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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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To have no proud monarch driving over me with his gilt coaches; nor his host of excise-men and tax-gatherers insulting and robbing me; but to be my own master, my own prince and sovereign, gloriously preserving my national dignity, and pursuing my true happiness; planting my vineyards, and eating their luscious fruits; and sowing my fields, and reaping the golden grain: and seeing millions of brothers all around me, equally free and happy as myself. This, sir, is what I long for. -- General Francis Marion, American War of Independence, Georgetown, SC [Source: 'Marion, The Life of Gen. Francis Marion' by M. L. Weems, Ch.18] |
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