Remington Outdoor Company announced the United States Bankruptcy Court for the District of Delaware confirmed the company’s Plan of Reorganization. Remington expects to emerge from bankruptcy before the end of May.

The plan, a comprehensive balance sheet restructuring, will cancel over $775 million in debt while all trade and business claims are honored. The plan received support from over 98 percent of the voting term loan lenders and all of the voting third lien noteholders. Upon emergence, Remington will have a new asset based loan (ABL) facility of $193 million, the proceeds of which will refinance the existing ABL facility in full. In addition, the company will have a $55 million first-in, last-out term loan and a new $100 million term loan.

“We are very pleased to have the support of our customers, suppliers, creditors, and owner in reaching this milestone,” said Anthony Acitelli, chief executive officer of Remington. Acitelli continued, “I want to especially thank our dedicated employees spread across the United States that have remained focused on Remington throughout this process.”

Remington’s legal counsel is Milbank, Tweed, Hadley & McCloy LLP; its investment banker is Lazard and its financial advisor is Alvarez & Marsal. The term loan Lenders’ legal counsel is O’Melvany & Myers LLC and their investment banker is Ducera Partners LLC. The Third Lien Noteholders’ counsel is Willkie Farr & Gallagher LLP and their investment banker is Perella Weinberg Partners LP.

Court filings and claims information may be accessed at

Remington Outdoor’s brands include Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, Dakota Arms, Parker, AAC, Barnes Bullets, Storm Lake and Tapco.