The company, the nation's largest handgun maker, has wheeled out a line of police bicycles complete with lights and sirens, The Associated Press reported.

In 1997, Mr. Feldman appeared at the White House to announce a voluntary program by major handgun makers to include trigger locks with new guns.

In March, the nation's largest handgun maker, Smith & Wesson, agreed to the proposed code of conduct.

But Paul Januzzo, general counsel for Glock Inc., one of the largest handgun makers, said it was unlikely that the older, more established, mostly Eastern firearms companies would turn to bankruptcy.

A competing handgun maker and striking employees have separately expressed interest in buying Colt Firearms, which was put on the market last week by Colt Industries.

The group will file suits against handgun makers, importers, and distributors to force gun companies to market their products more carefully.

The company, the world's top handgun maker, gave no reason for his departure.

According to the ATF, Kel-Tec is the third largest handgun maker in the U.S.

To date, only one company, Smith & Wesson, the nation's oldest and largest handgun maker, has accepted the code.

The situation was not always so bleak for Springfield, which once generated a string of successful manufacturers, including Smith & Wesson, the handgun maker, and the Indian Motorcycle Company.