Remington Outdoor Company, Inc., along with twelve of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10684). Headquartered in Madison, North Carolina, Remington is well-known as one of America’s largest and oldest firearms manufacturers. According to the First Day Declaration, Remington has filed Chapter 11 as a result of numerous factors, including unsustainable debt levels, rising costs and declining sales. Remington previously announced on February 12, 2018, that it had entered into a restructuring support agreement with its term loan lenders and third lien noteholders to support a prepackaged plan of reorganization. According to the Disclosure Statement, the Plan will reduce Remington’s consolidated indebtedness by $700 million and contemplates a contribution of nearly $150 million in new capital. Remington is also seeking approval of over $145 million in DIP Financing provided by Remington’s pre-petition ABL and term loan lenders, consisting of $100 million in new money and a rollup of the $45 million pre-petition bridge loan provided by Remington’s term loan lenders. Prime Clerk LLC is the proposed claims and noticing agent. The cases have been assigned to the Honorable Brendan Linehan Shannon.