NRA files for bankruptcy; Restructuring in Texas

The National Rifle Association announced today that it will be filing for bankruptcy. This will allow the organization to make the move from New York to Texas as part of their restructuring plan.

“The plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas,” wrote NRA CEO and executive vice president Wayne LaPierre, adding that the move will have “no major changes are expected to the NRA’s operations or workforce.”

From CNBC:

Last year, New York Attorney General Letitia James announced that the state was seeking to dissolve the NRA in a lawsuit that accused the organization’s leadership of diverting $64 million dollars for their own personal use. 

“The NRA’s influence has been so powerful that the organization went unchecked for decades while top executives funneled millions into their own pockets,” James said in August. “The NRA is fraught with fraud and abuse, which is why, today, we seek to dissolve the NRA, because no organization is above the law,” she added.

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