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Tag: Colt Defense

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Financially Stricken Colt Defense Wins $212 Million Contract With DOD

On June 14, Colt Defense LLC announced it was entering Chapter 11 Bankruptcy protection after a year of ups and downs which were mostly downs, financially. But as last week came to a close Colt had another announcement to make–they had secured a $212 million contract for M4 rifles with Department of Defense.

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Bloomberg: Colt ‘New York Financiers Borrowed Too Much,’ Spent Too Much

Colt Defense LLC is filing for Chapter 11 bankruptcy protection in a situation where the future could bring a Colt that looks little like its iconic predecessor—if any part of Colt remains at all. Bloomberg Business (BB) is reporting that the American legend’s current problems are the result of “New York Financiers” who “borrowed too much” and took too much as well.

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Colt Manufacturing Led Charge For Gun Control In 1990s, Now Bankrupt

Amid all the reports about Colt Defense, formally Colt Manufacturing, filing for Chapter 11 bankruptcy protection this week, one thing has been missing–Ronald L. Stewart spent his time as Colt CEO (1996-1998) pushing gun control and suggesting overarching federal regulation over guns would be better than state-by-state variations in gun laws.