Business & Economy
Associated Press/Photo by Julie Jacobson (file)

Gun-maker Remington going bankrupt

by Lynde Langdon
Posted 3/26/18, 12:47 pm

Remington, the U.S. gun-maker with a history dating back to 1816, filed for Chapter 11 bankruptcy protection Sunday, citing mounting debts and declining sales. Several trends contributed to the company’s downfall, including the consolidation of gun ownership in the United States. A recent study by Harvard and Northeastern universities found 3 percent of the population owns half of the country’s guns, making the market volatile.

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Associated Press/Photo by Julio Cortez

After 70 years, Toys R Us going out of business

by Lynde Langdon
Posted 3/15/18, 12:22 pm

Toys R Us on Wednesday informed employees of its plan to close all of its U.S. stores in the coming months. The chain’s liquidation will result in the shuttering of 740 retail locations and eliminate about 30,000 jobs. The 70-year-old company filed for Chapter 11 bankruptcy protection last year to ward off creditors who were owed about $5 billion. The announcement appears to have hurt the company’s holiday sales, which proved dismal as customers turned to other retailers with steadier reputations. Toys R Us employees in the U.S.

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Associated Press/Photo by Gene J. Puskar

Walmart raises minimum age for gun purchases to 21

by Evan Wilt
Posted 3/01/18, 11:37 am

Walmart announced Wednesday it would no longer sell firearms or ammunition to anyone younger than 21 years old. “In light of recent events, we’ve taken an opportunity to review our policy on firearm sales,” the retailer announced in a statement.

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