Colt Firearms files for Bankruptcy...

[evolve]

Never in my life would I thought this would happen, but then again government policy and decicion making in a major corporation HQ can make or break any firearm company. Is this a trend (albeit a negative one) this nation is taking or just bad timing for our beloved Colt?

 

[Blk04L]

IT'S A CLEAR SIGN OBAMA IS TAKING OUR GUNS!!!

355 million in debt...when people are buying guns left and right
Impressive.

Don't see them going away.

 

[Mentos]

Yeah the 355 million in debt is shocking. According to the Wall Street Journal they filed for bankruptcy in 1994 also. Seems back then like they reorganized slightly and borrowed more money. Guess they are gonna do the same this time around, then file for Chapter 11 in another 10 years.

Btw, anyone own a Colt firearm?

 

[Blk04L]

Yeah the 355 million in debt is shocking. According to the Wall Street Journal they filed for bankruptcy in 1994 also. Seems back then like they reorganized slightly and borrowed more money. Guess they are gonna do the same this time around, then file for Chapter 11 in another 10 years.

Btw, anyone own a Colt firearm?

My dad has quite a few handguns/AR15's from Colt.

I wanted a Colt AR-15, but went with Bushmaster instead. Save that extra $$ for another gun down the road.

 

[SID297]

I own a Defender. IMO, this is just poor management. If a company with the reputation of Colt can't make a profit in the current environment it's simply time the clean house and get a new management team in there.

 

[Teethy]

Never in my life would I thought this would happen, but then again government policy and decicion making in a major corporation HQ can make or break any firearm company. Is this a trend (albeit a negative one) this nation is taking or just bad timing for our beloved Colt?

Get the government out of their business and I think they'd be OK. With that said I believe they focused too heavily on their government contracts and ignored the civilian customer base. They really don't have any revolutionary designs that can justify the price delta between them and their competitors. Maybe they should sell all their equipment and invest in a .22 rimfire production line. They'll be out of debt in a week or two.

I don't like the idea of government bailouts even if the government is what got them into this spot...

 

[evolve]

IMO it is a combination of both government legislation and poor management choices that led them here. With shootings in public and the government trying to "crack down" on guns on the street (even if simultaneously resricting citizens rights) it has created this. I like Colt firearms, they just need new life breathed into them.

 

[Drive XR7]

Yeah the 355 million in debt is shocking. According to the Wall Street Journal they filed for bankruptcy in 1994 also. Seems back then like they reorganized slightly and borrowed more money. Guess they are gonna do the same this time around, then file for Chapter 11 in another 10 years.

Btw, anyone own a Colt firearm?

Every industry has losers. Great companies adapt. Colt has shown they have a history of not being able to adapt.

 

[2000gt4.6]

As much as I'd love to blame the government this is 100% colt's fault. Everyone else is seeing profits thru the roof.

I own lots of different firearms and I've never seen a colt I really want.

 

[Blown 89]

Yeah, this has been getting ready to happen for months. It's a shame because they make the best 1911's in that price category IMO. They really haven't innovated in quite a while though and that's what happens when you sit on your laurels and do nothing while other companies evolve. Like I said, it's a real shame, they make some phenomenal stuff. Hopefully they restructure and pick up competent management .

 

[Sn8kebitten]

My friend is a die hard Colt fan that has a WWI commemorative Colt 1911 built in like 1969 that's never been fired. Ironically though, he works in the local Remington plant and was just told in a meeting by his manager that Remington is like 800 million in debt

 

[03Sssnake]

With a storied name like Colt, that company basically has a license to print money...SMH

 

[zerocool]

I'll be sure to buy another here soon and help out. Haven't had a single issue out of my Commander in over 1500 rounds and seldom cleanings.

Definitely sounds like shit management to me.

 

[cbj5259]

I gotta agree this is Colts fault. Several other manufacturers make a quality AR and charge significantly less. They are living off their name and charging for it. They need to readjust their pricing to remain competitive with some of the other manufacturers that put out the same quality product.

 

[nxhappy]

The other companies have made it so Colt can only blame themselves. ****ing sucks though.

 

[TBCobra]

Jade Helm conspiracy!

Sucks to hear.

I own a pre-ban ar-15 that shoots like a dream, only Colt I've ever owned.

 

[Zerohe]

Im a Smith & Wesson Guy. My GF and I love our Bodyguard .38s

 

[RedRocketMike]

Hard to say if it's poor management since they're private. Remington couldn't keep their shit together either. Gun's might be a tougher business than we think. Most that are sold are hardly ever removed from circulation because they are not used to a point where they are worn out or broken so there are continually more and more clean used or unfired guns on the market every year.

 

[zak88lx]

Maybe Colt can win the Army contract for Beretta M9 replacement.
That could get them back on their feet.
A lightweight Colt 45 would do the job.

 

[Teethy]

Hard to say if it's poor management since they're private. Remington couldn't keep their shit together either. Gun's might be a tougher business than we think. Most that are sold are hardly ever removed from circulation because they are not used to a point where they are worn out or broken so there are continually more and more clean used or unfired guns on the market every year.

Need more companies pushing the ammo! Put out some quality ammo at a reasonable price and it'll get bought up faster than they can make it. For the last 7 years ammo has been a name your price game.