Remington Outdoor Co. Inc. has secured a $65 million initial bid for its ammunition business, setting the floor for bankruptcy auction to take place later this month.
Columbia, S.C.-based private equity firm JJE Capital Holdings LLC submitted the “stalking horse” bid, according to a notice Remington filed Tuesday in the U.S. Bankruptcy Court for the Northern District of Alabama.
Remington also said it reserved its right to give notice of a stalking horse bid for its firearms business.
Remington filed Chapter 11 July 27, just over two years after emerging from a 2018 bankruptcy that wiped $775 million of red ...