The legendary firearms firm has entered into a partnership with Folds of Honor, and its labor union is asking the state to help the company address those nagging financial challenges. It’s not all good news, though—Walmart has stopped selling ARs, including Colts.
If Colt’s Aug. 13 announcement that is has entered into a partnership with one of the industry’s foremost when it comes to serving military families—the Folds of Honor Foundation—is any indication, the company’s leaders are optimistic about the future. A portion of the proceeds from each sale of its commercial pistols and rifles will now go to the charitable organization. In addition, Colt will soon be offering exclusive Folds & Colt wearables to help raise awareness for Folds of Honor’s shooting event series, Patriot Range Days.
United Auto Workers tried to come to the aid of the company a few weeks before, when it inquired if the state could help Colt address a tough fiscal situation for a fourth time in 25 years. Five hundred of the 610 workers at the company’s Hartford, Conn., plant are members of the labor union.
And finally, Walmart’s decision to end sales of AR-15s—allegedly due to slow sales—could be yet another setback. A search of the retail giant’s website turned up at least one Colt model that was available to the 260 million customers that come through its doors each week. Overall impact depends on volume of sales at the outlet, figures I don’t expect Walmart and Colt to share anytime soon.