Colt Firearms Nears Bankruptcy

[OakRidgeStars]

The old adage of 'Innovate or Die' must have been forgotten at Colt Firearms. It'll be sad to see this historic manufacturer fade away into the history books.

http://www.dcclothesline.com/2015/06/13 ... ankruptcy/

[MarcSpaz]

That will be a large amount of suck. Hopefully some company with an owner who always loved Colt will swoop in, by them up and get them on the right track. If not..

[ Post made via Mobile Device ]

[Swampman]

Colt will not be allowed to fade into history. The name is too well recognized and respected.

[MarcSpaz]

No thanks. I heard that before. I sounded like "freddie mac, fannie mae and GM are too big to fail", and then 800 billion dollars disappeared.

Though, I doubt brand recognition will go away anytime soon if they do fail.

Maybe they should do what Al Sharpton did. Go bankrupt, screw everyone, and then start a new company called Colt's Manufacturing Company International LLC.

The libs should love them after a stunt like that.

[bikiboki]

Can't be!!! I'm almost 69 and would be crying so loud that you'd hear me sobbing all over the Commonwealth >

Bill

[Ron71]

Wow. I just bought a Single Action Army through gunbroker because the wait was over 2 years for a new one. Now maybe I know why? This is very sad news indeed, I wouldn't have shed a tear to have seen S&W go under after caving to Clinton back in 2000. ( http://www.businessinsider.com/smith-an ... ing-2013-1 ) I hope this isn't the end for such an icon of the American firearms industry.

[Swampman]

Marc - not suggesting a gov't bailout is the remedy. If that's the only way they keep afloat, then let them go. What I am suggesting is that private investment will pick up the shattered remains and inject some life into the company. If that doesn't happen, then I'll be waving bye with everyone else.

[dorminWS]

A government bailout of Colt would probably result in the production of "smart guns", the discontinuation of production, parts and service of ARs and other "bad" guns and other anti-gun rights meddling. I'd rather see them go away as see them become an instrument of the Fabian strategy of the Obamunists.

[Snakester]

It would be a sad thing to see Our Govt. bailout and take over Colt. They need to stick with Banking and Auto Manufacturing ......You know , the things they really know all about !

[flyingron]

Looks like there's someone already posturing to buy them and keep them going. Hopefully they will bring in some management (or hit the guys there with the clue stick). The days of living on government contracts is probably over (especially, if you're not going to advance the art to compete with others).

[MarcSpaz]

Marc - not suggesting a gov't bailout is the remedy. If that's the only way they keep afloat, then let them go. What I am suggesting is that private investment will pick up the shattered remains and inject some life into the company. If that doesn't happen, then I'll be waving bye with everyone else.

Oh, God... no. I didn't think that's what you were implying. I was just using it as an opportunity to take a jab at the Administration.

I'm completely fine with a private sector free market buy out to keep it going.

[Swampman]

Jab away, brother! Can I jab too?

[MarcSpaz]

Oh yea. Its a jab fest. It's even okay to poke it with a stick. LOL

[ShotgunBlast]

Hi-Point will buy them and sell their products under the Colt brand. Then you guys will have a real reason to cry. lol

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[MarcSpaz]

Tommy Boy comes to mind every time someone mentions Hi-Point.

"If you want me to crap in a box and mark it guaranteed, I will, I have spare time. But, all you'll have is a guaranteed piece of crap. If you want a quality product, you'll buy my parts."

[ Post made via Mobile Device ]

[Oakes]

They filed for Chapter 11 BK

[dorminWS]

They filed for Chapter 11 BK

>>>>>>>>>>>>>>>>>>>>

That's just reorganization. They may emerge from this in better shape than when they went in.

[grumpyMSG]

As long as the company maintains the same leadership. it will continue down the same path. They relied on politicians and no bid contracts to stay in business, instead of innovative ideas. As long as they had the government buying their product, they didn't need to sell to anybody else. Throw in the facts,they are situated in the liberal utopia of Connecticut and are a union business. My estimate is, the only way they survive is if somebody else buys them out.

[OakRidgeStars]

Colt's debt load is pretty high. Unless they can contact the spirit of John Browning, they don't have much of a chance of surviving the vultures picking at their dying carcass.

[FiremanBob]

The company will emerge from bankruptcy intact as a going concern, with some of the debt expunged and much of it converted into new equity. This is typical of modern corporate bankruptcies. The company has to be truly valueless to be sold off in pieces - think Radio Shack.

Colt has been a management, technological, marketing and financial joke for a long time. It once had the resources to be at the leading edge of firearm innovation. Its management decided to "harvest" its aging product lines instead.

This is what you get when you stand still.