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Manufacturer of M16 rifles may become bankrupt
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10 Jun 2015 08:01:02
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Manufacturer of M16 rifles may become bankrupt

the Financial welfare of the company Colt deteriorated sharply after began a sharp decline in sales of rifles and pistols in 2014.

Company Colt's Manufacturing LLC (Colt), producing a diverse range of small arms including M16 rifles and M4 carbines, which is armed with the American army, is close to bankruptcy.

Photos: k31.kn3.net

bankruptcy Colt may announce in the next few weeks if investors do not come to a common decision on the conclusion of the company from the crisis, according to Business Insider.

Financial wealth Solt deteriorated sharply after began a sharp decline in sales of rifles and pistols in 2014 – almost 30%.

Photo: pictures.4ever.eu
Photos: pictures.4ever.eu

the State of Affairs of the company can only be described as deplorable: may 22, on account Colt's Manufacturing LLC was 11.1 million dollars, while the company has not paid the additional 10.9 million to holders of its bonds. And the total amount of debts accumulated by the company of $ 250 million.

According to Business Insider, in the implementation of the classical version of the bankruptcy, the company will be sold to creditors, but until the holders of the shares of Colt not in a hurry to get rid of them. The fact is that in 2015-2016 projected sales growth of 24%.

See also: The National Interest chose five of the most lethal samples of small arms in the world
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