On Sept. 29, 2020, Remington Arms and its associated companies will be divided in the United States Bankruptcy Court for the Northern District of Alabama.

In the company's latest financial statement to investors, Remington Outdoor Company disclosed declining sales of firearms and ammunition in the last quarter, with many consumers purchasing less expensive guns and ammunition.

Remington Outdoor Company announced Tuesday it was launching a new incentive program to help boost sales by giving top retailers cash for moving inventory.