Crashing Down: United Sporting, Ellett File for Chapter 11, Face Lawsuit

By Dave Workman

U.S.A. –-(Ammoland.com)- Described in court documents as “the largest distributor of firearms in the United States,” Ellett Brothers—the South Carolina-based company that is part of a larger business family known as SportCo Holdings—has filed for Chapter 11 bankruptcy and is one of the “relevant non-parties” in a lawsuit alleging “gross mismanagement” and non-payment of tens of millions of dollars in loans.

It’s a troubling tale that has been reported by Reuters, Fox Business and other news organizations, and according to The Outdoor Wire, the downfall could involve more than “the long-term impact the failure will have on an already turgid business environment.”

In addition to Ellett, the SportCo Holdings umbrella covers United Sporting Companies, Inc. (USC), and Ellett-owned companies Simmons Gun Specialties, Evans Sports, Inc., Jerry’s Sports, Inc., Bonitz Brothers, Inc., and Outdoor Sports Headquarters, Inc. All are headquartered in Chapin, S.C.

According to The State, an honored South Carolina newspaper dating back more than a century, Ellett has announced that it will lay off more than 170 …Read the Rest

Source:: AmmoLand