Cerberus struggles to sell Bushmaster rifle maker

For almost exactly a year now, Cerberus Capital Management, the $20 billion private equity and hedge fund group, has been trying to sell one of its key holdings: Freedom Group, the biggest gunmaker in the country.

Freedom makes the weapon used at Sandy Hook elementary school one year ago this coming Saturday.

According to a report in the New York Times:

Instead of selling the company, executives from the Freedom Group explained on Monday during a conference call with about 35 creditors that Cerberus was working on a new step: helping its investors who were seeking to distance themselves from the industry sell their interests in the firearms maker.