{"id":1307,"date":"2015-06-15T01:53:00","date_gmt":"2015-06-15T01:53:00","guid":{"rendered":"https:\/\/onlygunsandmoney.com\/2015\/06\/15\/report-chapter-11-filing-tomorrow-for\/"},"modified":"2019-08-16T18:25:35","modified_gmt":"2019-08-16T18:25:35","slug":"report-chapter-11-filing-tomorrow-for","status":"publish","type":"post","link":"https:\/\/onlygunsandmoney.com\/?p=1307","title":{"rendered":"Report: Chapter 11 Filing Tomorrow For Colt"},"content":{"rendered":"<div class='__iawmlf-post-loop-links' style='display:none;' data-iawmlf-post-links='[{&quot;id&quot;:10480,&quot;href&quot;:&quot;http:\\\/\\\/www.wsj.com\\\/articles\\\/colt-defense-to-file-for-chapter-11-bankruptcy-protection-by-monday-1434310925?mod=mktw&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20231121040804\\\/https:\\\/\\\/www.wsj.com\\\/articles\\\/colt-defense-to-file-for-chapter-11-bankruptcy-protection-by-monday-1434310925?mod=mktw&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-18 21:59:18&quot;,&quot;http_code&quot;:206}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-18 21:59:18&quot;,&quot;http_code&quot;:206},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:10481,&quot;href&quot;:&quot;http:\\\/\\\/www.sciensam.com&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20260213194729\\\/https:\\\/\\\/www.sciensam.com\\\/&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-18 22:00:00&quot;,&quot;http_code&quot;:200}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-18 22:00:00&quot;,&quot;http_code&quot;:200},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:10482,&quot;href&quot;:&quot;http:\\\/\\\/weaponsman.com\\\/?p=22885&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20200220181811\\\/http:\\\/\\\/weaponsman.com\\\/?p=22885&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-18 22:00:02&quot;,&quot;http_code&quot;:503}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-18 22:00:02&quot;,&quot;http_code&quot;:503},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:10483,&quot;href&quot;:&quot;http:\\\/\\\/weaponsman.com\\\/?p=19102&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20190809161708\\\/http:\\\/\\\/weaponsman.com\\\/?p=19102&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-18 22:00:08&quot;,&quot;http_code&quot;:503}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-18 22:00:08&quot;,&quot;http_code&quot;:503},&quot;process&quot;:&quot;done&quot;}]'><\/div>\n<p>\n<a href=\"http:\/\/www.wsj.com\/articles\/colt-defense-to-file-for-chapter-11-bankruptcy-protection-by-monday-1434310925?mod=mktw\" target=\"_blank\" rel=\"noopener\">Matt Jarzemsky of the Wall Street Journal reports<\/a> that Colt Defense LLC will go into bankruptcy tomorrow.<\/p>\n<blockquote class=\"tr_bq\"><p>\n<i>Gun maker Colt Defense LLC plans to file for chapter 11 bankruptcy-court protection by Monday, according to people familiar with the matter, amid business-execution issues and a heavy debt burden.<\/p>\n<p>The company has secured financing from its existing senior lenders to continue operating while in bankruptcy and expects to remain in business after the restructuring, the people said.<\/i><\/p><\/blockquote>\n<p>According to the article, <a href=\"http:\/\/www.sciensam.com\/\" target=\"_blank\" rel=\"noopener\">Sciens Management LLC<\/a> owns 87% of Colt Defense. Moreover, some of the principals of that firm have ownership stakes in Colt&#8217;s West Hartford, CT plant. The lease on that plant comes up for renewal in October.<\/p>\n<p>Colt will be relying on a bankruptcy court-ordered auction of business assets to help pay down its $355 million in debt. The primary assets that they own are their intellectual property (patents) and their trademark. <a href=\"http:\/\/weaponsman.com\/?p=22885\" target=\"_blank\" rel=\"noopener\">It is my understanding that these have been heavily mortgaged already<\/a>.<\/p>\n<p><a href=\"http:\/\/weaponsman.com\/?p=19102\" target=\"_blank\" rel=\"noopener\">For a great historical perspective<\/a> on the origins of Colt&#8217;s problems, see this post in the Weaponsman blog by &#8220;Hognose&#8221;.<\/p>\n<p>I will be checking Pacer tomorrow to see what I can glean from the bankruptcy filing.<\/p>\n<p><\/p>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>","protected":false},"excerpt":{"rendered":"<p>Matt Jarzemsky of the Wall Street Journal reports that Colt Defense LLC will go into bankruptcy tomorrow. Gun maker&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[1079,2236],"class_list":["post-1307","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bankruptcy","tag-colt-defense-llc"],"_links":{"self":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/1307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1307"}],"version-history":[{"count":1,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/1307\/revisions"}],"predecessor-version":[{"id":10361,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/1307\/revisions\/10361"}],"wp:attachment":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}