Remington Outdoor Co. has filed for bankruptcy protection to carry out a debt-cutting deal with creditors as pressure mounts in the US for gun control. In February, the gunmaker agreed with lenders to reduce its $950 million ($766 million) debtload by about $700 million and add up to $145 million in new capital. But that only bought time for it to seek Chapter 11 bankruptcy protection, which will allow the company to reorganize under the court's supervision rather than completely cease operations.

Read more: 8 facts about gun control in the US

Watch video 01:46 Share US: Anti-gun protests Send Facebook google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine Permalink https://p.dw.com/p/2uvVl Hundreds of thousands decry US gun violence

In the filing, CFO Stephen Jackson said Remington's sales had fallen significantly in the year before its bankruptcy, leaving the company with difficulties in meeting the requirements set out by its lenders. The company plans to wrap up its bankruptcy as soon as May 3, according to court papers.

After a shooter killed 26 people, mostly children, with Remington's Bushmaster rifle in 2012 at Sandy Hook Elementary School in Connecticut, the private equity firm Cerberus Capital Management tried unsuccessfully to unload the gunmaker as victims' families sued. Cerberus will lose ownership during the bankruptcy proceedings.

Shoes outside the Capitol represent 7,000 US children killed by guns since Sandy Hook

Shooting after shooting

Though European arms manufacturers continue to find a lucrative market in the US, sales slumped for Remington and other domestic gunmakers as inaction by successive administrations assuaged the fears of stricter firearms laws that once followed mass shootings. Nevertheless, on March 1 the chief executive of American Outdoor Brands Corp., the maker of the Smith & Wesson gun used to kill 17 people at a high school in Florida in February, said some gun retailers had reported increased sales after the shooting.

The February 14 shooting in Florida has intensified the campaign for some form of improved gun control in the United States. The massacre also led to huge anti-gun rallies by more than 1 million people nationwide on Saturday. In some of the biggest youth demonstrations in decades in the United States, protesters called on lawmakers and President Donald Trump to finally confront the issue.

Aside from proposals such as arming teachers, officials remain reluctant to act, but firms have boosted their profiles by taking a stance. Last week, Citigroup Inc. announced that it would require new retail sector clients to sell firearms only to customers older than 21 who pass background checks and to bar sales of high-capacity magazines. Some big-box chains have announced that they will stop selling firearms entirely.

US students protest against gun violence Walk-outs across the nation From Arizona to Washington DC, students have walked out of classrooms to protest gun violence after the deadly shooting at Marjory Stoneman Douglas High School in Parkland, Florida. Seventeen students were killed when a former student walked onto the premises and opened fire using an AR-15 rifle.

US students protest against gun violence Stop gun violence Many of the students held signs reading "Never again" and "End gun violence." Teenagers at some of the schools called for the AR-15 and similar assault rifles to be banned for civilian use, saying they should be reserved for the armed forces. Others called for stricter measures to acquire arms. "Innocent people are dying because of the easy access to firearms in this country," said one student.

US students protest against gun violence Demanding change Over the past decade, the US has witnessed several deadly mass shootings, including in Las Vegas, Orlando and Sandy Hook. Many students view the Parkland shooting as part of inaction by lawmakers to curb access to guns. "They send out their thoughts and their prayers, and we appreciate that, but that's enough," said one student. "We need change."

US students protest against gun violence Some educators not supportive But not all educators were supportive of the students. "Life is all about choices and every choice has a consequence whether it be positive or negative," said Superintendent Curtis Rhodes of Texas' Needville Independent School District. "We will discipline no matter if it is one, 50 or 500 students involved." ls/sms (AP, AFP)



mkg/rt (Reuters, AFP, AP)