That's what happens when you price yourself out of the market, stop making products your customers want, and rely too heavily on gov contracts.
They've been in and out of financial trouble for years.
Not years, DECADES. Colt going through financial troubles is nothing new as it's been happening on and off for decades. Move along, nothing new to see here.
Not years, DECADES. Colt going through financial troubles is nothing new as it's been happening on and off for decades. Move along, nothing new to see here.
Colt announced today they secured 70 million in new funding and won't be defaulting. New loan won't be due till 2018 so maybe they will get their act together by then, if thats possible.
Hard to stay in business when Americans have no loyalty or pride in their country anymore. Just look at the posts here about where to buy the cheapest POS 1911. The answer is usually some Rock Island imported trash or some other $500 garbage. The reality is you can't build a decent 1911 and sell it for $500 these days. Then when the $500 turd doesn't run the owners bitch to their friends about how unreliable 1911s are.
For $1k today I bought another real American made 1911 from a real American company. That company is Colt. The quality on the pistol is amazing at its price point and rivals my Les Baer. Colt's quality is now better than it has been in years and is better than my two other Colts bought over the last 10 years.
The trouble is no one wants to pay for the quality. Now all people want is cheap and quantity over quality. They think it is better to have two POS Rock Islands than one nice Colt.