Colt Defense announced Monday it has voluntarily filed for Chapter 11 bankruptcy protection to "allow for an accelerated sale of Colt's business operations in the U.S. and Canada." In a press release, Colt said its current sponsor, Sciens Capital Management, will act as a "stalking horse bidder" and has proposed buying "substantially all of Colt's assets and assume secured liabilities and all liabilities related to existing agreements with employees, customers, vendors, and trade creditors." "Colt intends for the sale to...
