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Remington Arms Reaches Finance Deal that will Reduce Their Debt by About $700M

Gunmaker Remington Arms have reached a financing deal that would allow it to continue operating as it files for chapter 11 bankruptcy protection.  The gun maker said yesterday the agreement with lenders would reduce its debt by about $700 million and add $145 million in new capital.  Company officials say the restructuring won’t disrupt business. 

 

Joleen Ferris: WKTV News Channel 2