The NRA is the US’s most politically influential gun-rights group (Picture: AP)
The National Rifle Association (NRA) has filed for bankruptcy – but says it is part of a restructuring plan rather than financial problems.
The US’s most politically influential gun-rights group plans to move to Texas from New York where it was originally established.
The organisation said in a statement: ‘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.’
It comes four months after the New York Attorney General filed a lawsuit to dissolve the NRA for allegedly diverting tens of millions of dollars for lavish personal trips and other questionable expenditures.
The group has filed for Chapter 11 bankruptcy in a Dallas federal court – but bosses told five million members it was ‘in its strongest financial condition in years’.
They wrote: ‘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.’
Although the NRA was established in New York, it has its headquarters in Virginia (Picture: Reuters)
The Association has named the Attorney General’s lawsuit a ‘gross overreach’, blasting the ‘vow’ to put them ‘out of business through an abuse of legal and regulatory power’.
The coronavirus pandemic pushed the guns rights organisation to lay off dozens of employees last year. The group also cancelled its national convention, while fundraising was hampered.
The NRA’s headquarters remain in Virginia, with the bankruptcy not affecting members.
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