The shooting sports wholesaler is another casualty of the 2016 presidential election, when it had borrowed to stock up expecting a spike in demand after a Clinton victory. Instead, sales fell 30% in 2017, putting the company in violation of its fixed charge coverage ratio covenants. After multiple forbearances from lenders and months of looking for a buyer, United Sporting Companies-owned Ellett came in with a $7,750,000 offer for its assets. The voluntary filing lists $10 to $50 million in assets and $50 to $100 million in liabilities and has DIP financing in place from the company’s ... Log in to view full article.