Weapon manufacturer Colt files for bankruptcy protection

[Underway]

IIRC they are Canadian National Bank(which used to include the mint), Colt Canada, Canada Post, and I think Petro Canada but am not sure about that one since it's no longer crown.  Finance, energy, security, communications.  Things have changed over the years but there are specific industries in Canada that if they were to die would have significantly negative impacts on the country.  Colt Canada the supplier of all CAF and RCMP small arms is one of them.  As such they have very special relationships with the government and are considered protected...  It's in policy somewhere but my google fun is weak today.

 

[Retired AF Guy]

There are very few jobs at stake. According to its Industry Canada profile, Colt Canada only has 100
employees. In contrast, the General Dynamics ammo factory outside Montreal has over a thousand
employees. Colt Canada isn't Ford or GM. It's not really about jobs.

My understanding from various media sources is that the bankruptcy proceedings in the U.S. has no
impact on Colt Canada because its independent from the mother corp. in the U.S..