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Colt Chapter 11 |
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tahqua
MODERATOR Have You Driven A Ford Lately? Joined: March/27/2006 Location: Michigan, USA Status: Offline Points: 9042 |
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Posted: June/23/2015 at 09:28 |
Doug
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RifleDude
MODERATOR EVIL OPPRESSOR Joined: October/13/2006 Location: Texas Status: Offline Points: 16337 |
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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.
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Ted
Money can't buy happiness... but it's much more comfortable to cry in a Porsche than on a bicycle. |
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bugsNbows
Optics God bowsNbugs Joined: March/10/2008 Location: North Georgia Status: Offline Points: 11200 |
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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!
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If we're not suppose to eat animals...how come they're made of meat?
Anomymous |
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Kickboxer
MODERATOR Moderator Joined: February/13/2008 Status: Offline Points: 23679 |
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Sad, for sure.
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Opinion,untempered by fact,is ignorance.
There are some who do not fear death... for they are more afraid of not really living |
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cheaptrick
MODERATOR Joined: September/27/2004 Location: South Carolina Status: Offline Points: 20844 |
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Sheesh....That sucks.
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If at first you don't secede...try..try again.
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Son of Ed
Chuck Norris Joined: June/18/2011 Location: TEXAS Status: Online Points: 122167 |
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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.
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Visit the Ed Show
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Rainman
Optics Apprentice Joined: August/25/2012 Location: Washington Stat Status: Offline Points: 281 |
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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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"Political correctness is a doctrine, fostered by a delusional, illogical minority, promoted by mainstream media, which
holds forth that it is entirely possible to pick up a turd by the clean end." |
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