Colt default??

[Redcobra]

Anyone seem this?
http://www.guns.com/2014/11/15/colt-warns-of-possible-default-likely-to-miss-10-9-million-payment/

 

[Bertfish]

Yikes

 

[Fox123]

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.

 

[Alphabrew]

Holy carp

 

[ericoak]

Yea

http://www.mdshooters.com/showthread.php?t=164264&highlight=colt

 

[jr88]

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.

Absolutely ! If they had just continued making revolvers on a limited basis they could have sold a bunch. Colt knew this was coming, they sold their name to gun and ammo manufacturers a few years ago. I predict it won't be long before someone buys up the equipment and rights to make Snake Guns again. I can see some custom builder like Wilson Combat doing this.

 

[swinokur]

They've been in and out of financial trouble for years.

 

[Lou45]

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.

 

[coopermania]

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.

Yep, Yep

 

[lennyk]

wow, wow, wow. If they would have continued with the Python, the 1873 Peacemaker, ie, their famous guns. Amazing. They have to come up with 11 million by December. I doubt the name will disappear, too valuable a brand. Different ownership - very likely.

 

[Alphabrew]

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 is being run just like the US government, then

 

[DoubleTap007]

Maybe they can lower the price on the LE901 to about $1,250.....lol...

 

[trex]

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.

 

[Name Taken]

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.

Probably not.

I suspect their R&D department is hard at putting a fancy hand guard on a 6920 and maybe changing the barrel profile/length while at it to give us a "all new firearm".

Oh lets not forget pumping out some 1911 variants for old fan favorites.


It's time to come out with a NEW gun. The MP line has appeared to have done well for S&W and Glock built a company off of a striker fired gun. Springfield has an offering as does Sig, HK, FNH. Maybe that's the way of the future?

 

[trbon8r]

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.

 

[Lou45]

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.

For outta' da' box .45 1911's, it's hard to beat a Colt or Springer at a less than $1,000.00 price point.

Also trbon8r's post applies to Colt AR's verses those other cheap assed POS AR's.

 

[fidelity]

Sounds like a very reasonable price for a good quality 1911, especially the brand that defined the line.

There are good deals on Colt rifles these days too. I just saw this one for a MD legal Colt Target HBAR for around $800 ($200 less than most places) ...

http://www.kygunco.com/colt-match-target-competition-hbar-rifle-223-20bbl-91-51329

Not sure if they ship here.

I'm interested in Colt SAAs, but for this line, Colt is significantly more expensive than their competition.

 

[newq]

There is no doubt many company's rode last years high's as the new norm and not a spike just as several failed retailers did in MD. They are so mired in debt that instead of putting the money back in the coffers they put it in their pocket.

I have seen this in my own employer in years that new regulation forced sales of goods we offered and Our parent company patted our president on the back citing increased sales and as our executives rode the backs of our sales force and ignored the overall downward trend of the next fiscal year and instead of comparing the current year skipping the artificially inflated year everyone acted so surprised that there was suck a shrinkage in growth and the days of naming their own price were gone.

No one could understand it except everyone who was selling and talking to customers about the work. Their were drivers in the business alright, none of them wore a suit and tie. Remarkably the drivers had no education, didn't care about brand or dollar amount and worked for no single company although almost all took advantage of it.

Welcome my friends to the market, death to all who read it incorrectly.

 

[Uncle Duke]

Sad story of a legendary company. I would love to see Colt revisit a few of their classic revolvers. But my best guess is that the reason why they haven't is largely that they probably can't. The necessary machinery is likely shot. I've heard that claim. But the real problem is that you'd probably need a shovel to find the guys who could run the equipment, and to do the necessary fitting.

 

[jimbobborg]

The article mentions Colt Defense. Isn't their civilian market company under a different name?