Colt Defense Bankrupt – Be Healthy to be Executed
Colt Defense Bankrupt – Be Healthy to be Executed Iconic American gun-maker Colt Defense has filed for bankruptcy protection. The company says in a statement that its Chapter 11 filing late Sunday in U.S. Bankruptcy Court for the District of Delaware will allow for a faster sale of business operations in the U.S. and Canada. The Wall Street Journal reports that the filing was expected because Colt “failed to win the support of bondholders for a debt reshaping agreement.” It adds: “Colt plans to try to reduce its $355 million debt burden via a court-supervised auction of its business,...
Colt Defense Bankrupt – Be Healthy to be Executed Iconic American gun-maker Colt Defense has filed for bankruptcy protection. The company says in a statement that its Chapter 11 filing late Sunday in U.S. Bankruptcy Court for the District...
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