39-year-old ammunition manufacturer files Chapter 11 bankruptcy

A 39-year-old ammunition manufacturer, Mead Industries Inc., filed for Chapter 11 bankruptcy protection on September 2, 2026, according to court documents. The Wood River, Nebraska-based company, which specializes in high-quality precision hunting bullets, machinery, and ammunition components, is seeking to reorganize its business amidst financial difficulties.

Mead Industries listed over $7.1 million in assets and over $6.4 million in debts in its bankruptcy petition. The company's largest creditors include Kentucky's Best Hemp Inc., Hiawatha National Bank, FNBO, Gunwerks LLC, company owner Gregory A. Mead, and AMDG Enterprises. These creditors are owed over $1.85 million, $1.3 million, $544,000, $346,000, over $521,000, and over $304,000 respectively.

Founded in 1977, Mead Industries was initially established to manufacture high-quality precision hunting bullets and provide machinery, equipment, and components for leading ammunition manufacturers worldwide. However, the company has experienced a steady decline in gross revenue over the last three years, dropping from over $2.4 million in 2024 to over $1.3 million in 2025.

The firearms industry as a whole has faced declining sales in recent years, with sales down 4.1% to around 14.6 million units in 2025, according to the National Shooting Sports Foundation. New firearm unit sales declined by 7.6% year-over-year in the first quarter of 2026, while overall revenue increased slightly by 4.5% as consumers focused on high-end rifles and handguns.