Glenrock-Based Gun Manufacturer Declares Bankruptcy
A gun building company in Glenrock filed for bankruptcy earlier this week.
Sharps Rifle Company said it owes creditors more than $4 million in Chapter 11 bankruptcy proceedings filed Tuesday. Because the company filed Chapter 11 bankruptcy, it will keep its doors open as it restructures its debts and assets.
Sharps owes more than $1.9 million to Aviacion LLC and $1 million to El Morro LLC.
The company also owes $853,986 in an apparent judgment, bankruptcy filings say.
According to its website, Sharps Rifle Company manufactures AR and MSR-style rifles.
In addition to firearms, the company also builds gun parts such as bolt carriers.