Remington Outdoor Co Inc, one of America’s oldest and largest gun makers, filed for bankruptcy protection on Sunday to carry out a debt-cutting deal with creditors amid mounting public pressure for greater gun control.

The company listed assets in the range of US$500 million to US$1 billion and liabilities in the range of US$500 million to US$1 billion.

The bankruptcy filing allows Remington to stay in business and keep making guns while restructuring its massive debt. The company plans to reduce its debt by $620 million through the Chapter 11 process.

The company said, when it first announced its plan to file for bankruptcy in February, that operations “will not be disrupted by the restructuring process.”

Remington is also one of the best-known gun makers in the world. It’s owned by Cerberus Capital Management, which plans to shed ownership once the bankruptcy is complete.

In some of the biggest US youth demonstrations for decades, protesters called on lawmakers and President Donald Trump to confront the issue. Voter registration activists fanned out in the crowds, signing up thousands of the nation’s newest voters.

After a Remington Bushmaster rifle was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults,

Remington and other gunmakers have suffered from slumping sales in the past year as fears of stricter gun laws have faded.