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Cas City Forum Hall & CAS-L  |  CAS TOPICS  |  The Longbranch (Moderators: Marshal Halloway, Silver Creek Slim, Camille Eonich)  |  Topic: Colt Bankruptcy? 0 Members and 1 Guest are viewing this topic. « previous next »
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Author Topic: Colt Bankruptcy?  (Read 9057 times)
Jayhawker
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« Reply #25 on: June 15, 2015, 10:46:19 pm »

Colt is going under because they sold their customers down the river....Dropping MOST civilian production and their most desirable product line (The snake series of revolvers), then charging outrageous prices for what's left.....I can get better SAs from Ruger and Uberti for a fraction of the price...I can get as good or better 1911s from damn near everyone for a fraction of the price....that "Prancin Pony" just ain't worth what they are asking....
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Fox Creek Kid
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« Reply #26 on: June 15, 2015, 11:14:06 pm »

Update with grim details:


http://weaponsman.com/?p=23371
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Bruce W Sims
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« Reply #27 on: June 17, 2015, 09:19:35 am »

".......

Colt’s most valuable properties, its intellectual property (designs, trademarks and patents) are essentially mortgaged, greatly reducing the cash value of the business, which the managers propose selling at auction.

After Colt defaulted on an interest payment last month, its managers, hedge fund Sciens Capital, initially tried to press bondholders into accepting a 95% haircut and a six-year stretch in bond terms. Only 5.1% of the bondholders were willing to take a chance at getting 5% six years later ($50 per $1000 of bonds’ face value), even with the firm threatening to go bankrupt and zero them out. Colt managed to negotiate some breathing space with the bondholders, and managed to raise the participation to a still-anemic 5.9%, even after offering them a less sour 45% of old bond face value in the new bonds.

The managers’ second choice, a prepackaged bankruptcy like the one used in the notorious Government Motors bankruptcies, also did not attract enough creditor support. ......"(Not a good sign)

Best Wishes,

Bruce
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RRio
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« Reply #28 on: June 20, 2015, 01:53:17 am »

Not sure it would be worth saving after reading this:

http://www.rense.com/politics5/colt.htm

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Bruce W Sims
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« Reply #29 on: June 21, 2015, 10:33:11 am »

Not sure it would be worth saving after reading this:

http://www.rense.com/politics5/colt.htm


Why am I not surprised that there is a swirl of politics and intrigue around this all......

Best Wishes,

Bruce
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Sir Charles deMouton-Black
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« Reply #30 on: July 03, 2015, 01:52:50 pm »

"Cavalry" to the rescue. Cheesy

http://blogs.wsj.com/bankruptcy/2015/07/01/morongo-tribe-rides-to-colts-rescue/
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Trailrider
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« Reply #31 on: July 03, 2015, 03:34:14 pm »


Looks like the wagon train (Colt's) has circled its wagons to protect it from hostile "settlers" (creditors/bond holders), and it is the Indians who are riding to the rescue!  Tongue Roll Eyes Grin Let's hope it works.  Couldn't you just see John Ford making a movie following this plot, especially with John Wayne in trouble?  Grin
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RRio
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« Reply #32 on: July 14, 2015, 02:36:05 pm »

They did initially with the SASS Colt SAA. However, General Grant, owner of EMF, decided to offer a SASS Italian model as well and Colt was "eight balled". Needless to say, Colt was PO'd and dropped from the scene pretty much.

Mainly because the idea of a $1700 SASS Colt did not appeal to most working people, especially with all the work need on one.
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STORM #178       USFACS #28
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Cas City Forum Hall & CAS-L  |  CAS TOPICS  |  The Longbranch (Moderators: Marshal Halloway, Silver Creek Slim, Camille Eonich)  |  Topic: Colt Bankruptcy? « previous next »
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