Bloomberg reported that Remington’s creditors are looking for a quick sale after the beleaguered gun company emerges from Chapter 11.
Franklin Resources and JPMorgan are expected to become owners as Remington parts ways with its private equity owner, Cerberus Capital Management, according to Bloomberg.
Bank lenders reduced Remington’s $220 million line of credit to $193 million earlier this month, Bloomberg added.
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BofA Supports Remington Restructuring