Remington: Oldest US gunmaker files for bankruptcy

The oldest gun manufacturer in the US, Remington Outdoor, has filed for bankruptcy in the wake of slumping sales.

The firm, founded more than 200 years ago, filed for bankruptcy protection to cut a deal with its creditors.

Remington’s chief financial officer said the company’s sales dropped significantly in the year before its bankruptcy, court papers show.

The filing comes amid fresh demands for greater gun control in the US.

A shooting at a Florida high school in February has revived the debate on gun control, and on Saturday hundreds of thousands of protesters took to the streets of US cities.

  • Six key March For Our Lives moments
  • The 11-year-old American with a rallying cry
  • Rapper Killer Mike defends owning a gun

    Some US retailers have raised the age limit for certain firearms purchases to 21 or stopped stocking semi-automatic weapons.

    The FBI processed a record number of background checks on gun purchases during the election year in 2016, but the rate of background checks plunged following Mr Trump’s election.

    Analysts say more Americans were buying guns two years ago because they feared a possible Hillary Clinton presidency could usher in gun control policies.

    It is thought that gun sales slowed after Mr Trump took office because firearms enthusiasts generally do not fear a Republican president will try to deprive them of their constitutional right to bear arms.

    Remington, best known for its rifles and shotguns, was founded in 1816.

    After it emerged a Remington rifle was used in the 2012 Sandy Hook elementary school shooting, victims’ family members filed a lawsuit against the gunmaker.

    In court papers filed in Delaware, Remington’s chief financial officer, Stephen Jackson, said the company was having difficulty meeting requirements from its lenders as a result of declining sales.

    During the bankruptcy process, the company will stay in business.

    In most US Chapter 11 bankruptcy processes, the debtor proposes a reorganisation plan to maintain its business and pay creditors over a period of time.

March For Our Lives: Six key takeaways from the US gun control rallies

It was the biggest gun control protest in a generation. Hundreds of rallies were staged across the US and beyond as marchers filled the streets calling for the implementation of tighter measures following the deadly mass shooting at a Florida school in February.

That incident not only ignited the #NeverAgain movement, but also Saturday’s mass demonstrations, which took place under the banner of March For Our Lives and were led by a rally in Washington DC attended by some 200,000 demonstrators, according to CBS News.

With events not just in the US but as far afield as London, Paris, Mauritius, Tokyo, Stockholm, Sydney, Geneva and Berlin, the day was made up of powerful messages delivered by articulate students and children, most of whom have already in some way experienced gun violence.

  • In pictures: Marches across the US and worldwide

    Here are six key moments from some of the biggest US rallies since the Vietnam War era.

    1. Survivor shows the power of silence

    One of the most emotionally charged moments came when Emma Gonzalez, one of the student survivors of the mass shooting at the Marjory Stoneman Douglas High School in Florida, took to the podium in Washington DC.

    Others present at the march in DC included the actor George Clooney, media mogul Oprah Winfrey, director Steven Spielberg, author Stephen King, TV host Ellen DeGeneres, late-night show host Jimmy Fallon and singer Cher.

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    Watching everyone marching and speaking up is so inspiring, and so powerful. Keep going. You're changing the world. #MarchForOurLives

    — Ellen DeGeneres (@TheEllenShow) March 24, 2018

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    6. Signs that grabbed attention

    Signs carried by protesters included strong messages criticising lawmakers who oppose tougher laws, with many also attacking the National Rifle Association (NRA), the powerful US gun lobby.

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    #MarchForOurLives pic.twitter.com/nkmzIslZgD

    — Liz Plank (@feministabulous) March 24, 2018

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    Others included powerful statements that highlighted the need for a rethink on current gun control laws and the sort of devastation that certain types of automatic weapons can inflict.

    Skip Twitter post by @PCC_Car

    #MarchForOurLives Philly One of many signs here. pic.twitter.com/5V9v60KY32

    — Robert Rosenthal (@PCC_Car) March 24, 2018

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    There were also signs that carried humour and impact in equal measure.

Naomi Wadler – the girl inspiring America?

Naomi Wadler is only 11 – but her strong voice at the March for Our Lives rally in Washington, DC, is still reverberating across the US.

The fifth grader from Alexandria, Virginia, said she represented African-American girls ignored by the media and suffering from gun violence.

Last week, she co-led her elementary school’s walk-out, joining a national movement seeking stricter gun controls in the wake of 17 people killed at Marjory Stoneman Douglas High School in Florida last month.

Naomi told the Guardian newspaper her school’s walkout was longer – it was also honouring 17-year-old Courtlin Arrington who died in a school shooting in Alabama on 7 March.

The elementary school’s principal was not initially “completely supportive” of Naomi and her friend Carter Anderson’s efforts, but was won round after observing their determination.

