REPORT: Colt May Default After Poor Quarterly Results

Grand View Outdoor News ^ | 11/13/2014 | Christian Lowe

[aimhigh]

The Wall Street Journal reports that Colt Defense LLC has filed papers with the Securities and Exchange Commission indicating it does not have the funds to pay back loans and may default on its payments to bondholders.

According to the report, Colt is expected to declare a loss of as much as 60 percent for the quarter over last year, based largely on declining sales and delays in payment for government contracts. Colt told the SEC it may not be able to make a nearly $11 million payment next month on a $248.8 million loan.

[Antoninus II]

Maybe one could pick up some of their AR’s at fire sale prices.

That ain't happening...

[G Larry]

I have a Series 70, Mark IV, Gold Cup, tricked out for competition.

Also, Grandpa’s 1934, 32-20 pearl handled revolver.

[ChildOfThe60s]

My brother has one he got years ago. Can’t believe how much it has gone up in value.

Damn thing is fun to shoot. Sucker is heavy!

[Paulie]

I caught that too. Clearly intentional.

I wish we would just get on with it.

[Lurker]

I have one and yes, you do.

[bert]

like Huntsville Alabama or Victoria Texas

[SkyPilot]

Ha.

[Antoninus II]

I lost a whole slew of Colts to a burglar in ‘85. Just hoping I get some back!

[Lurker]

Mine is a 4” nickel model. One sweet shooter. I rarely fire it anymore.

[Joe 6-pack]

"I lost a whole slew of Colts to a burglar in ‘85."

It's about time that 'boating accident' meme got updated :-)

[SkyPilot]

To: SkyPilot My brother has one he got years ago. Can’t believe how much it has gone up in value.

I think when the world goes bad, which I define as the Rapture of the believers in Christ, occurs, then firearms and such will be of value.

I have live a long life. I am old. A better decision is to some to Jesus Christ. The bad stuff is about to happen. I would rather be on the side of God.

Remember this post.

[null and void]

I would rather be on the side of God.

Me too, and I'm an agnostic.

[NonValueAdded]

I guess their political contributions weren’t up to snuff.

[TurboZamboni]

beautiful, well-made revolvers.

problem is that now days most people want evil hicap semi-autos.

[ChildOfThe60s]

problem is that now days most people want evil hicap semi-autos.

They all have their place.

I have a 35 year old Ruger single six. A beautiful revolver in mint condition. Not exactly a concealed carry firearm. Plus I don't shoot it, want to keep it mint.

[Blue Collar Christian]

Actually, Colt AR’s are cheap right now from CDNN. Check out their ad in Shotgun News. And their M&P AR style .22 is only $299.99.

http://www.cdnnsports.com/firearms.html?limit=60&p=3

[SVTCobra03]

Me too, and I'm an agnostic.

Then remember to not take the Mark.

[TurboZamboni]

love my old 686 S&W.

[smokingfrog]

Colt was getting $1,200 from Uncle Sam for M-4s. The new contract from FN is about $650 per.

[saintgermaine]

How about a Colt Match Target .22 bought around 1966, put through about 60 rounds and in mint condition and the accuracy is phenomenal.