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Article Date: July 2020
Word Count: 193

Remington Sale to Navajo Nation Sees Setback


The Navajo Nation’s Council Delegate Jamie Henio has withdrawn his sponsorship of tribal legislation to authorize the acquisition of the ailing gun maker, according to the Farmington (NM) Daily Times. As we reported last month, Remington and its creditors were said to be negotiating a possible deal with the Nation, with or without a bankruptcy filing. The sponsorship withdrawal does not necessarily scuttle the deal, and the tribe will move forward with due diligence that is already in process. However, it raised concerns about financing and the company’s liabilities, including the cost of environmental compliance at its ... Log in to view full article.

 


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