The company filed for bankruptcy protection in a Texas court Friday.
January 15, 2021, 9:50 PM
• 2 min read
Share to FacebookShare to TwitterEmail this articleThe National Rifle Association announced that it intends to restructure as a nonprofit based in Texas and has filed for Chapter 11 bankruptcy protections.
"The move will enable long-term, sustainable growth and ensure the NRA's continued success as the nation's leading advocate for constitutional freedom -- free from the toxic political environment of New York," the gun advocacy group said in a statement Friday.
The NRA added that it has been incorporated in New York for approximately 150 years.
The move comes after the NRA faced a lawsuit from New York Attorney General Letitia James. The NRA has meanwhile filed a counter claim, calling the initial suit politically motivated.
"This strategic plan represents a pathway to opportunity, growth and progress," NRA CEO Wayne LaPierre said in a statement. "Obviously, an important part of this plan is 'dumping New York.' The NRA is pursuing reincorporating in a state that values the contributions of the NRA, celebrates our law-abiding members, and will join us as a partner in upholding constitutional freedom. This is a transformational moment in the history of the NRA."
This is a developing story. Please check back for updates.
