Colt Bankruptcy

I am aware that some purchasers of Colt firearms are concerned with the announcement earlier this month that the company has filed for bankruptcy.  Please note that Colt’s press release on the subject found here explains that Colt requested that the Bankruptcy Court approve its “requests to protect trade creditors, vendors, and suppliers thereby allowing for its operations to continue uninterrupted during the Bankruptcy Court supervised sales process.”  In short, if you have paid for a purchase and are awaiting delivery of a firearm or if you returned a firearm for repair, Colt has said that the corporate restructuring will not interfere with “normal business operations”.

If you have a more substantial financial interest in Colt — as a shareholder or bondholder or lender — you may want to consult with an attorney who handles bankruptcy matters for further explanation of the potential impact upon your interests.

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