There appears to be a light at the end of the tunnel for Remington Outdoor Company, the famous American arms giant struggling with bankruptcy and debts to be paid. The financial restructuring plan is working and the Madison company it is no longer under legal control. A few months there was the official announcement of the adhesion to the so-called "Chapter 11" of the stars and stripes legislation, the very one that governs bankruptcy.
The plan made it possible to convert the $ 775 million debt in equity securities. The shares issued prior to accession, on the other hand, were canceled. Now the top management is very confident for the future. In particular the CEO Anthony Acitelli triumphantly declared that the next few months are more peaceful and will be characterized by quality production and good employment for employees. The workers who are at the Ilion plant there are about a thousand.
The news of the bankruptcy obviously caused a certain sensation, also because it is the oldest arms company in the United States: it was founded in 1816, therefore it has more than 200 years of history and its models are appreciated all over the world. The approximate calculation of the debts has revealed a rather alarming figure and very close to billion dollars.