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Big Law

U.S. firearms dealer files bankruptcy as gun sales fall

United Sporting Cos, a large firearms distributor whose roots date to the Great Depression, filed for bankruptcy protection on Monday and said it plans to liquidate, hurt by falling sales after President Donald Trump was elected and as Dick’s Sporting Goods Inc began moving away from firearms.

The company, whose units including Ellett Brothers serve 20,000 retailers in all 50 states, said other reasons for its Chapter 11 filing were too much debt and discounting caused by excess inventory. It also cited “significant” disruptions in outdoor retailing such as Bass Pro Shops’ 2017 purchase of Cabela’s and Gander Mountain’s bankruptcy.

Read the source article at foxbusiness.com

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