Glenrock, Wyo.-based firearms manufacturer Sharps Rifle Company has filed for chapter 11 bankruptcy after years of declining revenue and growing debts, according to documents filed Dec. 31, the Casper (Wyo.) Star Tribune reported. According to the documents, filed with the U.S. Bankruptcy Court for the District of Wyoming, the company owes more than $4 million in total, spread between nine different creditors. The debts range in amounts from less than $2,000 to nearly $2 million for services covering advertising to working capital to equipment. The debt also includes a $835,986 judgment levied by a Missouri court to be paid to a former owner of Sharps for fraud and intellectual property violations. The filings show the company struggling over the last few years. In 2017, Sharps brought in a little more than $1 million in gross revenue. In 2019, it took in only $578,000.
