United Sporting Companies, an 85-year-old distributor of firearms and outdoor equipment, has filed for bankruptcy, saying it's awash in debt and inventory after wrongly anticipating that sales would increase after the 2016 presidential election. But Republican Donald Trump's victory over Democrat Hillary Clinton proved to be part of its undoing, United CEO Bradley Johnson explained in filing for Chapter 11 bankruptcy Monday.
Lower-than-expected sales followed in 2017 and 2018, leading to an industrywide glut that forced United and rivals to heavily discount their merchandise, he added in the court document. Indeed, the gun industry at large struggled with slowing sales after Mr. Trump's election as worries about gun control ebbed among firearm enthusiasts.
American Outdoor Brands, formerly known as Smith & Wesson, saw its profits slide 90 percent in Mr. Trump's first year in office. And Remington Outdoor, the nation's oldest gunmaker, emerged from bankruptcy last year.
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We have more guns in this country than the whole world combined .
ReplyDeleteSomewhere there is a saturation point
hmmm
Delete. how about u leaving this country ....take peace Alliance of the lower Shore with you too
Bye falicia
Delete