Remington Outdoors, one of the largest gun manufactures in the country, is, according to Reuters, positioning itself to file for bankruptcy.
The company seeks to restructure about $950 million in debt following a missed payment.
Reuters reports the financing would reportedly allow Remington to continue to operate during restructuring.
Any timeframe or plans for Remington’s possible bankruptcy have not been announced.
The gun manufacturer operates a plant in Huntsville.