Colt Defense files for bankruptcy

[Scarywoody]

Filed for Chapter 11 bankruptcy. Not their first time. Here's the story...http://www.ft.com/cms/s/0/9497f82c-134b-11e5-bd3c-00144feabdc0.html#axzz3d8V5tftx

[Nimrod]

Sad news. That's what happens when you depend too much on government contracts. Hope they can downsize and reorganize enough to survive. Glad I have my Colt AR-15 M4.

[Bawanna]

Yup, Colt sadly left the private consumer out of the equation for far too long. I don't have a crystal ball but I did see this one a coming. Again it isn't the first time this has happened either.

Hopefully they review history a bit and get back into the consumer market while still taking care of our military and LE folks.

[Longitude Zero]

Once they abandoned the consumer for the government teat they started their demise. SIG would do well to learn that same lesson. Their customer service Sucks Monkey Balls. They are sucking the governments teat way too much. That fact is pretty clear when they announce a product and SHOT and it hits the consumer market years later if at all!!! Some idiots are demanding the return of the Python and Anaconda line at prices less than half what it cost to manufacture. Pythons were all hand fitted and Anacondas pretty much. You cannot get that at sub 1K prices on todays marketplace. Another issue is the dipshat customers of all brands want First Class products at stearage prices. Wake up folks quality is not cheep.

[Armybrat]

Yep, they've been on the brink for quite some time.

However, When Colt gets reorganized I sure hope the company doesn't get bought up by some foreign conglomerate and production moved overseas like Winchester did. And to let all the current manufacturing staff go would be a crime, IMO. They have been putting out a very quality product equal to their best standards ever in recent years.

Am glad I bought my M4 last fall too..... and will still look for a new SAA in .357.

[Longitude Zero]

Recovery does not look promising. Sciens Capital load up the company with virtually insurmountable debt. My guess is that it will be sold off piecemeal.

[ltxi]

Recovery does not look promising. Sciens Capital load up the company with virtually insurmountable debt. My guess is that it will be sold off piecemeal.

Yeppers....Colt/the Colt brand got raped, pillaged, and gutted by their holding company.

[b4uqzme]

...SIG would do well to learn that same lesson...

my local gunsmith advised me that his distributors are warning him off Sig products right now. Hearsay at best. TIFWIW.

[marcinstl]

the arms and ammunition biz is "for profit", owned and operated for a profit by investors who think a return on capital is possible. deals are made, money is made, round and round it goes. if I buy a used gun from the local gun store, the owners of the store make some money, I'm happy to be part of that, both parties to the trade got what they wanted. I can't think of a current day company that I would support by buying a new gun and sending them money. so, Colt, for instance, can come and go. Remington, S&W, Ruger are all on that list to.
now, the good news is I just bought a Colt. the gun, a Colt Official Police(COP), was built in 1937 and as of yesterdays range session, continues to out perform the shooter. in 1937, Colt knew how to produce a revolver with a good DA trigger.

[mr.ed]

Marcinstl - when you get tired of that 1937... Just sayin! Congrats on the find.

[deadeye]

Look for the union label.