West Hartford's Colt Defense files chapter 11 bankruptcy

Connecticut-based Colt Defense has filed for chapter 11 bankruptcy protection. The gun maker says it owes $500 million to 50 creditors and does not have

The gun maker says it owes $500 million

The gun maker says it owes $500 million to 50 creditors and does not have enough assets to pay them all back. (Credit: News 12 )

WEST HARTFORD - Connecticut-based Colt Defense has filed for chapter 11 bankruptcy protection.

The gun maker says it owes $500 million to 50 creditors and does not have enough assets to pay them all back.

The move could allow the company to be sold.

Colt has been in businesses since the mid-1800s.

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