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#5789520 - 06/15/15 08:38 AM Colt files for chapter 11
kmon1 Online   content
junior

Registered: 09/27/06
Posts: 21397
Loc: Texas
Gun maker Colt Defense LLC said late Sunday it is filing for chapter 11 bankruptcy-court protection, amid business-execution issues and a heavy debt burden.

http://www.wsj.com/articles/colt-defense...nday-1434310925
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#5789587 - 06/15/15 09:21 AM Re: Colt files for chapter 11 [Re: kmon1]
kry226 Offline


Registered: 01/11/09
Posts: 5109
Loc: Germany
Not surprised. At all.

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#5789622 - 06/15/15 09:41 AM Re: Colt files for chapter 11 [Re: kmon1]
DStroud Online   content
Pro Tracker

Registered: 11/02/11
Posts: 1427
Loc: Waco
I wonder if the value of my CR2012 went up or down? wink

Doesn't really matter it shoots so well it's not going anywhere. Of course that could be the Cooper half of the gun shining thru. cool

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#5789805 - 06/15/15 11:21 AM Re: Colt files for chapter 11 [Re: kmon1]
BassCat'99 Offline
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Registered: 02/15/13
Posts: 1085
Loc: Stratford Texas
Which Military contract caused this? Which weapon?
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#5790141 - 06/15/15 02:46 PM Re: Colt files for chapter 11 [Re: kmon1]
syncerus Offline
Veteran Tracker

Registered: 12/01/08
Posts: 2240
Loc: Dallas, TX
What a poorly run company. The management team should really be ashamed of themselves. In the midst of the greatest boom in firearm sales in American history when the average units sold went from 5 million per year to 10 million per year, they managed to bankrupt one of the greatest brands ever by dangling after government contracts. Talk about snatching defeat from the jaws of victory.
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#5790440 - 06/15/15 06:15 PM Re: Colt files for chapter 11 [Re: kmon1]
Buzzsaw Offline
THF Trophy Hunter

Registered: 06/29/11
Posts: 8123
Loc: Frisco, Texas
too bad, hate to see anyone in the shooting sports go out of business, except CTD,
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#5790562 - 06/15/15 07:08 PM Re: Colt files for chapter 11 [Re: kmon1]
Beaubien Offline
Bird Dog

Registered: 02/18/15
Posts: 473
Loc: In the mountains east of ABQ
Didn't see that one coming, but then again I only have 1 Colt and it was made in 1957.

With all the gun sales in the last six years how could they possibly be hurting?

Samuel is undoubtedly rolling over in his grave.

I don't think they are going out of business, I think they are "reorganizing"


Edited by Beaubien (06/15/15 07:13 PM)
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#5790575 - 06/15/15 07:13 PM Re: Colt files for chapter 11 [Re: kmon1]
JCB Offline
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Registered: 02/06/07
Posts: 23009
Loc: M.I.A.
Hate to see it but they are not giving people what they want.

People want a good reliable polymer pistol. What does Colt have to offer?
People want a good bolt action hunting rifle. What does Colt have to offer?
People want a good single action revolver for a decent price. Colt has the SAA but at a premium price.
People want a good 1911. Colt makes that but competition is a killer.
People want a good AR15. Colt makes that too but competition in that market is very stout!
People want a good CCW. This is probably the fastest growing market and Colt should be eyeballing it but they arnt.

Company as big as Colt aint going to survive on 1911's and AR15's alone in such a competitive market.

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#5790583 - 06/15/15 07:17 PM Re: Colt files for chapter 11 [Re: JCB]
Beaubien Offline
Bird Dog

Registered: 02/18/15
Posts: 473
Loc: In the mountains east of ABQ
[quote=JCB]Hate to see it but they are not giving people what they want.

People want a good reliable polymer pistol. What does Colt have to offer?
People want a good bolt action hunting rifle. What does Colt have to offer?
People want a good single action revolver for a decent price. Colt has the SAA but at a premium price.
People want a good 1911. Colt makes that but competition is a killer.
People want a good AR15. Colt makes that too but competition in that market is very stout!
People want a good CCW. This is probably the fastest growing market and Colt should be eyeballing it but they

[\quote]
Well, that explains why I own one Colt and it was inherited.




