Colt files Chapter 11

[Condition 1]

http://www.breitbart.com/big-government/2015/06/15/colt-firearms-files-chapter-11-bankruptcy-protection/

Colt was my first, and worst 1911. They gun went back to their shop 3-4 times and never got fixed. No wonder they are going bankrupt.

[Adrenolin]

Well they haven't gotten with the times at all. Dwindling military contracts, ignoring civilian trends (smaller CC handguns), keeping their firearms overpriced in a market where they should be a couple hundred cheaper, heavy union fees, failing service, etc, etc. Let bankruptcy restructure the company from management on down.

Hopefully an American company or group buys it as it would be a bad thing to see any other country after Made in... on a Colt with its heritage.

[SturmRugerSR9]

I believe they manufacture the M15/M16 for the military. Seems they should make a bundle off that. The real answer is they have poor management and marketing. I read a financial capital management company will be running them during the chapter 11, but the big wheels will still be getting there same pay. Go figure.

[Clarence]

My first over the counter purchase.  Colt combat Commander 45.  21 years old.  Still have it and the receipt. $159.

Back then had to get two property owners as character references to buy a handgun.