Colt Firearms Files Chapter 11 Bankruptcy (1 Viewer)

[LOONEY]

wow im shocked by this news
WEST HARTFORD, Conn.--Colt Defense LLC (“Colt” and the “Company”) announced today in voluntary Chapter 11 materials filed in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) a process that will allow for an accelerated sale of Colt’s business operations in the US and Canada.
Colt Defense Announces Fast Track Restructuring > Colt's Manufacturing Company LLC

 

[SUGrad03]

They put all their eggs in the gov contract basket. .... no innovation; and you can get good ARs all over now.

 

[ChrisK]

Yeah, not surprised. When FNH got that big military contact a few years ago, the writing was on the wall.

As SUGrad said, no innovation. Better firearms out there for less $$.

 

[JBryan314]

I recently had an "anti-gun" person tell me it's because Americans are turning away from guns, but then I explained the details of why this is happening to Colt alone. They actually opened their mind and understood it. Colt could really be rolling in the dough like the other makers but they turned to government contracts and ignored the people.

I have a Colt M4 and I aim to get a Colt Government Model 1911. That'll probably be the only Colts I ever own until my wife's dad passes his Anaconda revolver to her. Colt makes good stuff, they just aren't innovating right now. Hopefully they get this stuff figured out.

 

[Goatman Saint]

Colt has spent a lot of time resting on history and name, with very little improvement or creativity in their products. That, and trying to go for big money military cost them dearly. Hopefully they can get back to the leading edge they once were, I somehow doubt it though

 

[Sundevil]

Over priced. I agree that they also lacked much innovation. That sat on their rears and expecTed people to continue to pay top dollar for their product. 1911's are great pistols, but there are better firearms out there for a better price. Sad that they allowed it to get to this point.

 

[JBryan314]

Colt has apparently requested that Connecticut bail them out. This will be their fourth request in ten years. You'd think they'd learn.

 

[Semper]

Part of the problem is these groups that have bought Colt and then sell the name and no quality product for the price. This is the 3rd or 4th bankruptcy for Colt I believe.