Why it matters: The 204-year-old firm is considered America's oldest gun-maker. Its chapter 11 filing in the U.S. Bankruptcy Court in Decatur, Ala., marks the second time since 2018 that it's filed for bankruptcy. Remington was facing a wrongful death lawsuit from families of the 2012 Sandy Hook school shooting victims. The second bankruptcy filing was prompted by a "struggle to pay legal fees and the high interest payments on its debt," the New York Times notes.
Go deeper: What happened to Remington?