Latest / Durham News Today | 2 Min News | The Daily News Now!
Hutco Files Bankruptcy Amid Industry Decline | Durham News
Hutco Corporation, parent company of Delta Hawk Sportsman Gun & Pawn, is filing for Chapter 11 bankruptcy to restructure amid mounting civil claims and mounting debt—joining a growing list of firearms industry casualties. Despite a 5.4% jump in average gun prices, overall sales volume continues to decline, undercutting hopes that eliminating the National Firearms Act tax would revive demand. With over $337K in liabilities against just $159K in assets, Hutco’s financial strain is compounded by its diverse operations, including security, auto dealerships, and medical transport, all now under…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.