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Remington Outdoor to Dissolve as Bankruptcy Plan Is Approved

March 9, 2021, 11:51 PM

Remington Outdoor Co. Inc., the 200-year old gun-maker that recently sold most of its assets, will liquidate and dissolve following court approval of its bankruptcy plan.

The Huntsville, Ala.-based company, which calls itself “America’s Oldest Gunmaker,” sold its main businesses in a series of deals during its bankruptcy case, including the sale of the Lonoke ammunition line to Vista Outdoor Inc. Its sales proceeds of $175 million will largely be used to pay secured creditors, according to the plan that was tentatively approved Tuesday.

Senior secured creditors agreed to allow between $22 million and $30 million of the sales proceeds ...