Gun maker Remington files for bankruptcy again despite industry surge - Business Insider

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The oldest gun maker in the US, Remington, filed for bankruptcy again even as gun sales surge

families of those victims have accused Remington of violating the states Unfair Trade Practices Act by advertising the weapon to civilians.

Gun sales have spiked in the four months that the coronavirus and its economic devastation have gripped the US. Federal background checks hit 3.9 million in June, the highest number on record, and the National Shooting Sports Foundation estimates 40% of the buyers were new gun owners. "Manufacturers are working around the clock to be able to keep up with that demand," Marc Oliva, an NSSF representative,Analysts expect the trend to continue through the fall, as the US fails to stop the virus' spread and Joe Biden increases his polling lead over President Trump.

"While COVID-19 lock-downs are starting to ease, gun demand could remain strong as civil unrest increases with the George Floyd protests," Cai von Rumohr, an analyst at Cowen,. Since then, protests have continued in most major cities, with federal troops being sent in against local official's pleas with the White House.

"Moreover, gun demand likely also would be bolstered if Biden's election prospects strengthen given his more restrictive stance on gun control," von Rumohr continued.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.Get a personalized selection of top stories daily based on your preferences.

 

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Good. We have enough 'long guns' to use as suppositories.

I guess they won’t create new things that kill things.

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