"Colt is an iconic business and we're sort of intensely interested in helping a business like that," Drew Ryce, attorney for the Morongo Band of Mission Indians, told Reuters on Tuesday. "Colt is the Gun that Won the West. We are the West."
The firearms manufacturer filed for bankruptcy on June 14 and is considering putting itself up for sale.
Ryce said the Banning, California-based tribe was looking to diversify its economy and an East Coast manufacturer would balance the tribe's focus on retail, gambling and hospitality in Southern California.
A Colt spokesman declined to comment.