Bankrupt NRA: National Rifle Association of America Files for Bankruptcy

The National Rifle Association has announced that it has filed for bankruptcy and will seek to incorporate the nation’s most politically influential gun rights group in Texas instead of New York.

The announcement made on the NRA’s website comes months after the New York attorney general sued the organization over claims that senior executives illegally diverted tens of millions of dollars for luxurious personal travel, no-show contracts for associates. and other questionable expenses.

The coronavirus pandemic has also upset the NRA, which last year laid off dozens of employees, canceled its national convention and messed up the fundraiser.

Still, the NRA claimed in announcing the move that the organization was “in its strongest financial position in years.”

The NRA said it filed for Chapter 11 bankruptcy in federal court in Dallas. “The move will allow for long-term sustainable growth and will ensure the NRA’s continued success as the nation’s foremost defender of constitutional freedom, free from New York’s toxic political environment,” the NRA said in a statement.

The gun rights group has about five million members. Although based in Virginia, the NRA was incorporated as a non-profit organization in New York in 1871 and is incorporated in the state.