Colt going bankrupt during a period of massive gun buying, with its signature product, the AR15, the most popular rifle being sold, is like a big name potato chip company in Colorado going broke after pot was legalized.
Colt became a dinosaur. It tried to be politically correct by marketing mostly to government, and became dependent on that one big customer. It's high-paid executives made stupid decisions, and caused the company to fail. So this failure is as it should be. Hopefully the reorganization will leave them with a leadership made up of competent and loyal Americans who will lead it in the right direction.
