Colt Teetering On The Brink Of Bankrupcy

[jdmack79]

My colt 45's work great. I see no issues with quality.

 

[phylodog]

Report: Gun maker Colt Defense to file for Chapter 11

 

[Gunner72]

How is it possible that a company with the caliber of colt be filing chapter 11. Seems unbelievable to me.
Maybe somebody skimming off the top??

 

[GodFearinGunTotin]

Report: Gun maker Colt Defense to file for Chapter 11

Is "Colt Defense" the entire Colt company?

 

[Arthur Dent]

How is it possible that a company with the caliber of colt be filing chapter 11. Seems unbelievable to me.
Maybe somebody skimming off the top??

The parent company wasn't just skimming off the top, they were financing all they could to pay themselves more and more.

 

[CHCRandy]

Is "Colt Defense" the entire Colt company?

Yes......Colt's Curse: Gunmaker's Owners Have Led It to Crisis After Crisis - Businessweek

I think this is all just a rich man's scam. Colt is going no where.....and Ioannis Rigas will remain rich.

 

[M67]

This just breaks my wittle heart

How is it possible that a company with the caliber of colt be filing chapter 11. Seems unbelievable to me.
Maybe somebody skimming off the top??

Really? This only makes the 5th or 7th time they've declared bankruptcy.

There's no fixing Colt

 

[churchmouse]

The parent company wasn't just skimming off the top, they were financing all they could to pay themselves more and more.

Sucking out the money like a tumor.........

 

[ljk]

oldest trick in the book

[video=youtube;ZPtjyqgZAUk]https://www.youtube.com/watch?v=ZPtjyqgZAUk[/video]

 

[Kirk Freeman]

Sucking out the money like a tumor.

Who needs "Business Insider"? INGO nails it yet again.

Too much debt, fixed supply costs and labor issues.

Break it up, sell it to the highest bidder and move it to the South or Midwest.

 

[Ben Nelson]

Who needs "Business Insider"? INGO nails it yet again.

Too much debt, fixed supply costs and labor issues.

Break it up, sell it to the highest bidder and move it to the South or Midwest.

Star City! Move it to the Star City!

 

[roscott]

It appears Colt, like our federal government, forgot the most fundamental rule in business.

SUCCESS = money coming in > money going out

 

[Cygnus]

I think this is all just a rich man's scam. Colt is going no where.....and Ioannis Rigas will remain rich.

Sounds like some Greek financing shenanigans.........ala EU.
Maybe the Germans can bail them out?????

 

[Indynic]

Excerpt from a Paul Barrett article from today completely nails it:
"Colt Defense, as the main part of the company is now known, filed for bankruptcy protection on Sunday while listing as much as $500 million in debt. Cooling demand for its civilian semiautomatic rifles and handguns, as well as delays in certain large U.S. government and foreign military orders, have exacerbated the company's finances. But the main reason the company hasn't weathered rocky market conditions since the winding down of the wars in Iraq and Afghanistan is that the New York financiers who control the company borrowed too much and paid themselves lavishly."

I don't blame Colt the gun manufacturer. I blame Sciens Capital Management for running up debt and sucking Colt dry of cash.

 

[Arthur Dent]

It appears Colt, like our federal government, forgot the most fundamental rule in business.

SUCCESS = money coming in > money going out

It isn't so much that Colt forgot that, their parent company isn't even aware of that concept.

 

[foszoe]

Sounds like some Greek financing shenanigans.........ala EU.
Maybe the Germans can bail them out?????

I am holding some greek bank stocks so I certainly hope so!

 

[10mmMarc]

I always thought if they brought back the snakes and a detective special , magnum carry , maybe just maybe they might have had a chance, if nothing else atleast we would have a chance to get our hands on them again

 

[M67]

I always thought if they brought back the snakes and a detective special , magnum carry , maybe just maybe they might have had a chance, if nothing else atleast we would have a chance to get our hands on them again

They were expensive back in the day, and they would be expensive now, especially if they made them with the quality from the 70s and early 80s before they went downhill. Detective specials would be nice but colt hasn't made a double action revolver in so long that I'd be scared to buy one cause they're have to find people who they can train to make them, plus they'd be racking up more debt buying the machines. For the first year or two, I'd trust an RG more than I'd trust a double action Colt until Colt proves that they can make something that works.

What kills Colt is their ego. We are Colt, we are a staple, we are a classic, we don't need anything new or innovative, we have our name and government contracts. research and development? Who needs them, we are Colt. Badges? We don't need no stinkin badges


Colt does nothing new or innovative, it's the same broken record for a product lineup. They tried the All American 2000, it was a turd. Double Eagles were massive and hit or miss, the Pony was heavy and hit or miss. They tried smart guns and, well that didn't work out either.

Colt is one giant joke. After the unions, being saved from bankruptcy several times, after ditching the American people for the hopes of government sales and when those sales fell through them crawling back to us, ehh. Let them close and stay closed.

I have 3 Colts myself, but there's a reason why my newest one was made in 1949

 

[Alamo]

Colt’s Bankruptcy Isn’t Because Civilian Gun Sales Are Down

 

[T.Lex]

At the risk of encouraging conspiracy theories, what gun companies need is a good scare.

That's not what this article directly says, but....
Gun Sales Tanking? - The Truth About Guns