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Colt Files for Chapter 11 Bankruptcy.

The iconic firearms manufacturer filed after a long time under financial stress. Loss of government contracts plus lack of consumer sales added to their woes. Currently a hedge fund runs the company. The details remind me of the Sears saga.

http://www.telegraph.co.uk/finance/newsbysector/industry/defence/11675418/Gun-maker-Colt-fights-for-survival-as-it-files-for-bankruptcy.html

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