Colt teeters on edge of bankruptcy, missed the "Obama bloom"

[Jeep]

Maybe 6720s will hit $400 NIB.

Bankruptcy fire sale! I love the idea.

[45dotACP]

Maybe 6720s will hit $400 NIB.

Forget 6720's...

I want to see the fire sale prices on their series 70 1911's!

[farscott]

From the 1911 Forum: http://forums.1911forum.com/showthread.php?t=489187

Just an fyi .
In the last week , Colt has lowered prices to their distributors on many of their "O" frame models . If you're shopping , check around for the new lower prices .
That said , Custom Shop guns and Gold Cups stayed the same or went up slightly .
I also believe some models were discontinued .

This is the list I received from my distributor . He told me that Colt would not accept further orders for them ,, so I figure the meaning is disc .

O6790 , O7810D , O7810DCT , O1070XSE , O1092XSE , O1880XSE , O1980XSE , O4012XSE , O4662XSE , LE901FDE-16SE , LE901-18SE

[5pins]

Just heard today that Colt has filed for bankruptcy.

I can’t find anything online to confirm so it may just be rumor.

[olstyn]

I would buy two more

"Yes, honey, my $400 gun needs a $500 optic. No, I'm not your dad, honest!"

[RevolverRob]

Supposedly - from this article - http://money.cnn.com/2015/06/10/news...lt-bankruptcy/

Colt has until June 14th to attempt to pay the debt repayment they missed. I will be expecting a bankruptcy announcement on June 15.

The CNN article points out $250 million in bonds and $102 million in debt. Assuming bankruptcy allows them to eliminate a portion of it, someone it going to have to buy Colt for 150-200 million dollars. The only people playing that game are Smith and Wesson and Ruger or potential non-firearm company owning investors.

I bet Smith and Wesson is sorry that they didn't buy Colt when it first filed Chapter 11 in 1992 and sold for 25 million...

-Rob

[Jeep]

I bet Smith and Wesson is sorry that they didn't buy Colt when it first filed Chapter 11 in 1992 and sold for 25 million...

-Rob

Well, the present Smith wasn't around in 1992. Smith then was a subsidiary of a British corporation; it was later bought by (if I remember, and spell, correctly) Safe T Lok. But getting Colt's intellectual property for $25 million would have been a good deal, I think.

[Wayne Dobbs]

Colt, Remington, what's the difference really?

You are kidding, aren't you? There is a world of difference between those two brands. It takes too much time to do it here, but if you are truly in the dark on this, PM me with your cell number and I'll explain it to you.

[Dagga Boy]

Hopefully......some wealthy Texans will buy Colt, move it to he Republic, leave the politics and union contracts behind, modernize in a new efficient factory designed around QC and modern efficiency, and leave a ton of fat and old thinking in Connecticut.

[TGS]

What is the likely outcome for employees when Colt declares bankruptcy...and especially employees in their 50s who can't really "restart" and are heavily invested into retirement?