The news out of Hartford is sad, but isn’t unexpected:
Colt Defense LLC warned that it could default by the end of the year, as the privately owned company, which has suffered from declining demand for rifles and handguns, is likely to miss a payment to bondholders.
The gun maker faces a $10.9 million payment to bondholders Nov. 17, according to a filing on Wednesday with the U.S. Securities and Exchange Commission. If Colt skips the payment, it will enter a 30-day grace period, but without payment by Dec. 15 it will be in default and bondholders can demand immediate, full payment.
More @ Bearing Arms
Its what happens when you quit selling to people and only sell to police
ReplyDeleteJust reading a thread on 1911 about this.
ReplyDeleteAgree with Corey. The only real guns colt punched out were made a hundred plus years ago. 1860 1873 1911. Their ar's are ok but dont warrant the cost. They forgot where their money came from and we moved on.
ReplyDeleteThey forgot where their money came from and we moved on.
DeleteAnother well said.