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  • glockman19
    Banned
    • Jun 2007
    • 10486

    Colt Firearms

    Colt Defense MAY miss a bond payment on November 17, that would put them in default. They would have a 30 day grace period.

    The Payment is $10.9 Million and they only have $1 million.



  • #2
    OpticsPlanet
    Vendor/Retailer
    • Apr 2009
    • 2129

    Wouldn't be the first time they went bankrupt.

    Tim G.
    CalGunners: Take 5% off your order of $50 or more at OpticsPlanet by using coupon code CALGUNS! Some exclusions apply.

    OpticsPlanet
    http://www.opticsplanet.com
    Toll-Free (888) 504-7864
    Send us a private message if we can be of help!

    Comment

    • #3
      hawks
      Member
      • Jun 2005
      • 457

      This article from May of this year lays out a sorry tale.
      http://www.businessweek.com/articles...fter-crisis#p1.

      Investment company that owns Colt loaded it up with debt and then took payouts.

      Comment

      • #4
        toby
        Banned
        • Jan 2010
        • 10576

        Really they only have one million BS! And oh well hire stupid people have a failing business.

        Comment

        • #5
          JohnCCW
          Senior Member
          • Jan 2013
          • 1307

          Hopefully they will go bankrupt and somebody who wants to run the company right, will buy it and start producing quality DA revolvers again.

          They are a defense company now, not very consumer friendly- for years and years.
          sigpicDon't ask how many guns I own, I lost count.
          Rick Perry, Ted Cruz Trump for President 2016, because Hillary is NOT an option.

          Comment

          • #6
            California44
            Senior Member
            • Nov 2012
            • 1092

            Everyone dros a new colt today. Problem solved.

            Comment

            • #7
              toby
              Banned
              • Jan 2010
              • 10576

              Drosing a new Colt would only profit the Commanders in charge and the Co would still go under.

              Comment

              • #8
                PolishMike
                Calguns Addict
                • Nov 2007
                • 6034

                This is what it boils down to in my book:

                They weren't able to produce enough product when the demand was high and now they are producing a ton when demand is low.
                Artist formally known as CEO of Tracy Rifle and Pistol

                Comment

                • #9
                  VegasND
                  Calguns Addict
                  • Aug 2007
                  • 8621

                  I love my Colts.

                  But ...

                  The company has been horribly mismanaged for quite some time.
                  People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome.
                  --River Tam

                  Comment

                  • #10
                    The Gleam
                    I need a LIFE!!
                    • Feb 2011
                    • 12388

                    Originally posted by JohnCCW
                    They are a defense company now, not very consumer friendly- for years and years.
                    Colt. Because you suck. And we hate you.
                    -----------------------------------------------
                    Originally posted by Librarian
                    What compelling interest has any level of government in knowing what guns are owned by civilians? (Those owned by government should be inventoried and tracked, for exactly the same reasons computers and desks and chairs are tracked: responsible care of public property.)

                    If some level of government had that information, what would they do with it? How would having that info benefit public safety? How would it benefit law enforcement?

                    Comment

                    • #11
                      rockblaster
                      Banned
                      • Aug 2007
                      • 170

                      Own= woodsman and Python, the finest ever! I hope they can pull out of this mess as Colt is iconic.

                      Comment

                      • #12
                        russ69
                        Calguns Addict
                        • Nov 2009
                        • 9348

                        Colt has missed the cowboy shooting craze, the AR15 boom, the 1911 growth, and classic DA revolver business. They don't deserve to be in business.
                        sigpic

                        Comment

                        • #13
                          Steve_In_29
                          Banned
                          • Nov 2009
                          • 5682

                          Originally posted by russ69
                          Colt has missed the cowboy shooting craze, the AR15 boom, the 1911 growth, and classic DA revolver business. They don't deserve to be in business.
                          ^^^This!!!

                          Of course being totally mismanaged sure didn't stop the banks and GM/Chrysler from being saved by tax dollars.

                          Comment

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