Breaking: Colt Lays Off Custom Shop Employees

   03.03.17

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Our sister site, The Firearm Blog, posted some bad news about Colt. It appears the custom shop division may have been gutted and and the director, Brent Turchi, was let go

Brent posted the following at 1911forum.com:

I am alive and well just no longer with Colt. I will continue to be a member of this forum and interact as I see appropriate. I will also tell the forum when and where I land. I have and will continue to enjoy this forum and its members. All thoughts are appreciated.

Brent

Losing the military contract in 2013 appears to of sent Colt into a downward spiral that they have not yet recovered from.

2013, FN won a $77 million dollar contract to supply the Army with new rifles.

FN’s contract with the Army is $77 million for the first 120,000 rifles, which works out to a bottom line of just under $642 per M4A1. These will be manufactured at FNH USA in South Carolina along side the M16A4s and M249s FNH USA currently produces for the U.S. armed forces.

 

2015, Colt filed for Chapter 11 Bankruptcy protection.

The end we knew would come has finally begun. Colt Defense, LLC is set to file chapter 11 bankruptcy protection tomorrow, according to insider sources, reports marketwatch.com.

2017, Colt let custom shop director Brent Turchi go and other employees are laid off.

Overall, things are not looking good for Colt.

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