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Remington again delays bankruptcy filing

Dan Primack, author of Pro Rata

Photo by Scott Olson/Getty Images

Firearms manufacturer Remington has delayed its planned Chapter 11 bankruptcy filing for a second time, now extending the deadline from tomorrow to Sunday.

  • Details: The original postponement came earlier in the month, when Remington also said that Ankura Trust had replaced BofA Merrill Lynch as the restructuring's term loan agent. It is unclear if the agent change related to BofA's pledge to reexamine its gun-maker relationships, in the wake of Parkland. No changes accompanied the new delay announcement.
  • Go deeper: What happened to Remington?

Go deeper

Ursula Perano
27 mins ago - Politics & Policy

Former FDA commissioner: "Reliable drug supply is absolutely critical"

Axios' Caitlin Owens and former FDA commissioner Mark McClellan. Photo courtesy of Axios Events

Having a reliable supply of pharmaceutical drugs throughout America will be "absolutely critical" to boosting affordability in health care during the Biden administration, former Food and Drug Administration (FDA) commissioner Mark McClellan said at a virtual Axios Event on Friday.

The big picture: McClellan, who served under President George W. Bush, says drugs having limited supply and limited competition leads to elevated pricing. He considers drug supply to be a national security and public health issue.

Go deeper (<1 min. read)Arrow
Felix Salmon, author of Capital
3 hours ago - Economy & Business

Americans are still spending money

Source: Census Bureau; Chart: Axios Visuals

Americans spent more money at stores and restaurants in 2020 than they did in 2019 — even in the face of a devastating global pandemic that shut down broad sectors of the economy.

Why it matters: The monthly retail sales report this morning came in well below expectations, and showed consumer spending falling on a seasonally-adjusted basis. Total expenditures were still higher in December 2020 than they were a year previously, however.

Go deeper (<1 min. read)Arrow
Ashley Gold, Margaret Harding McGill
4 hours ago - Technology

The deplatforming fight shifts to the courts

Illustration: Eniola Odetunde/Axios

The Capitol riot and tech firms' sweeping attempt in its wake to dislodge the online far right are kicking up efforts to have the courts settle knotty questions about online speech and power.

Why it matters: Legal battles could force the people angry at Big Tech to bring more rigor to arguments that have often devolved into messy sideshows.

Go deeper (2 min. read)Arrow