Colt's Other Comebacks

by
posted on June 16, 2015
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
coltfactory.jpg
It could take as long as 90 days before a court determines whether Sciens Capital Management can purchase Colt, but rather than engage in speculation in the meantime, here’s a short look at some of the company’s historic amazing recoveries.

Comeback 1
Legend has it Samuel Colt was a seaman aboard the Corvo when he came up with the concept for his first gun. In 1836, at the age of 22, he opened a plant in Paterson, N.J., where he produced rifles and handguns until 1842. Unfortunately, sluggish sales shuttered the doors. For the next three years, Colt dabbled in a variety of other enterprises, including waterproof wire for Samuel Morse’s newfangled telegraph. When his guns performed extremely well in the hands of the Texas Rangers and U.S. Dragoons, Captain Samuel H. Walker contacted him about designing a more-powerful handgun. From that collaboration, Colt’s “Walkers” were born, the U.S. Ordnance Department quickly ordered its first 1,000, and he was back in business.

Comeback 2
By 1861, Colt’s growing enterprise employed 1,000 people. Then, in 1862 while Civil War was raging, Samuel Colt died at the age of 47. Women in business were a rarity at the time, but his wife took the helm and, despite the odds, continued the company’s success.

Comeback 3
In 1864 the factory burned to the ground. The company limped along for three years, barely capable of fulfilling government contracts, but methodically rebuilt itself into a profitable venture that thrived through World Wars, Korea and Vietnam.

Comeback 4
In the 1990s, however, Colt’s mainstay 1911 was replaced as the U.S. military’s issue sidearm by the Beretta-made M9. Add a four-year strike by company workers, and the company underwent bankruptcy proceedings in 1992. The firm got firmly back on its financial feet after it secured an order as the U.S. Military’s primary producer of the M4, though—a contract that lasted nearly 15 year.

Comeback 5?
The jury’s still out on this one, but Colt has a history of overcoming hurdles. The complicated situation that led to a voluntary Chapter 11 bankruptcy may have started about the time FN Manufacturing beat Colt in contract bidding for military carbines in 2013.

In the meantime, the company is open for business and fully operational. Sciens Capital Management has made a proposal to purchase Colt, and a press release issued by the legendary firearms company stated, “As part of the Sciens led bid, Colt will be able to reassure its employees and local community of its commitment to continued operations in West Hartford through a long-term extension on the lease for its manufacturing facilities and campus in West Hartford.”

Latest

Taurus Expedition Rifleman Review 1
Taurus Expedition Rifleman Review 1

Rifleman Review: Taurus Expedition

Taurus entered the bolt-action rifle market with its Expedition, a Remington 700-pattern design that's built to be versatile and affordable.

New For 2025: Charter Arms Pathfinder II

Charter Arms updated one of the oldest models in its lineup with the new Pathfinder II, which features a lightweight 7075 aluminum frame, making it more well-balanced and easier to carry.

Review: Kimber 2K11

The 2011-style pistol was designed to address the capacity limitations of the single-stack M1911 platform, and Kimber's approach to the concept is its 2K11, a competition-ready offering with several notable features.

Favorite Firearms: A High-Flying Hi-Standard “A-D”

Manufactured in New Haven, Conn., in late 1940, this Hi-Standard pistol was shipped as a Model “A,” but a heavier Model “D” barrel was installed later to replace the original, light barrel, leading one American Rifleman reader to call it a Model “A-D.”

Ruger Helps Families In Need Through The Kids & Clays Foundation

In the effort to help tens of thousands of critically ill children and their families across the nation through local Ronald McDonald Houses, Ruger is among some of the industry’s foremost Platinum-level sponsors of The Kids & Clays Foundation.

Unlocking The Future: Smith & Wesson's "No Lock" Revolvers

The future is shaping up to be a good one for fans of Smith & Wesson revolvers. The iconic American company had released 14 new models thus far in 2025 at the time this was written mid-year. And, with one exception, they have all shared a common feature—no internal lock.

Interests



Get the best of American Rifleman delivered to your inbox.