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Remington’s Bankruptcy May Be the Tip of the Iceberg

Republican control in Washington has helped slow purchases by gun enthusiasts who once feared tighter restrictions under Democrats.

Firearms companies face declining sales, falling stock prices and tremendous debt. Gunmaker American Outdoor Brands Corp., formerly known as Smith & Wesson, has seen its stock plummet by almost half from 2017. On Monday, Remington Outdoor Co., an iconic, 200-year-old American firearms manufacturer, announced it’s planning to file for bankruptcy.  

With Republicans in control of Washington, there’s little chance of firearm regulation—even in the face of Wednesday’s massacre in Florida. When Barack Obama was president or Democrats controlled Congress, gun sales would generally rise after a mass shooting for fear of more restrictive laws. The gun lobby pushed these worries despite a lack of significant legislative effort by the Obama administration. Now that Donald Trump is in the Oval Office, fear of new gun laws has receded, industry executives have said. And so have sales, hurting both retailers and manufacturers such as Remington.