Sturm Ruger is far from the only gun maker in the crosshairs. Rival gun maker Remington is poised to emerge from its own financial restructuring thanks in part to a $193 million US loan from seven major banks. But one of them, Bank of America, is making it clear that it is the last time it will do so for any gun maker. Remington declared bankruptcy in March which was around the time when Bank of America stepped up with the funding. In addition, the bank was concerned about its reputation for standing by lending commitments if it reneged on its Remington financing, Reuters quoted an anonymous source familiar with the bank's thinking as saying.

Source: CBC News May 11, 2018 15:22 UTC