Remington Outdoor Co., a major U.S. gun manufacturer, reportedly filed for Chapter 11 protection on Sunday.

The company, which is facing mounting debt and lawsuits related to the 2012 Sandy Hook Elementary School shooting, announced last month that it would file for bankruptcy, but delayed doing so after the Florida high school shooting in February, according to The Wall Street Journal.

“We do not expect this filing to affect the families’ case in any material way," an attorney representing Sandy Hook families in their suit against the manufacturer said in a statement to The Hill. 

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Remington reportedly plans to hand over control of the company to its creditors.

The company is one of the oldest gun and ammunition makers in the U.S. 

The day before the filing, hundreds of thousands of young people gathered in all 50 states and on six continents for the "March For Our Lives," an anti-gun violence march organized by survivors of the Florida shooting. 

The demonstrations were spurred by the shooting at Marjory Stoneman Douglas High School in Parkland, Fla., last month that left 17 people dead. 

Various retailers have since put restrictions on firearm sales. 

Superstore company Fred Meyer said it would stop selling firearms and ammunition at its stores, Dick's Sporting Goods said it would no longer sell assault-style rifles and Dick's, Walmart and L.L. Bean each said they would stop selling guns to individuals under the age of 21.

Florida Gov. Rick Scott (R) signed a measure earlier this month that raises the minimum age for purchasing firearms from 18 to 21 and imposes a three-day waiting period for most purchases of long guns.