Deals
Remington Postpones Bankruptcy as BofA Hands Off Agent Role
- BofA replaced as administrative agent, document shows
- Filing comes as investors’ distaste for gun investments grows
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Remington Outdoor Co., the gunmaker headed for bankruptcy, postponed its court filing deadline by one week as Bank of America Corp. stepped away from a key role in the turnaround plan.
The Chapter 11 case will be filed by March 14, instead of the previously targeted March 7, according to an amendment posted on Remington’s website Monday. The company had said it would start solicitation for the plan by March 5, but that’s been delayed until March 12, according to the document.