HomeNewsNRA Files For Bankruptcy, Announces Move from New York to Texas

NRA Files For Bankruptcy, Announces Move from New York to Texas

by Chris Haney
(Photo by Scott Olson/Getty Images)

In a statement released on Friday, National Rifle Association (NRA) CEO Wayne LaPierre announced the organization is filing for bankruptcy. In addition, LaPierre shared details of the NRA’s plans to move its headquarters from New York to Texas.

The CEO described the NRA’s current headquarters as being located in “the toxic political environment of New York.” He also mentioned the organization’s plans to relocate to an unnamed city in Texas in the near future. LaPierre’s comments on the organization were sent in a letter to NRA members on Friday.

“The plan can be summed up quite simply. We are dumping New York, and we are pursuing plans to reincorporate the NRA in Texas,” LaPierre wrote, according to a Fox Business report by Michael Ruiz.

The statement assures NRA members that the bankruptcy won’t impact their memberships. LaPierre says that the guns rights group will continue to publish their magazines. Additionally, he said the NRA will continue to train citizens on firearm safety and hunter safety.

“NRA supporters will continue to enjoy all their full member benefits – from new members to Life Members to Benefactor Members. (We’ll) 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,” LaPierre explains. “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.”

In recent years, the NRA has come under fire in New York and still faces multiple legal issues. In August, New York’s Attorney General Letitia James sued the NRA, LaPierre, and three other current and former executives. James sued the nonprofit organization and its leaders for allegedly losing $64 million in company funds.

Furthermore, James is seeking to have the NRA dissolved in court because of the allegations of financial fraud.

“The NRA’s claimed financial status has finally met its moral status: bankrupt,” James said on Friday. “While we review this filing, we will not allow the NRA to use this or any other tactic to evade accountability and my office’s oversight.”

The group countered James’ lawsuit with their own. The organization alleges that James specifically targeted them for their political affiliations. The countersuit also claims that their rights to free speech have been violated as a nonprofit.

In November, the gun rights group settled a legal battle in New York over an insurance case. The group settled for $2.5 million without admitting any wrongdoing. More recently, the NRA contributed at least $4.5 million to conservatives in the Georgia Senate runoff elections. However, both Republican candidates lost to their Democratic opponents.

[H/T Fox Business]