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Colt Chapter 11

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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 09:28
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Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 10:25
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For whatever reason, Colt has been in financial turmoil for most of its entire existence as a result of bad business decisions, labor problems, QC issues, and general mismanagement. This is at least the 2nd time it's filed for Chapter 11 (I recall another time in the 1990's), but they've teetered on the brink of going out of business off and on for so long, I wouldn't be surprised if it's happened more than twice. It's a shame, as Samuel Colt was a great firearms designer that changed history.
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 10:57
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Colt signed a deal (and was afforded huge tax incentives) to open up a plant in Kissimmee, FL a couple of years ago. They never showed up and the local county commissioners were PO'd to say the least. Based on that, I figured they were basically toast!
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 16:37
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Sad, for sure.  
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 16:57
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Sheesh....That sucks. 
Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 18:38
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Colt has pursued Government Contracts to the detriment of the Sporting Division.  If they lose Government Contracts they are left holding the bag.  



Post Options Post Options   Thanks (0) Thanks(0)     Back to Top Direct Link To This Post Posted: June/23/2015 at 20:35
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They also recently purchased LWRC International which I thought might have something to do with increasing capacity to produce professional grade piston ARs since militaries seem to be moving in that direction for hard use ARs.  One way or the other assuming they survive they need to get out of the Northeast to upgrade manufacturing, reduce operating costs and go somewhere that firearms manufacturing is welcomed.
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