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The
Below Comments Relate to this Newslink:
WSJ: Colt to File for Chapter 11 Bankruptcy Protection Tomorrow
Submitted by:
Bruce W. Krafft
Website: http://www.keepandbeararms.com/
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"'Gun maker Colt Defense LLC plans to file for chapter 11 bankruptcy protection by Monday, according to people familiar with the matter, amid business and accounting troubles. The company has secured financing to continue operating while in bankruptcy and expects to remain in business after the restructuring, the people said.' The combination of years of indifference toward the civilian market combined and the gut-punch that was losing most of its military AR business have finally caught up to Colt . . ." ... |
| Comment by:
Millwright66
(6/15/2015)
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Kinda sad to see an old established brand falling into the clutches of the wolves, but Colt management has had plenty of opportunity to build a faster troika. The handgun and CCW market has exploded in the past decade or so. Colt management failed to; 1) note the market trend, 2) divert funds from product line losers production to developing winners in the emerging marketplace.
BTW, didn't we see this tale before ? |
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| QUOTES
TO REMEMBER |
| Are we at last brought to such humiliating and debasing degradation, that we cannot be trusted with arms for our defense? Where is the difference between having our arms in possession and under our direction, and having them under the management of Congress? If our defense be the real object of having those arms, in whose hands can they be trusted with more propriety, or equal safety to us, as in our own hands? — Patrick Henry, 3 J. Elliot, Debates in the Several State Conventions 45, 2d ed. Philadelphia, 1836 |
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