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1/15, 10:38 PM (Source: TeleTrader)
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NRA files for bankruptcy, to restructure in Texas

The National Rifle Association (NRA) announced on Friday it filed for bankruptcy as part of a restructuring plan.

The association will restructure in Texas as a non-profit organization in order to avoid "a corrupt political and regulatory environment in New York."

Previously, New York Attorney General Letitia James said the state is seeking to dissolve the NRA, claiming the group is "fraught with fraud and abuse."

Breaking the News / MD