AMERICA’S OLDEST GUN MAKER BANKRUPT AS SALES SLUMP

Remington Armswas founded in 1816 and is America’s oldest gunmaker Itwas started by Eliphalet Remington II whose family origins lay in Yorkshire In 1873 Remington produced the world’s firstcommercial typewriter Remington guns were used byWilliam ‘BuffaloBill’ Codyand Bonnie andClyde Its gunswere also used in theAmerican CivilWar and both world wars

Arnold Schwarzeneggerwielded a Remington 1100 in the Terminator Genisys movie (pictured)

Images of Remington rifles featureon Guatemala’sflag

Remington sells guns in morethan 60countries around theworld AMERICA’S oldest gun maker has filed for bankruptcy as fewer people stockpile firearms under Donald Trump.

Remington Outdoor, which is the second-biggest gun manufacturer in the US, collapsed after struggling to meet requirements from its lenders amid a dramatic decline in sales, according to US court papers.

Sales are said to have slumped since the run-up to the 2016 election, when many Americans were stockpiling firearms in fear of a clampdown on gun control under a Hillary Clinton presidency. Since President Trump took office, gun owners are said to be buying fewer weapons as they do not fear a radical change in policy under a Republican commander-in-chief.

The Chapter 11 bankruptcy process will allow Remington to carry on trading while it pays its debts.

Its controlling company, private equity group Cerberus Capital Management, will lose ownership as a result of the bankruptcy.

The filing comes amid widespread protests across the US demanding greater gun control after 17 were shot dead at a Florida school last month.