The chief financial owner of Remington Outdoor Co. resigned Tuesday, according to a company press release.

Stephen P. Jackson Jr., Remington’s CFO, plans to accept a similar position at another company.

The news comes as the gun manufacturer filed for Chapter 11 bankruptcy in February.

“I have been honored to be part of the Remington team and its great brands for over 10 years,” Jackson said in a statement. “However, as Remington embraced a new beginning I too am moving onto a new opportunity.”

On April 19, Jackson will officially step down from his duties as CFO in addition to those related to his a membership on the company’s board of directors. For now, the company will fulfill his role with its existing staff.

“On behalf of Remington, I want to thank Steve for his tireless dedication and valuable guidance through recent events,” CEO Anthony Acitelli said. “Steve was critical in helping the Company develop the restricting plan that we believe sets Remington on the path to a brighter tomorrow.”

Remington is based in Madison, North Carolina. It has seen slumping sales in the past few years.