Colt goes into Chapter 11 Bankruptcy

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Niner
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Colt goes into Chapter 11 Bankruptcy

Post by Niner » Tue Jun 16, 2015 2:31 pm

They plan to do a GM it looks like. Glad I'm not a stock holder. Part of the problem was that other companies undercut their prices on the black gun market and the Army stopped buying their rifles.

http://www.usatoday.com/story/money/bus ... /71228058/
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rice paddy daddy
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Re: Colt goes into Chapter 11 Bankruptcy

Post by rice paddy daddy » Wed Jun 17, 2015 2:14 pm

Those reasons plus Connecticut's heavy business regulation and taxation, and the excessive labor cost.
Most, if not all, of the other firearm manufacturers have left for other states. I seem to remember reading when Winchester moved out in 2006 that they hadn't had a profitable year since WWII.

I like Colt products, I have a few. I hope they can restructure somewhere in the South where business is seen as a good thing. Maybe South Carolina or Tennessee.
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