A gun seller that stocked up assuming a Hillary Clinton Hillary Diane Rodham ClintonFox News poll: Biden ahead of Trump in Nevada, Pennsylvania and Ohio Trump, Biden court Black business owners in final election sprint The power of incumbency: How Trump is using the Oval Office to win reelection MORE victory ahead of the 2016 election filed for Chapter 11 bankruptcy this week, according to Bloomberg.

United Sporting Cos., which sells various outdoor equipment in addition to guns, banked on a Clinton victory to drive a surge in demand, but President Trump Donald John TrumpSteele Dossier sub-source was subject of FBI counterintelligence probe Pelosi slams Trump executive order on pre-existing conditions: It 'isn't worth the paper it's signed on' Trump 'no longer angry' at Romney because of Supreme Court stance MORE’s win left it with high carrying costs for unsold inventory and sales below expectations, according to a court declaration by CEO Bradley P. Johnson.

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United filed for Chapter 11 bankruptcy on Monday to protect itself from creditors, according to Bloomberg. The company has $270 million in debt and reported a steep drop in net sales in 2018, going from an average of $885.3 million from 2012 to 2016 to $557 million last year, according to the publication.

In an objection to the filing, one of United’s creditors, Prospect Capital Corp., said mismanagement by Wellspring Capital Management, the company’s largest equity owner, was to blame for the decline, according to Bloomberg.

At the beginning of the decade, United was the biggest distributor of firearms in the U.S., but after Wellspring made a series of recapitalization deals to “cash out” more than $183 million in 2012 and 2013, the firm appointed fiduciaries who “depleted all reserves necessary to weather the storms and the headwinds the business would face,” the objection states, according to Bloomberg.