Originally Posted by
seb5
So who does make te Expanse and Competition rifles? I've read and seen some of the differences but don't know the answer.
A company called Colt Competition LLC/Bold Ideas Texas, made both. A couple years ago they went bankrupt:
Last year, Colt Competition manufactured and sold some forty thousand AR-15s. When Donald Trump was elected, sales dropped like a stone. The gunmaker has been struggling to sell 500 rifles per month lately. And then Uncle Sam came knocking . . . wondering where it could go to collect some $2 million in back taxes for Colt Competition’s banner year. The answer: nowhere. The same place Colt Competition is today.
Colt Competition — which licensed its name from Colt Manufacturing LLC (which has no financial interest in Colt Competition) — is no more. The Breckenridge, Texas-based rifle maker has ceased production and dismissed over 70 employees.
Although Colt Competition has a substantial inventory of partially completed rifles, no parts supplier will touch them. The guns can’t be completed.
Given the moribund market for modern sporting rifles, the chances that Colt Competition will rise from the ashes are slim to none, and Slim just left town.
Colt Competition traces its roots back to 2009, when tech entrepreneur Charlie Lake purchased Warne Scope Mounts. Mr. Lake bought one of Warne’s parts makers and tasked them with building rifles as Colt Competition.
Mr. Lake sold Warne in 2013 and moved the then-successful Colt Competition factory to Texas — just in time for the first great AR-15 sales crash.
“It took us two-and-a-half years to get ourselves out of the hole,” Colt Competition VP Dave Wilcox told TTAG. “But we never got fully out of debt.”
The 43-year-old Army vet and former Kimber employee predicted Donald Trump’s victory in the last presidential election. But his company wasn’t prepared for an 80 percent drop in sales. The tax bill was the straw that broke the ailing camel’s back.
As we wrote earlier, the AR-15 market is in free-fall, with significantly more supply than demand. “If we’re down, everybody’s down,” Wilcox said. “It’s going to be a tough year.”
Colt Competition sold superb rifles — all guaranteed and shot to sub-MOA standards. The company’s staff were unfailingly polite and professional. The market may not miss the brand, but its satisfied customers will.
https://www.thetruthaboutguns.com/20...ss-first-many/
Annnnd, as I understand it the folks holding the debt from the bankruptcy sued Colt for cutting back on the number of Expanses that Colt had contracted with them to make for Colt:
Colt’s Manufacturing is in hot water: A lawsuit filed in the District Connecticut court by finance company Prestige Capital is targeted at the gunmaker, with the aim of recouping half a million dollars plus legal fees and interest over what the plaintiff claims was a breach of contract during the production of the Expanse Carbine. The suit follows Colt’s scaling back of a contract for the Colt Expanse, a budget priced Colt-branded carbine whose production was farmed out to Bold Ideas, also known as Colt Competition. Colt’s contract with Bold Ideas allowed them to scale back production of the rifles – originally set at 6,000 to be delivered each quarter – but required 60 days’ notice. According to a letter cited in the suit, which was filed at the end of June, Colt scaled back production to 2,400 units per quarter “immediately” in March.
Bold Ideas had sold its assets to Prestige Capital in 2014, in return for an advance. Prestige Capital is seeking to have Colt pay the allegedly missing final payment of $500,000 for the minimum purchase order to Bold Ideas of Expanse carbines, plus interest and legal fees. Bold Ideas/Colt Competition went bankrupt earlier this year. The company originated in Oregon as Chazkat, LLC, and then moved to Texas in 2013.
https://www.thefirearmblog.com/blog/...tion-cutbacks/
Patriotism means to stand by the country. It does not mean to stand by the President... - Theodore Roosevelt, Lincoln and Free Speech, Metropolitan Magazine, Volume 47, Number 6, May 1918.
Every Communist must grasp the truth. Political power grows out of the barrel of a gun. Our principle is that the Party commands the gun, and the gun must never be allowed to command the Party Mao Zedong, 6 November, 1938 - speech to the Communist Patry of China's sixth Central Committee
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