Wednesday, June 12, 2019

Well!

I'm catching up on my email, among which are copies of the Tactical Wire for Jun 11 and the Shooting Wire for June 12. While each are always interesting in total, the editorial content at the end of each is spectacular and thought-provoking.

The bankruptcy filing of SportCo earlier this week has had tongues wagging all about the Intertubz, since SportCo claims they went bankrupt because they made a bet on the Hildebeast winning the 2016 election, which she didn't. Leftists and gungrabbers all loved the concept and just the simple fact that a major retailer of firearms and a major distributor of firearms would be dead.

Well, like the man said, you ain't seen nothing yet. According to those Wire articles I linked above, lawsuits have been filed against SportCo in South Carolina, alleging the owners, various hangers on and John Does 1-100 effectively plundered the company. To make matters worse, this will wind up not as a Chapter 11 bankruptcy (reorganization) but a Chapter 7 bankruptcy (liquidation). You'll want to read them both, and I'd subscribe so you can see what Jim Shephard releases next.

You get the chairs and I'll start the popcorn popping. This may be the biggest scandal to rock the firearms industry and one of the biggest fraud scandals in a long time. As Jim points out, there is also going to be a lot of second-nth level fallout from this, so watch your favorite manufacturers. We may all need to do a little shopping with them to lend a hand with those bottom lines.

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