The gun maker, struggling with a large debt load and the weight of litigation connected to the Sandy Hook killings, has seen even recent sales disappoint because of an inability to acquire raw materials from jittery suppliers and shutdowns of its factories due to the pandemic, despite a recent surge in firearms sales. On Jul. 27, it filed for protection from creditors in Northern AL federal court and said it would pursue a sale of the company.

The petition lists some $30 million in unsecured claims, generally from trade creditors but there are also a number of development loans from state ... Log in to view full article.