Colt’s course to bankruptcy
Colt Defense is expected to re-emerge from bankruptcy as Sciens Capital Management is expected to purchase almost all of its assets.
Cold filed for voluntary ‘Chapter 11 bankruptcy’ in US Bankruptcy Court for the District of Delaware on 14 June that allowed for the accelerated sale of its business operations in the US and Canada.
The company’s military product line includes small arms like the nearly ubiquitous US M16 series rifle/M4 series carbine as well as Canada’s C7 rifle and C8 carbine. But its problems were long in the making.
One of Colt Defense’s significant military market challenges
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