RIP, NRA. Thoughts and prayers.
The National Rifle Association has filed for bankruptcy, and the organization will legally move from New York to Texas, with plans to operate as a non-profit.
The NRA lists assets and liabilities between $100 million and $500 million each, and its bankruptcy petition is signed by Wayne LaPierre.
The NRA filed the Chapter 11 petitions in U.S. Bankruptcy Court in Dallas, it said in a news release.
The NRA said it would restructure as a Texas nonprofit to exit what it said was a "a corrupt political and regulatory environment in New York" state, where it is currently registered.
The influential group said in a statement there would be no immediate changes to its operations or workforce, and that it "will continue with the forward advancement of the enterprise – confronting anti-Second Amendment activities, promoting firearm safety and training, and advancing public programs across the United States."