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Iconic gunmaker Colt is on the brink of bankruptcy

from CNNMoney

Colt, the iconic American gunmaker, could be bankrupt within days. The company, that has been making guns for 160 years, has been struggling financially and missed a $10.9 million interest payment on its debt in mid-May. Colt's status in the gun industry and its role in American history cannot be overstated. The West Hartford manufacturer established by Sam Colt has been the most famous gunmaker in America since the 1840s, when the Texas Rangers adopted its revolver during their Wild West wars with Native Americans. more

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