Here is what Naomi Wadler said at March for Our Lives, inspiring those in the crowds and watching from home:

“Hi [giggles]. My name is Naomi and I’m 11 years old.

Me and my friend Carter led a walk-out at our elementary school on the 14th. We walked out for 18 minutes, adding a minute for Courtlin Arrington, an African-American girl who was the victim of gun violence at her school, after the Parkland shooting.

I am here today to represent Courtlin Arrington. I am here today to represent Hadiya Pendleton. I am here today to represent Taiyania Thompson, who at just 16 years old, was shot dead at her home here in Washington, DC.

I am here today to acknowledge and represent the African American girls whose stories don’t make the front page of every national newspaper [cheering and applause], whose stories don’t lead on the evening news.

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Yes, Naomi Walder! Speak for all of the Black women who've been killed in gun violence! This sweet 11 year old is giving me LIFE! #BlackGirlMagic #saytheirnames #neveragain #MarchForOurLives

— Sho (@ShoStanback) March 24, 2018

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I represent the African American women who are victims of gun violence, who are simply statistics instead of vibrant beautiful girls full of potential [cheering and applause].

It is my privilege to be here today. I am indeed full of privilege. My voice has been heard. I’m here to acknowledge their stories, to say they matter, to say their names because I can. And I was asked to be.

For far too long, these names, these black girls and women have been just numbers. I’m here to say “Never Again!” for those girls too. I’m here to say that everyone should value those girls, too.

People have said that I am too young to have these thoughts on my own. People have said that I am a tool of some nameless adult. It’s not true.

My friends and I might be still be 11 and we might still be in elementary school, but we know, we know life isn’t equal for everyone and we know what is right and wrong.

Skip Twitter post by @jencolamonico

My white 6yo watching #NaomiWadler in awe… “that girl is going to be president some day.” #NeverAgain

— Jennifer Colamonico (@jencolamonico) March 24, 2018

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Naomi Wadler is my President.

— Tessa Thompson (@TessaThompson_x) March 24, 2018

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We also know that we stand in the shadow of the Capitol, and we know that we have seven short years until we too have the right to vote.

So I am here to honour the words of Toni Morrison: if there is a book that you want to read but it hasn’t been written yet, you must be the one to write it.

I urge everyone here and everyone who hears my voice to join me in telling the stories that aren’t told – to honour the girls, the women of colour who were murdered at disproportionate rates in this nation.

I urge each of you to help me write the narrative for this world and understand so that these girls and women are never forgotten. Thank you.”

Skip Twitter post by @KrownCityKing

The single most powerful political speech of 2018…was just delivered by an ELEVEN year old girl! Her name is #NaomiWadler. You’ll hear from her again. #MarchForOurLives

— Krown City King (@KrownCityKing) March 24, 2018

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Skip Twitter post by @SymoneDSanders

Naomi Wadler is currently standing in the gap for all of the black girls and black women who are victims of gun violence. All the black girls and Black women who don’t get a hashtag and who don’t become front page news. Thank you Naomi. #MarchForOurLives

— Symone D. Sanders (@SymoneDSanders) March 24, 2018

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Citigroup imposes restrictions on clients who sell guns

Investment bank Citigroup has said it will introduce new restrictions on business customers who sell guns.

It joins a growing corporate backlash against gun violence in the US, following the deadly school shooting in Parkland, Florida last month.

Citigroup said it would not work with firms that sell guns to customers who have not passed a background check or who are younger than 21.

It has also barred the sale of bump stocks and high-capacity magazines.

The measures would apply to clients who offer credit cards supported by Citigroup, or borrow money or use banking services through the firm.

The Parkland massacre, in which 17 died, has sparked a consumer boycott of firms who have partnerships with America’s powerful gun lobby, the National Rifle Association.

It has led many firms to cut ties, including United and Delta airlines and car rental giant Hertz, which have ended discounts for NRA members.

Others, such as tech firm Amazon, which distributes NRA television programmes, face pressure to act.

Citi, which is the first Wall Street bank to take a stand on gun control, called its measures “common sense”.

Chief executive Michael L Corbat told The New York Times that he himself was “an avid outdoorsman and responsible gun owner”.

But he added: “As we looked at the things we thought we could influence, we felt that, working with our clients, we could make a difference.

“Banks serve a societal purpose – we believe our investors want us to do this and be responsible corporate citizens.”

Risking revenue

The bank only has a few gun manufacturing companies as clients, but those it does work with will be asked to give details about their sales practices.

If customers refuse, the bank said it would work with them to “transition their business away” from Citigroup.

The company declined to outline the value of its work with gun-sellers, but said “real revenue is at risk” if customers protest and business relationships sour.

Seventeen students died when 19-year-old Nikolas Cruz opened fire at his former school in Parkland in February.

It was the deadliest school shooting since 26 people were killed at Connecticut school Sandy Hook in 2012.