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Per Yahoo Finance based on a Reuters report, United Sporting Company, a firearms distributor has filed for bankruptcy protection under Chapter 11 due to the “Trump Slump” and large retailers like Dick’s Sporting Goods Inc. no longer stocking firearms.
The Trump Slump has affected numerous gun dealers and distributors because of the President’s stance on guns.
For example, since it was believed that President Barack Obama was going to “take away your guns,” sales of firearms exploded. With the belief that Hillary Clinton was going to be the next President, dealers and distributors increased their stock, but with President Donald Trump since there was never any fear of gun restrictions, etc., gun sales have decreased substantially.
United Sporting serves 20,000 retailers in all 50 states and cited their excess inventory with a 61 percent drop after President Trump was elected. Sales dropped from $885 million for the four year period of 2012-2016 to $557 million in 2018.
Per the bankruptcy petition in Wilmington, Delaware, USC has approximately between $100 million to $500 million in liabilities.
Alexander Hernandez has been representing clients since 1999 in the areas of Chapter 7 Bankruptcy, Family Law, and Personal Injury.
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