COLT Studios Officially Bankrupt

Prowest Media, COLT's parent company, declared bankruptcy back in June. It looks like the most muscular legs in the world won't keep COLT standing on its own. QueerClick got a hold of the bankruptcy court filing, and yep, they're fucked.

Jim French, founder of COLT Studios, was in court yesterday with Tom Settle and John Rutherford, two producers who bought COLT as representatives for Prowest Media. Rutherford and Settle purchased COLT over a year ago, promising to pay 2.3 million dollars but they've been in default for over a year. This has a lot to do with COLT's declining value—from $3.5 million in 2006 to $1.6 million in 2009.

The real question of course, is how this will affect the rest of the industry. COLT was a heavy hitter when it came to muscle, leather, and generally good porn with high production values. Who will sweep in to fill up the gap they leave in the market? Where will their exclusives like muscle gods Carlo Masi and Jasper Van Dean turn for employment? TitanMen? Raging Stallion Studios? Who will be our go-to website when we feel the need to watch ridiculously buff bodybuilders fuck each other?!?!

· COLT Studios Declares Bankruptcy (queerclick.com)