This is not surprising. Colt has been hanging by a thread ever since coming back out of Chapter 11 in 2015, but has been in all sorts of financial woes since th

This is not surprising. Colt has been hanging by a thread ever since coming back out of Chapter 11 in 2015, but has been in all sorts of financial woes since the mid 1980s. They are just trying to survive at this point. If labor relations interests you, it's a fascinating company. They had a long stand off with the union in the mid to late 80s. They replaced all Union staff who had striked. Four or five years later the union eventually won and all the existing staff, who were hired during the 5 year strike, were fired and the old union staff replaced them. Not only that but the union got given a significant chunk of the company. The problem was that the old staff could not operate the updated machinery. The military unhappy with the quality canceled contracts. It was a disaster and ended up killing the company and they went into chapter 11 for the first time. That was the end of Colt. https://www.nytimes.com/1990/04/01/nyregion/workers-rejoice-at-end-of-4-year-strike-at-colt.html https://www.nytimes.com/1990/04/01/nyregion/workers-rejoice-...