Demise of a Connecticut Icon
UConn Today – Gun manufacturer Colt Defense LLC has filed for Chapter 11 bankruptcy, a process that will allow for an accelerated sale of Colt’s business operations in the U.S. and Canada. The Hartford, Conn.-based manufacturer, which created the iconic revolver whose bullets were loaded into a revolving cylinder that became known as “the gun that won the West,” has been a major producer of firearms since the early 1800s. How did Colt get to this point and what does the future hold? UConn Today asked economic historian Fred Carstensen, a professor of finance and economics in the School of Business, and director of the Connecticut Center for Economic Analysis.
