Deals
Gun Seller That Bet Big on Hillary Clinton Getting Elected Goes Bankrupt
- Inventory swelled ahead of anticipated 2016 Democratic victory
- Wellspring, Prospect and Summit control more than 90% stake
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Firearms distributor United Sporting Cos. loaded up on guns ahead of the 2016 U.S. presidential election, expecting a surge in sales would follow the election of a Democrat. Then Hillary Clinton lost.
The miscalculation sparked a multi-year decline that has reached the courthouse steps in Delaware, where United filed Chapter 11 bankruptcy on Monday.