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/
Colt goes into Chapter 11 Bankruptcy
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Re: Colt goes into Chapter 11 Bankruptcy
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.
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.
There is nothing so exhilarating as to be shot at without result.
Winston Churchill
Member: VFW, Vietnam Veterans of America, American Legion, Society of the 5th Infantry Division
Winston Churchill
Member: VFW, Vietnam Veterans of America, American Legion, Society of the 5th Infantry Division