#SharpsRifleCompany

It seems that the Sharps Rifle Company has filed for bankruptcy. According to documents filed with the Wyoming District U.S. Bankruptcy Court, Sharps filed for bankruptcy on December 31st of 2019. The Sharps bankruptcy filings show that Sharps has been struggling for quite a while now. Back in 2017, the rifle company brought in just over $1 million in gross revenue. In 2019 Sharps only brought in $578,000.

Broadsword Group, LLC, the owners of Sharps Rifle Company (makers of the Relia-Bolt and .25-45 Sharps upper receivers for the AR-15), has been ordered to pay nearly three quarters of a million dollars to one of its founding members, Michael H. Blank, by the US District Court of Eastern Missouri. The case began when Blank alleged that Sharps Rifle Company owed him stake in the company and that they had walked away with intellectual property (IP) that he owned. Most significantly, perhaps, is the ruling on allegations of fraud against both Broadsword Group’s President and their CEO:

While many firearm companies in the last year are having layoffs, consolidation or talk of bankruptcy, Sharps Rifle Company looks to expand. They recently dropped a press release statement through “The Shooting Wire” on July 12th detailing their excited expansion.