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BREAKING – NRA Files for Bankruptcy and Plans to Reincorporate in Texas

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The nation’s oldest and most-conflicted leader in the fight for 2nd Amendment rights announced today that it has filed for Chapter 11 bankruptcy and will reincorporate in Texas.

This announcement comes after several years of controversy over how the non-profit organization has spent its donations. The NRA has faced legal challenges in New York due to the handling of its finances.

NRA CEO Wayne LaPierre characterized this move as a restructuring plan that positions the organization for long-term success and a move to get away from what he calls “the toxic political environment of New York.”
“The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” LaPierre said.
Wayne Lapierre
Wayne Lapierre
The NRA and an un-named NRA subsidiary filed for Chapter 11 protection in the U.S. Bankruptcy Court in the Northern District of Texas. This type of protection affords financially-troubled organizations a means of restructuring their finances to pay creditors over a period of time while still remaining in operation. America’s oldest firearms brand, Remington, recently completed Chapter 11 bankruptcy proceedings, but the company did not survive the process. Instead, the company and its subsidiaries were parsed out seven ways, with the Remington brand name going to Vista Outdoor, Inc.
The NRA’s announcement is decidedly upbeat in tone, indicating that they anticipate no changes in their operations or workforce.
“Under the plan, the NRA will continue what we’ve always done – confronting anti-gun, anti-self-defense and anti-hunting activities and promoting constitutional advocacy that helps law-abiding Americans,” LaPierre said in the statement.

The statement also articulated that there are no immediate plans to relocate the NRA headquarters from Fairfax, Virginia at this time, but the organization is forming a special committee to “explore strategic options” on this issue.

The statement also clarified that membership dues and financial donations “will be fully dedicated to supporting our operations and public advocacy.”

“We are revitalized, well-positioned, and steadfast in our commitment to fight for you,” LaPierre said.

The NRA is offering more information about the announcement at https://www.nraforward.org.

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