America's oldest gun manufacturer, Remington, has officially filed for bankruptcy. The move came late Sunday, just one day after massive, nation-wide protests demanding gun-control reform.

While the timing seems karmic, Remington Arms Company actually started the process in early February, before the shooting in Parkland, Florida. The company has been fighting slumping sales for years, and although there are upticks in gun sales after every mass shooting, those bumps haven't been enough to keep them afloat.

Remington has also struggled with negative public perception since the Sandy Hook attack in 2012, when a shooter used a Bushmaster rifle (manufactured by a company owned by Remington) to kill 20 elementary school students and six adults. Cerberus Capital Management LP, the private equity firm that owns Remington, tried to sell the company after that shooting and failed to find an interested buyer.

Ironically, gun makers are actually another victim of the Trump presidency: Gun sales had been rising for years as conservative figures swore that a Democratic administration was coming to steal people's firearms. With Trump in office, it's hard for gun manufacturers to persuade people who already own guns that they have to buy more. (This dovetails with the growing paranoia and hysteria on NRATV: Without Barack Obama as president, they have to desperately scramble for new boogeymen.)

But before anyone starts popping champagne over this, Remington's bankruptcy filing doesn't necessarily mean that the company is going anywhere. We already saw this in 2016, when the gun manufacturer Colt bounced back after their declaring bankruptcy allowed them to restructure and eliminate $200 million in debt and raise $50 million in new capital. For Remington, bankruptcy could provide protection in an ongoing lawsuit brought against them by Sandy Hook families, though the lawyer representing the families tells Reuters she expects the case to move forward as planned. In any event, Remington's creditors plan to allow it to keep producing guns as the company reorganizes.

Remington's bankruptcy is evidence that gun manufacturers aren't invincible juggernauts, but it's also a reminder that they're wealthy enough to enjoy their own set of rules and protections. And that wealth depends on persuading people that their right to purchase something is more important than kids surviving to their high school graduation.