Posted June 20, 2018 12:30 pm by Comments

By Daniel Terrill

Freedom Munitions is one of the eight brands owned by the Idaho-based Howell Munitions & Technology. (Photo: Freedom Munitions via Facebook)
Idaho-based ammunition company Howell Munitions & Technology filed for chapter 11 protections, connecting financial woes to poor management and declining sales since President Trump’s surprise election victory in 2016.
Howell filed the voluntary petition for bankruptcy in a Nevada federal court last week. The company serves as the umbrella for eight brands — including Freedom Munitions and X-Treme Bullets — for manufacturing, assembling and distributing its own products. The amount of debt is not immediately clear, but Howell owes some $5.4 million to its top 20 debtors, according to court filings.
Howell’s financial difficulties trace back to 2016, when the company increased its debt by expanding operations and building up inventory in anticipation of Democratic candidate Hillary Clinton winning the presidential election. Leading up to the November 2016 election, gun and ammo sales spiked as a response to Clinton who was favored to win and made gun control a key part of her campaign, but the market softened after Republicans took control of the White House and both chambers of Congress. National gun sales in 2017 fell by 12 percent from the

Source: Guns.com

Leave a Reply

Your email address will not be published.