Colt secured a $20 million loan that would afford the company to maintain normal business operations during the chapter 11 bankruptcy process.
After eight months of living off loans and negotiating with investors to avoid collapse, Colt Defense ultimately bit the bullet and filed for bankruptcy Monday.
Colt voluntarily filed petitions for Chapter 11 relief Monday, a process the company says will accelerate the sale of its operations in U.S. and Canada.
Colt Defense LLC has been giving investors two options for payment: accept less lucrative bonds, or…
Guns.com sat down and worked through the California Department of Justice’s assault weapon list of some registered 145,253 firearms, as well as the politics of the ban
Obtained via Public Records requests, Guns.com analyzed the California DOJ’s assault weapon list of some registered 145,253 firearms, as well as the politics of the ban.
Third time’s the charm? Colt Defense extends the deadline for creditors to exchange notes or vote in support of a pre-packaged plan for bankruptcy.
Standard & Poor’s downgraded both Colt’s debt rating and corporate credit rating to a “D” from “CC,” the rating service said in a statement Tuesday.
The plan to exchange old bonds with new ones needs 98 percent of investors to participate, but only a small percent has been accounted for as of last night.
An Army whitepaper released Monday questions a plan sending as many as 100,000 “untraceable” 1911s to the Civilian Marksmanship Program.