Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Bushmaster rifle displayed at a recent trade exhibition. Photo by Ethan Miller/Getty Images.
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.
Cerberus declined comment, via a spokesman.
Bottom line: "Remington’s sales plunged 27% in the first nine months of 2017, resulting in a $28 million operating loss... [They] have declined in part because of receding fears that guns will become more heavily regulated by the U.S. government, according to credit ratings agencies."