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Colt files for chapter 11
#5789520
06/15/15 01:38 PM
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Joined: Sep 2006
Posts: 32,494
kmon11
OP
junior
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junior
Joined: Sep 2006
Posts: 32,494 |
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
lf the saying "Liar, Liar your pants on fire" were true Mainstream news might be fun to watch
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Re: Colt files for chapter 11
[Re: kmon11]
#5789587
06/15/15 02:21 PM
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Joined: Jan 2009
Posts: 12,150
kry226
The General
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The General
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Re: Colt files for chapter 11
[Re: kmon11]
#5789622
06/15/15 02:41 PM
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Joined: Nov 2011
Posts: 3,636
DStroud
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I wonder if the value of my CR2012 went up or down? 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.
"Anyone taking up handloading necessarily plays with unknown factors and takes chances. But so does anyone who drives a car,goes to a cocktail party,eats in a restaurant,or gets married."
Jack O'Connor 1963
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Re: Colt files for chapter 11
[Re: kmon11]
#5789805
06/15/15 04:21 PM
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Joined: Feb 2013
Posts: 1,389
BassCat'99
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Which Military contract caused this? Which weapon?
22 Creedmoor
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Re: Colt files for chapter 11
[Re: kmon11]
#5790141
06/15/15 07:46 PM
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Joined: Dec 2008
Posts: 4,506
syncerus
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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.
NRA Patriot Benefactor & DSC Lifer
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Re: Colt files for chapter 11
[Re: kmon11]
#5790440
06/15/15 11:15 PM
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Joined: Jun 2011
Posts: 33,953
Buzzsaw
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too bad, hate to see anyone in the shooting sports go out of business, except CTD,
SPACE FOR RENT
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Re: Colt files for chapter 11
[Re: kmon11]
#5790562
06/16/15 12:08 AM
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Joined: Feb 2015
Posts: 473
Beaubien
Bird Dog
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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"
Last edited by Beaubien; 06/16/15 12:13 AM.
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Re: Colt files for chapter 11
[Re: kmon11]
#5790575
06/16/15 12:13 AM
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Joined: Feb 2007
Posts: 26,548
JCB
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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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Re: Colt files for chapter 11
[Re: JCB]
#5790583
06/16/15 12:17 AM
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Joined: Feb 2015
Posts: 473
Beaubien
Bird Dog
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[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.
Last edited by Beaubien; 06/16/15 12:18 AM.
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Re: Colt files for chapter 11
[Re: JCB]
#5790641
06/16/15 12:49 AM
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Joined: Feb 2008
Posts: 12,221
Grizz
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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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Re: Colt files for chapter 11
[Re: JCB]
#5790706
06/16/15 01:29 AM
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Joined: Dec 2008
Posts: 41,171
J.G.
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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.
800 Yard Steel Range Precision Rifle Instruction Memberships and Classes Available
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Re: Colt files for chapter 11
[Re: BassCat'99]
#5790719
06/16/15 01:37 AM
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Joined: Sep 2012
Posts: 4,009
68A
Extreme Tracker
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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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Re: Colt files for chapter 11
[Re: kmon11]
#5790774
06/16/15 02:15 AM
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Joined: Nov 2012
Posts: 840
10ring
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Tracker
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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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Re: Colt files for chapter 11
[Re: Beaubien]
#5790848
06/16/15 02:51 AM
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Joined: Mar 2011
Posts: 2,101
Colt W. Knight
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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.
Last edited by Colt W. Knight; 06/16/15 02:53 AM.
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Re: Colt files for chapter 11
[Re: JCB]
#5790878
06/16/15 03:16 AM
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Joined: Nov 2011
Posts: 4,564
patriot07
Extreme Tracker
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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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Re: Colt files for chapter 11
[Re: 10ring]
#5790883
06/16/15 03:23 AM
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Joined: Mar 2011
Posts: 2,101
Colt W. Knight
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I'm curious if "Colt Defense LLC" is a separate entity or subsidiary of "Colt" and that division is filing chapter 11? They were, but I think they merged back in last few years. At one time, there was Colt Defense and Colt Manufacturing.
Last edited by Colt W. Knight; 06/16/15 03:29 AM.
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Re: Colt files for chapter 11
[Re: kmon11]
#5790937
06/16/15 04:36 AM
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Joined: Jan 2011
Posts: 21,373
Bullfrog
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Colt vs Wesson is on at Midnight on American Genius.
Man if I knew what Oxner knows I could throw away what I know
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Re: Colt files for chapter 11
[Re: Colt W. Knight]
#5791013
06/16/15 11:12 AM
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Joined: Apr 2010
Posts: 6,219
dee
THF Trophy Hunter
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Posts: 6,219 |
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. This was their biggest killer imo. FN has built factories specifically for military small arms manufacturing just to aquire the contract.
"A vote is like a rifle; it's usefulness depends on the character of the user" Theodore Roosevelt
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Re: Colt files for chapter 11
[Re: Buzzsaw]
#5791065
06/16/15 12:27 PM
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Joined: Jun 2009
Posts: 4,199
Korean Redneck
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too bad, hate to see anyone in the shooting sports go out of business, except CTD, Obviously someone is still bitter! The National Geographic channel was a show call American Genius where it tells the stories of smart individuals in competition. Last night by coincidence was the story of Samuel Colt and Dan Wesson. It was interesting. It looks like the long term rivalry goes to Smith & Wesson. Also, it made me think how S&W was doing poorly for a little while then adapted to the market by the whole M&P line. That's my theory on Colt. Too much resting on their past successes.
Last edited by Korean Redneck; 06/16/15 01:07 PM.
I'm a dude who likes long barrels!
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Re: Colt files for chapter 11
[Re: kmon11]
#5791466
06/16/15 05:06 PM
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Joined: Nov 2013
Posts: 1,102
Bbear
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Poor management did them in. As stated above, they went all 'PC' and got almost completely out of the civilian market and tried to make their way on government contracts alone. S&W pulled that stunt back in the late 90's and nearly went bankrupt themselves (remember them signing on to all of the gun safety hoopla back then?). It took the workers buying out the company to bring them back. First thing the 'new' owners did was tear up that 'agreement' to build 'safe' firearms. Colt has been heading this way for nearly 20 years. It's been juggling bonds and loans for the past 10 or so years and it's finally caught up with them.
I just hope that someone buys the remains and starts building some civilian models that people actually want and can afford.
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Pay it forward - Kids are the future.
Rifles are similar to boats and young women...there's no end to how much money you can pour into them without making them any more useful.
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Re: Colt files for chapter 11
[Re: kmon11]
#5793035
06/17/15 02:27 PM
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Joined: Feb 2009
Posts: 1,308
Precision_Shooter
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Last edited by Precision_Shooter; 06/17/15 02:28 PM.
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