Authorities have seized a significant inventory of firearms from Gulf Coast Gun & Outdoors in Milton, Florida, after the owner defaulted on a loan exceeding $500,000. Court documents reveal that Chris Smith failed to address payment requests from Lakeland West Capital, a Texas-based bank, leading to a court-ordered seizure of rifles, shotguns, and related equipment.
This incident follows previous legal troubles for the gun shop, which is also facing lawsuits from two additional financial institutions over missed payments. While Smith claims he is negotiating new terms after his loan was sold to “loan sharks,” he faces increasing scrutiny as he insists on the store’s operational viability, stating that it will reopen for business shortly after the raid.
Read full story at weartv.com