Good post.


Edited by Beaubien (06/15/15 07:18 PM)
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#5790641 - 06/15/15 07:49 PM Re: Colt files for chapter 11 [Re: JCB]
Grizz Online   content
THF Trophy Hunter

Registered: 02/28/08
Posts: 6415
Loc: Granbury, TX
Originally Posted By: JCB
Hate to see it but they are not giving people what they want.

People want a good reliable polymer pistol. What does Colt have to offer?
People want a good bolt action hunting rifle. What does Colt have to offer?
People want a good single action revolver for a decent price. Colt has the SAA but at a premium price.
People want a good 1911. Colt makes that but competition is a killer.
People want a good AR15. Colt makes that too but competition in that market is very stout!
People want a good CCW. This is probably the fastest growing market and Colt should be eyeballing it but they arnt.

Company as big as Colt aint going to survive on 1911's and AR15's alone in such a competitive market.


Yep, tradition can only carry you so far.
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#5790706 - 06/15/15 08:29 PM Re: Colt files for chapter 11 [Re: JCB]
FiremanJG Offline
THF Celebrity

Registered: 12/16/08
Posts: 20464
Loc: Wolfe City, TX
Originally Posted By: JCB
Hate to see it but they are not giving people what they want.

People want a good reliable polymer pistol. What does Colt have to offer?
People want a good bolt action hunting rifle. What does Colt have to offer?
People want a good single action revolver for a decent price. Colt has the SAA but at a premium price.
People want a good 1911. Colt makes that but competition is a killer.
People want a good AR15. Colt makes that too but competition in that market is very stout!
People want a good CCW. This is probably the fastest growing market and Colt should be eyeballing it but they arnt.

Company as big as Colt aint going to survive on 1911's and AR15's alone in such a competitive market.


Absolutely.
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#5790719 - 06/15/15 08:37 PM Re: Colt files for chapter 11 [Re: BassCat'99]
68A Offline
Veteran Tracker

Registered: 09/29/12
Posts: 2438
Loc: North Texas
Originally Posted By: BassCat'99
Which Military contract caused this? Which weapon?


Most of the issued M16A2-M4 are/were Colt. At least in the Army.

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#5790774 - 06/15/15 09:15 PM Re: Colt files for chapter 11 [Re: kmon1]
10ring Offline
Tracker

Registered: 11/19/12
Posts: 840
Loc: Pilot Point, TX
I'm curious if "Colt Defense LLC" is a separate entity or subsidiary of "Colt" and that division is filing chapter 11?

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#5790848 - 06/15/15 09:51 PM Re: Colt files for chapter 11 [Re: Beaubien]
Colt W. Knight Offline
Veteran Tracker

Registered: 03/22/11
Posts: 2084
Loc: West Virginia
Originally Posted By: Beaubien
Didn't see that one coming, but then again I only have 1 Colt and it was made in 1957.

With all the gun sales in the last six years how could they possibly be hurting?

Samuel is undoubtedly rolling over in his grave.

I don't think they are going out of business, I think they are "reorganizing"


They lost the bid on US Govt M4s to FN.

Really is sad, but Colt has been out of touch for over a decade. Most of the real Colt factory guys jumped ship in the 90s when the suits took over the company.

My dad named me after Samuel Colt, so they will always be my favorite brand. I have a small collection of Colt firearms.



Edited by Colt W. Knight (06/15/15 09:53 PM)

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#5790878 - 06/15/15 10:16 PM Re: Colt files for chapter 11 [Re: JCB]
patriot07 Offline
Pro Tracker

Registered: 11/06/11
Posts: 1393
Loc: Royse City, TX
Originally Posted By: JCB
Hate to see it but they are not giving people what they want.

People want a good reliable polymer pistol. What does Colt have to offer?
People want a good bolt action hunting rifle. What does Colt have to offer?
People want a good single action revolver for a decent price. Colt has the SAA but at a premium price.
People want a good 1911. Colt makes that but competition is a killer.
People want a good AR15. Colt makes that too but competition in that market is very stout!
People want a good CCW. This is probably the fastest growing market and Colt should be eyeballing it but they arnt.

Company as big as Colt aint going to survive on 1911's and AR15's alone in such a competitive market.
Agreed

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