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[TD]The maker of 'the gun that won the West' is reportedly filing for bankruptcy
Source: Business Insider
Colt Defense, the gun manufacturer that has been in business since the 1800s, is expected to file for Chapter 11 bankruptcy, The Wall Street Journal reported Sunday.
The publication cites people familiar with the pending action who say the company's "business execution issues" and some $355 million in debt are among the issues that led to the pending bankruptcy filing.
The West Hartford, Connecticut-based company is expected to continue operating during the bankruptcy process, the WSJ said.
Colt Defense has enjoyed success for much of the last century, thanks in part to lucrative contracts with the US armed forces, in which Colt was the primary manufacturer of the weapons used by front-line troops.
Read more: The maker of 'the gun that won the West' is reportedly filing for bankruptcy - Business Insider [/TD]
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[TD]The maker of 'the gun that won the West' is reportedly filing for bankruptcy
Source: Business Insider
Colt Defense, the gun manufacturer that has been in business since the 1800s, is expected to file for Chapter 11 bankruptcy, The Wall Street Journal reported Sunday.
The publication cites people familiar with the pending action who say the company's "business execution issues" and some $355 million in debt are among the issues that led to the pending bankruptcy filing.
The West Hartford, Connecticut-based company is expected to continue operating during the bankruptcy process, the WSJ said.
Colt Defense has enjoyed success for much of the last century, thanks in part to lucrative contracts with the US armed forces, in which Colt was the primary manufacturer of the weapons used by front-line troops.
Read more: The maker of 'the gun that won the West' is reportedly filing for bankruptcy - Business Insider [/TD]
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