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Pat Darling (L) and his nephew, Chip Darling, look at a Remington rifle display. (Photo by Whitney Curtis/Getty Images)
For more than 200 years, Remington firearms have been forged from the untamed spirit that will always define the American spirit — Revolutionizing an industry. Building a nation. This is Remington Country." ~ Remington homepage

This is how Remington Arms Company describes themselves, but for how much longer? Late Sunday, the United States' oldest gun manufacturer filed for Chapter 11 bankruptcy protection in Delaware.

Sales slumped for the company, founded in  1816 by Eliphalet Remington in Ilion, New York. Now based in North Carolina, Cerberus Capital Management, a private-equity group, now owns majority interest in Remington. They plan to sell off Remington's assets after completing the bankruptcy process.

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