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United Sporting Cos, a large firearms distributor whose roots date to the Great Depression, filed for bankruptcy protection on Monday and said it plans to liquidate, on account of being hurt by falling sales since Donald got elected in 2016 & Dick's Sporting Goods decided to begin moving away from firearms.
U.S. firearms distributor files bankruptcy as gun sales fall under Trump - Reuters
U.S. firearms distributor files bankruptcy as gun sales fall under Trump - Reuters
The firearms industry has faced pressure here on sales after Trump's 2016 election eased gun control fears, even as a spate of U.S. mass shootings has prompted calls for more curbs on gun ownership.
In a court filing, Chief Executive Officer Bradley Johnson said USC boosted inventory before the 2016 White House race, expecting the higher sales that historically follow a Democrat’s election.
But he said the Republican Trump’s unexpected win over Democrat Hillary Clinton was a factor in net sales falling to $557 million in 2018 from an average $885.3 million from 2012 to 2016, with an accompanying glut of inventory.
Dick’s, meanwhile, decided after 17 people died at the Feb. 2018 Parkland, Florida school shooting to stop selling guns to people under 21, a decision also made by Walmart Inc, and to remove assault-style rifles from its stores. In March, Dick’s decided to end firearms sales at 125 stores.