Fire sale: American are buying fewer guns under Donald Trump
Gun-maker Remington has filed for bankruptcy after a sales slump blamed on the election of US President Donald Trump.
Predecessor Barack Obama presided over a golden era for American weapons firms – because the threat of tough restrictions fuelled a buying spree by gun enthusiasts.
But Trump is not seen as a threat, and so the rush to stock up has ended.
Remington is using America’s chapter 11 bankruptcy law to get rid of £500million of its £679million debt pile.
The company was formed 200 years ago and supplied weapons during the civil war, but its reputation was tarnished when its Bushmaster AR-15 rifle was used to kill 20 children and six adults in the 2012 Sandy Hook school shooting.