WEST HARTFORD, CT–Colt Defense LLC, today announced it has completed its financial restructuring and emerged from its Chapter 11 process. The Company concluded its restructuring after completing all required actions and satisfying all remaining closing conditions to its Amended Joint Plan of Reorganization (the “Plan”), which was confirmed by the United States Bankruptcy Court for the District of Delaware (the “Court”) last December.

Under the Plan, Colt has significantly restructured and reduced its debt, improved its capital structure, and enhanced its liquidity profile. Specifically, the Company has reduced its debt by approximately $200 million, after giving effect to $50 million of new capital raised through the restructuring process.

In addition, the Company has executed a long-term lease for its West Hartford Facility and has entered into a Memorandum of Understanding with the United Auto Workers that reaffirms its strong relationship with the union and its workforce.

“It is with profound appreciation to all of our key stakeholders that we share that we have completed the restructuring process and are emerging from Chapter 11 with a solid capital structure, significantly less debt, and much greater financial flexibility,” said Dennis Veilleux, President and Chief Executive Officer of Colt Defense LLC. Mr. Veilleux added. “Importantly, we were able to restructure our balance sheet while meeting all obligations to our customers, vendors, and suppliers throughout this process. This is a true testament to the hard work and support of our dedicated employees, as well as an affirmation of a shared confidence among our key stakeholders and creditors that Colt is on the right path. We are grateful for their commitment to Colt and we look forward to the future as we build on our heritage as an iconic American brand with renewed vigor and purpose.”