Families of nine victims of the Sandy Hook school shooting are challenging weapons maker Remington Outdoor Co.’s proposal to quickly sell its assets in bankruptcy, asking how the company landed back in chapter 11 at a time when Americans are buying guns at record levels, the Wall Street Journal reported. In a court filing Friday, lawyers suing Remington over the 2012 mass killing of 20 children and six school staff members in Newtown, Conn., questioned how the company found itself in such desperate financial shape after wiping away hundreds of millions of dollars in debt in a previous bankruptcy in 2018. Remington filed for chapter 11 protection again last month, saying that even with Americans stocking up on guns and ammunition, it couldn’t profit because its cash is tied up by lenders. Gun sales have been driven by civil unrest sparked by the COVID-19 pandemic and the killing of George Floyd by police. The company said it wouldn’t last long without finding a buyer. The Sandy Hook families said on Friday that they aren’t convinced and questioned the company’s motivations for seeking bankruptcy protection, asking for a delay in the bankruptcy sale process. Remington has agreed to delay hearings on its sale process by a week, to give a newly appointed creditors committee time to weigh in.
