#Connecticut

Although we don’t discuss partisan politics here at TFB, the negative climate surrounding the firearms industry in some of the northeast states does have a ripple effect on consumers. For example, the legal challenges facing Remington and other companies have shown that the firearms industry is just no longer welcome in certain parts of the country. So the news of Stag Arms moving from Connecticut to Wyoming shouldn’t be a big surprise to anyone paying attention.

Stag Arms have announced their intention to move their headquarters from New Britain, Connecticut.  Stag Arms’ Facebook announcement of the plan to move, however, didn’t expressly state that they’re leaving their current state. However, according to a Middletown Press article, New Britain’s mayor stated that Stag Arms had been “courted by other states since Connecticut passed stringent gun control laws following the 2012 mass shooting at the Sandy Hook Elementary School.”

SIG Sauer – recent winner of the US Army’s Modular Handgun System competition – is being sued by an officer from the Stamford, Connecticut Police Department Special Response Team over an incident he claims was the result of a defect in their P320 handgun. In the suit, the officer alleges that he dropped the pistol – still in its holster – while he was loading equipment into the back of his vehicle, which caused it to discharge a bullet into his leg. From the Connecticut Law Tribune:

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.

An official announcement from the Connecticut Governor’s office has confirmed that Colt’s Manufacturing Company, the current, official name of the company we all call “Colt”, is purchasing its own headquarters and manufacturing facility in West Hartford Connecticut. Also in the press release from Governor Dannel Malloy was promised retention of Colt’s current 600-employee workforce and the addition of 100 more jobs at the location.

Hartford, Connecticut gunmaker Colt has won confirmation of its Chapter 11 bankruptcy exit plan. The plan, which includes a new lease on the company’s Hartford plant as well as negotiated terms for retiree medical benefits with the United Auto Worker’s union, was approved by all of the company’s stakeholders.  ABLAdvisor reports:

Following right on the heels of Colt Defense narrowly avoiding default on its loans, Colt Defense announced it may miss its May 2015 high yield bond payment. Forbes reports: