The Brady Center to Prevent Gun Violence announced today that the organization has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Columbia, for the purposes of reorganizing its debts. The group reportedly has blamed its bankruptcy “on the recession, inability to raise new funding, the NRA and a hacked E-Trade account.”
“We will reorganize and come back fighting stronger than ever.” said president Paul Helmke. “At this time we are looking for other avenues of refinancing and some appear to be promising.” Earlier on the week, rumors of trouble flew across Washington when it was known that Sarah Brady had approached the Joyce Foundation for a loan and was rejected. The rumors about the Brady’s potential bankruptcy became stronger when Joan Peterson was seen at a local gas station buying $30 worth of scratch-off lottery tickets.
Sarah Brady refused to comment about the filing.