Remington Outdoor Co., the firearms giant owned by private equity firm Cerberus Capital Management, is speaking with lenders about a prepackaged bankruptcy filing, according to Reuters.
Why it matters: This might be the merciful end to an albatross of an investment for Cerberus, which over-leveraged, over-consolidated and completely misjudged political and reputational risk. It also could put jobs at risk for some of the company's 3,000-plus employees.