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WSJ Reports: Remington Arms to Sell Ammunition Business to S. Carolina Company

ILION – The Wall Street Journal is reporting that gun maker Remington Arms will sell its ammunition business out of bankruptcy to JJE Holdings, in South Carolina.

The sale would be for $65 million.

Remington filed for bankruptcy in July and announced that massive layoffs could begin the end of this month.

 

By Joleen Ferris / WKTV NewsChannel 2