of 13 brands, including a 200-year-old rifle maker, ammunition manufacturers and silencer companies.

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