Colt Defence, the 179-year-old creator of the legendary "gun that won the West", announced on Monday (Jun 15) that has filed for bankruptcy. Colt, which dates back to 1836, when inventor Samuel Colt revolutionised the firearms world by creating the first revolver.Colt, which makes recreational guns as well as the M4 and M16 military rifles. These trends included a drop in demand for Colt handguns and delays in the timing of US government sales, including foreign military sales through the US government.
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