JJE Capital Bids $65 Million for Remington’s Ammunition Business

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 ...