NRA Files For Bankruptcy, “Dumps” New York, Will Reincorporate In Texas

NRA Files For Bankruptcy, “Dumps” New York, Will Reincorporate In Texas

Less than a week after President-elect Joe Biden on Jan. 8 promised to “defeat” the National Rifle Association while he’s in office, the organization said in a statement tonight that it has filed bankruptcy petitions in U.S. court as part of a restructuring plan.

The NRA says the plan can be summed up quite simply: We are DUMPING New York, and we are pursuing plans to reincorporate the NRA in Texas.

The NRA’s lobbying arm recently published an article that says Biden would “begin a concerted attack on the rights of American gun owners” after being inaugurated.

“We must be ready for the onslaught,” the post reads, adding that a Biden administration, if officials get their way, “will ban and confiscate the most-commonly-owned rifle in the United States” and “will arbitrarily limit the number of guns that can be bought per month,” among other measures.

And the reaction to Biden’s election is already evident as we recently noted thatAmericans panic hoarded guns in 2020, according to the FBI’s latest firearm statics. 2020 was a record-breaking year with a 39.9% increase in FBI firearm background checks. 

FBI Firearm Background Checks (Monthly) 

NRA Files For Bankruptcy, “Dumps” New York, Will Reincorporate In Texas

The panic grab for guns and ammo began in March/April when the virus pandemic and economic crash triggered the first wave.

Then the second wave of buying occurred in the summer during social unrest sparked by the police killing of George Floyd. With a transition of power from gun-friendly Republicans to gun-hating Democrats, the next wave of buying should be underway before bans or restrictions come into law. 

Last year, a total of 39,695,315 completed background checks – up from 28,369,750 in 2019 – the year marked the most firearm checks in history, since the FBI began recording firearm sales in 1998.

FBI Firearm Background Checks (Annual) 

Nine of the top ten highest firearm-check weeks occurred last year during the heights of the pandemic and social unrest. 

During President Trump’s “Stop The Steal” campaign, firearm background checks rose in December due to the threat Biden could become president. 

TMZ interviewed gun shops in 20 US cities this week. What they found was at least half of the gun shops reported a “substantial increase in sales of firearms and ammunition since pro-Trump insurrectionists stormed the Capitol Building on January 6.”

As we said at the time, it wouldn’t shock us if Biden were to ban 80% lowers and ghost guns in his first term.

The Second Amendment is under attack. There are five million NRA members, and tens of millions of gun owners that will be very unhappy if Biden starts restricting or banning guns and ammo.

*  *  *

Full Statement from Wayne LaPierre at The NRA

Today, the NRA announced a restructuring plan that positions us for the long-term and ensures our continued success as the nation’s leading advocate for constitutional freedom – free from 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.

To facilitate the strategic plan and restructuring, the NRA and one of its subsidiaries have filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. As you may know, chapter 11 proceedings are often utilized by businesses, nonprofits and organizations of all kinds to streamline legal and financial affairs.

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. Our work will continue as it always has. No major changes are expected to the NRA’s operations or workforce.

Importantly, our plans do not impact your membership at any level.

NRA supporters will continue to enjoy all their full member benefits – from new members to Life Members to Benefactor Members. We will continue to publish and deliver your magazines. We will continue to train Americans and teach them firearm safety. We will continue to teach hunter safety. But most importantly, we will continue to fight for your freedom and the freedom of all Americans – as we have for all these years. In fact, we are expanding our national platform.

The plan aims to streamline costs and expenses, proceed with pending litigation in a coordinated and structured manner, and realize many financial and strategic advantages.

You know that our opponents will try to seize upon this news and distort the truth. Don’t believe what you read from our enemies. The NRA is not “bankrupt” or “going out of business.” The NRA is not insolvent. We are as financially strong as we have been in years.

But they know today’s announcement makes us bigger, stronger and more prepared for the fight for freedom.

We are leaving the state of an attorney general who, just a few months ago, vowed to put us out of business through an abuse of legal and regulatory power. In fact, the gross overreach of the New York Attorney General and New York Governor has been resoundingly criticized by powerful national groups like the ACLU and a host of prominent legal scholars.

Subject to court approval, the NRA is pursuing plans to reincorporate in the State of Texas. The Lone Star State is home to more than 400,000 NRA Members and the site of our 2021 Annual Meeting being held in Houston.

Texas values the contributions of the NRA, celebrates our law-abiding members, and joins us as a partner in upholding constitutional freedom.

Under this plan, we seek protection from New York officials who illegally abused and weaponized the powers they wield against the NRA and its members. You can be assured the Association will continue the fight to protect your interests in New York – and all forums where the NRA is unlawfully singled out for its Second Amendment advocacy.

This plan represents a pathway to opportunity, growth and progress.

This is the most transformational moment in the history of the NRA. And it involves all of you.

The NRA will continue to promote its Second Amendment advocacy, sponsor firearms training, and work with its network of instructors and volunteers in furtherance of its mission. This plan actually streamlines all of the NRA’s activities and improves our operational processes.

I know we have welcomed many of you to our headquarters in Fairfax, Virginia. We have no immediate plans to relocate, but we are forming a special committee to explore our strategic options in this regard. We want to determine if there are advantages to relocating our HQ operations to another state. I have asked our leadership team to explore all options that benefit the NRA and its members.

What’s most important is leading the fight for Second Amendment freedom and serving our members. We will do that from anywhere that works best for you and for our cause.

All membership dues and financial donations will be fully dedicated to supporting our operations and public advocacy. This plan actually improves our business. It protects us from costly, distracting and unprincipled attacks from anti-2A politicians aimed at attacking the NRA because we are a potent political force. We know that the gun ban lobby will never stop – fueled by a hatred of your freedoms and by wealthy benefactors. Our plan is the best way to confront them.

We are now prepared for a better future. In fact, to me, it feels like the dawn of a new day.

We are revitalized, well-positioned, and steadfast in our commitment to fight for you. To learn more, please visit www.nra.org/forward.

Thank you for your unwavering spirit and being part of the NRA’s future. Both hold incredible promise for our country – and the freedoms in which it believes.

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